CRTD (Creatd Inc.) Sells Remaining 80% of Fly Flyte to NYSE-Listed VTAK (Catheter Precision Inc.), Securing Significant Cash and Equity Position

Core Insights - Creatd, Inc. has sold its remaining 80% equity stake in Fly Flyte, Inc. to Catheter Precision, Inc. for approximately $6 million in cash and nearly $6 million in Convertible Preferred Stock, significantly strengthening its balance sheet [1][2][5] Group 1: Transaction Details - The sale aligns with Creatd's strategy of developing turnkey operating solutions for businesses preparing for public market listings while retaining a minority interest [2] - The transaction positions Creatd as a significant shareholder in VTAK, enhancing its portfolio of public and private positions across various industries [3] - Creatd's acquisition of Flyte was completed approximately one year ago, with a disciplined turnaround strategy focused on operational optimization and revenue growth [4] Group 2: Future Plans and Strategy - Creatd plans to pursue its own national exchange listing strategy this year without relying on traditional financing structures [6] - The recent asset sale provides the necessary capital to complete the next phase of its growth strategy, which includes acquisition and incubation strategies for exchange-listed entities [6] - The company aims to address the structural gap in the middle market, helping public companies stabilize and scale to reach national exchange listings [7] Group 3: Company Overview - Creatd, Inc. focuses on acquiring and growing technology-driven companies in sectors such as aviation, media, and advisory services [8] - Flyte operates a fleet of Cirrus Vision Jets, providing a faster and more efficient alternative to traditional private charter services [9] - Flyte is building a disciplined, asset-backed aviation infrastructure designed to serve underserved regional markets [10]