Flyte, the regional air mobility subsidiary of Catheter Precision Inc. (NYSE: VTAK), announced it has made a strategic investment in Volato Group Inc. (NYSE: SOAR). The transaction involves VTAK acquiring approximately 2.9 million shares of SOAR, representing about 7.5% of the company's outstanding common stock.

The investment aims to provide a foundation for potential future collaboration to improve access, efficiency, and innovation across private aviation, according to the company's statement.

"This strategic investment represents an exciting opportunity for both organizations," said David Jenkins, Chief Executive Officer of Catheter Precision. "We believe this clearly aligns our interests, strengthens our position within the private aviation ecosystem, and creates opportunities to generate long-term shareholder value for both companies."

Matt Liotta, Chief Executive Officer of Volato Group, stated that the investment "provides additional capital to support our strategic initiatives while introducing a highly aligned strategic shareholder."

The transaction supports Flyte's strategy to expand its aviation ecosystem and pursue strategic industry partnerships. Flyte operates through its wholly owned subsidiary, Ponderosa Air LLC, an FAA-certified Part 135 air carrier with a fleet of Cirrus Vision Jets focused on short-haul markets.

Volato Group is described as a technology company that builds scalable software and data solutions for business decisions. The company operates the Parslee Document Intelligence platform and is expanding into the critical minerals sector through a pending acquisition of M2i Global.

Additional details regarding the transaction will be provided in Catheter Precision's Current Report on Form 8-K, according to the company statement.