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Flyte Aviation Signs LOI to Sell Catheter Precision Assets

Flyte Aviation announced that it has executed a non-binding Letter of Intent to sell its legacy subsidiary Catheter Precision's VIVO, LockeT and associated life sciences assets. The parties to the LOI target closing by year-end 2026. The LOI contemplates cash consideration payable at closing, subject to customary adjustments, escrow and indemnification provisions. The LOI also contemplates potential contingent consideration payable to the Company if specified future monetization events or value thresholds are achieved within six years following closing. There can be no assurance that any contingent consideration will be earned or paid. The proposed sale is expected to significantly reduce Flyte Aviation's operating expenses, strengthen its balance sheet, and fund its various growth and expansion initiatives.

Flyte Aviation Subsidiary Releases LockeT Device Clinical Study

Flyte Aviation's wholly owned subsidiary Catheter Precision announced the first published comparative study evaluating its LockeT suture retention device against a traditional internal vascular closure device, or VCD, following large bore venous access. The 172-patient peer-reviewed study was published in The Journal of Interventional Cardiology. The clinical data demonstrated the superior safety and efficacy of the LockeT device compared to Perclose, an internal VCD manufactured and sold by Abbott (ABT). Key findings from the study include: fewer complications: LockeT reduced cumulative access-site complications to just 1.2% vs. 9.3% with Perclose; zero device failures: the LockeT device achieved a 0.0% failure rate, outperforming the VCD's 4.7% failure rate; equivalent efficiency: both methods delivered similar results for time to hemostasis and rates of same-day patient discharge.

Flyte Aviation Partners with Philadelphia 76ers for Multi-Year Deal

Flyte Aviation announced a multi-year partnership with the Philadelphia 76ers, in which Flyte is named the official private aviation partner of the Philadelphia 76ers. Flyte and the 76ers expect to collaborate across digital media, social media, premium hospitality, fan engagement, corporate partnerships, and high value private aviation experiences. Flyte will have opportunities to introduce its platform directly to 76ers fans, season-ticket members, premium customers, and corporate partners while developing exclusive promotions and packaged experiences throughout the partnership. Flyte and the 76ers also plan to explore creative in-arena activations, including a "Halftime Flyte Challenge," giving selected fans the opportunity to win a private Flyte flight by making a half-court shot.