FORT MILL, S.C., March 11, 2026 (GLOBE NEWSWIRE) -- Catheter Precision, Inc. (NYSE American: VTAK) today announced transformational balance sheet improvements through new institutional capital commitments supporting the Company's next phase of growth.
Fully Funded Growth Strategy
Fly Flyte, Inc. ("Flyte"), a newly acquired subsidiary of VTAK, is now positioned to execute its expansion strategy with a fully funded growth plan supported by its parent company, Catheter Precision.
VTAK has recently completed multiple strategic financings designed to support the Company's transformation and the expansion of the Flyte aviation platform. The financing also provides capital to fund the Company's medical device operations.
"With a fully funded growth strategy and access to significant institutional capital, we believe Flyte is uniquely positioned to expand fleet operations, enter new markets, and scale nationally," said Marc Sellouk, Founder and CEO of Flyte. "Demand for premium regional mobility continues to accelerate, and our platform is built to meet that demand today."
Capital to Accelerate Platform Expansion
The Company's recent capital initiatives are expected to support the continued expansion of the Flyte platform and the Company's broader operational transformation.
Capital intended to support:
- Fleet expansion and aircraft acquisitions
- Market expansion across additional regional corridors
- Scaling Flyte's aviation platform infrastructure
- Balance sheet simplification
- Reduction of legacy liabilities
Management believes these initiatives position the Company as a more streamlined public company with significant exposure to the rapidly expanding regional aviation market.
Building a Scalable National Aviation Platform
Flyte was founded to address the growing demand for time-efficient regional air mobility, offering premium point-to-point travel between major metropolitan regions and underserved secondary markets.
The platform integrates:
- Certified aircraft and active flight operations
- Established route infrastructure across key regional markets
- A scalable fleet expansion strategy
- Technology-enabled logistics and scheduling
Following the recent completion of the acquisition, Catheter Precision owns 100% of Flyte, creating a unified aviation business positioned for national expansion.
Management believes the platform's operational foundation allows for rapid fleet growth and expansion into additional high-demand regional markets.
Flyte operates a growing fleet of certified aircraft serving high-demand travel corridors and is designed to scale rapidly as travelers increasingly seek faster alternatives to congested commercial airports and inefficient ground transportation routes.
Management believes the acquisition of Flyte, combined with recently secured institutional capital, provides the foundation for a focused, high-growth aviation strategy while also enabling the Company to simplify its balance sheet and streamline legacy operations.
"This transaction represents a transformational step for the Company," Sellouk added. "By combining a fully operational aviation platform with newly secured growth capital, we are positioned to scale rapidly and execute our vision of building a national regional air mobility network."
Regional Air Mobility Market Opportunity
Demand for premium regional air travel continues to increase as travelers prioritize time efficiency and direct point-to-point routes.
The regional air mobility sector is widely viewed as a major growth opportunity within the broader aviation industry, driven by evolving travel patterns and increasing demand for faster regional transportation options.
With certified aircraft, active flight operations, and scalable infrastructure, Flyte provides exposure to this emerging sector through a platform that is already operating today.
Management believes this strategy positions Catheter Precision at the intersection of private aviation, regional air mobility, and next-generation transportation infrastructure.
Additional Information
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities. Please refer to the Company's Current Report on Form 8-K filed March 9, 2026, for additional details regarding the transaction, which is subject to customary closing conditions, including shareholder approval with respect to certain elements of the transaction.
About Flyte
Flyte is a technology-enabled Regional Air Mobility Company operating a growing fleet of Cirrus Vision Jets. Focused on high frequency, short haul markets, Flyte provides a faster, safer, and more efficient alternative to traditional private charter travel.
Flight operations are conducted through Flyte's wholly owned subsidiary, Ponderosa Air, LLC, an FAA certified Part 135 air carrier. With certified aircraft, active revenue generating operations, and scalable fleet expansion underway, Flyte is building disciplined, asset backed aviation infrastructure designed to serve underserved regional markets.
For more information, visit www.flyte.travel
About Catheter Precision
Catheter Precision is an innovative U.S.-based medical device company developing advanced solutions to improve the treatment of cardiac arrhythmias. The company focuses on bringing new technologies to market through collaboration with physicians and continuous product innovation.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements preceded by, followed by or that otherwise include the words "believe," "anticipate," "estimate," "expect," "focus," "intend," "plan," "potential," "project," "prospects," "outlook," and similar words or expressions, or future or conditional verbs, such as "will," "should," "lends," "would," "may," and "could," are generally forward-looking in nature and not historical facts, including, without limitation, our belief Flyte is uniquely positioned to expand fleet operations, enter new markets, and scale nationally, our belief our capital initiatives position the Company as a more streamlined public company with significant exposure to the rapidly expanding regional aviation market, the belief that FLYTE's platform operational foundation allows for rapid fleet growth and expansion into additional high-demand regional markets and our belief the acquisition of Flyte, combined with recently secured institutional capital, provides the foundation for a focused, high-growth aviation strategy while also enabling the Company to simplify its balance sheet and streamline legacy operations. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the Company's actual results, performance, or achievements to be materially different from any anticipated results, performance, or achievements for many reasons. Unless otherwise required by law, the Company disclaims any intention to, and undertakes no obligation to, revise any forward-looking statements, whether because of new information, a future event, or otherwise and such statements are made only as of the date hereof. For additional risks and uncertainties that could impact the Company's forward-looking statements, please see the Company's Form 10-K and Form 10-Q's, including but not limited to the discussion under "Risk Factors" therein, which the Company has filed with the SEC and which may be viewed at www.sec.gov
CONTACTS:
Investor Relations
973-691-2000
IR@catheterprecision.com
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