Flyte Aviation signs LOI to sell cardiology assets

Flyte Aviation (NYSE American: VJET), formerly Catheter Precision, signed a non-binding letter of intent to sell its legacy VIVO, LockeT and associated life sciences assets to an unnamed buyer. The deal calls for cash at closing plus potential contingent consideration over six years. The parties are targeting a close by year-end 2026.

Why it matters: The sale would complete Flyte's shift to a pure-play private aviation company.