Creatd Inc. has completed the sale of its remaining 80% equity stake in subsidiary Fly Flyte Inc. to Catheter Precision Inc., a company listed on the NYSE American exchange under the ticker VTAK. The transaction provides Creatd with approximately $6 million in cash and nearly $6 million in Convertible Preferred Stock of VTAK, significantly strengthening the company's balance sheet according to the announcement.
The sale aligns with Creatd's stated strategy of developing turnkey operating solutions that prepare businesses for public market listings while maintaining minority interests. This transaction specifically positions Creatd as a significant shareholder in VTAK, adding NYSE-listed equity to Creatd's growing portfolio of public and private positions across diversified industries. The company utilizes technology and AI-first operational infrastructure to help businesses overcome structural hurdles and mature into institutionally viable enterprises.
Creatd acquired Flyte approximately one year ago after initiating due diligence in the fourth quarter of 2024. The company implemented a disciplined turnaround strategy focused on operational optimization, technology integration, and targeted revenue growth, while positioning Flyte for acquisition by a nationally-listed platform. The initial acquisition utilized a combination of financing and OTC Pink Sheet common stock, whereas the exit consideration consists of cash and preferred equity in a New York Stock Exchange-listed company.
"Creatd will continue to pursue its own national exchange listing strategy this year," said Jeremy Frommer, Chairman and CEO of Creatd Inc. "The plan is to do so without relying on the traditional financing structures that often accompany those transactions. Typically those structures consume companies that have not first generated their own balance sheet value." Frommer noted that the company's recent reverse split, completed without accompanying financing, was an important step toward meeting national exchange listing requirements, and that this asset sale provides the capital needed to complete the next phase.
Frommer explained that Creatd creates balance sheet value through acquisition and incubation strategies for exchange-listed entities, where operating businesses can develop and position themselves for long-term success. "Creatd represents one of the few turnaround-focused publicly traded platforms in the small-cap and micro-cap M&A space. We intend to institutionalize this model as we expand and broaden our company's platform," he continued. The company sees significant opportunity to address structural gaps created by the contraction of the middle market over the past two decades, building a platform that helps companies stabilize, scale, and ultimately reach national exchange listings while creating lasting value.
Creatd and VTAK will continue to collaborate through their strategic relationship, including ongoing efforts in aviation and eVTOL logistics platform development. Flyte operates as a technology-enabled regional air mobility company with a growing fleet of Cirrus Vision Jets, providing high-frequency, short-haul services as an alternative to traditional private charter. Flight operations are conducted through Flyte's related entity, Ponderosa Air LLC, an FAA-certified Part 135 air carrier. For more information about Flyte, visit https://www.flyte.travel. The latest news and updates relating to Creatd are available in the company's newsroom at https://tinyurl.com/crtdnewsroom.
