Volato Group Inc. (NYSE American: SOAR) announced a definitive agreement for a $2.2 million strategic investment led by Catheter Precision Inc. (NYSE American: VTAK) and other institutional investors.

The investment in restricted common stock aims to strengthen Volato's balance sheet as the company evaluates potential acquisitions and mergers in AI infrastructure, AI software, data infrastructure, compute, power generation and related sectors. The investment requires customary closing conditions, including authorization of a supplemental listing application with the NYSE American stock exchange.

The funding follows the termination of Volato's previously announced transaction with M2i Global. The company stated the termination does not affect its ability to pursue milestones under its NYSE American compliance plan.

Volato has received two unsolicited non-binding letters of intent for potential AI ecosystem transactions, including opportunities involving AI data center infrastructure and power generation assets supporting AI workloads. No definitive agreements have been executed and completion of either opportunity remains uncertain.

"The termination of the M2i transaction gives us the opportunity to refocus on a market opportunity we believe is more closely aligned with Volato's technology assets, public-company platform, and long-term shareholder value," said Matt Liotta, Chief Executive Officer.

Volato currently owns Parslee, an AI software platform focused on document intelligence technology. The company is also developing Volato AI, which combines Parslee's technology with Volato's aviation experience to create specialized AI agents and software for the aviation industry.

David Jenkins, CEO of Catheter Precision, said his company is "excited to support Volato as its now largest shareholder as it executes on its AI strategy."

Additional transaction details will be provided in the company's Current Report on Form 8-K.