Flyte Aviation signs letter of intent to sell cardiology assets
VJET•Flyte Aviation signed a non-binding letter of intent to sell Catheter Precision's VIVO, LockeT and related life sciences assets, with closing targeted by year-end 2026. Cash would be payable at completion, with additional contingent payments tied to specified events or value thresholds within six years.
1. Proposed asset sale
Flyte Aviation signed a non-binding letter of intent to sell Catheter Precision's VIVO, LockeT and associated life sciences assets. The company is targeting closing by year-end 2026, with cash consideration payable at completion and contingent payments tied to specified monetization events or value thresholds within six years of closing.
2. Use of proceeds
Flyte Aviation said the sale would complete its transition to a technology-enabled private aviation business while significantly reducing operating expenses. Proceeds would strengthen its balance sheet and support fleet expansion, growth initiatives and improved aircraft utilization.
