Catheter Precision, Inc. (VTAK) announced it has secured up to $88 million in new institutional financing, a move aimed at accelerating growth, simplifying its balance sheet, and expanding both its aviation and medical device operations.
The company highlighted its newly acquired aviation subsidiary, Flyte, Inc., which will use the capital to expand its fleet, acquire additional aircraft, and enter new regional markets. Flyte operates certified aircraft and enter new regional markets. Flyte operates certified aircraft through FAA-approved carrier Ponderosa Air, offering point-to-point travel between major metropolitan areas and underserved secondary markets.
Alongside aviation, Catheter Precision reaffirmed its commitment to its cardiac arrhythmia medical device business, noting that the financing provides resources to strengthen both divisions.
CEO Mark Sellouk described the transaction as "transformational," positioning Flyte to scale nationally while supporting the company's healthcare innovation.
The company effected a 1-for-19 reverse stock split on August 15, 2025. VATK closed Tuesday's trading session at $1.72, up 25.55%. In the pre-market trading the stock is trading at $1.53, down 14.04%.
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