Catheter Precision to Rename Itself Flyte Aviation, Switch Ticker to VJET and Effect 1-for-10 Reverse Split on October 5
Why It MattersThe rebrand shows a small-cap company repositioning itself as a pure private-aviation operator, with the reverse split suggesting that listed light-jet charter platforms must also manage share structure on a public exchange.
What happened
Catheter Precision, Inc. (NYSE American: VTAK) announced on October 2, 2026 that its Board of Directors approved changing the company's name to Flyte Aviation, Inc. and its ticker symbol to "VJET." Shares will begin trading under the new name and ticker, on a split-adjusted basis, at the market open on Monday, October 5, 2026.
The name change comes with a one-for-ten reverse stock split, which stockholders approved at a Special Meeting of Stockholders on April 15, 2026. Every ten shares of common stock will be combined into one share, reducing the outstanding shares from approximately 21.0 million to approximately 2.1 million. Par value and authorized shares do not change. Proportionate adjustments will be made to outstanding options, warrants and convertible preferred stock, and the new CUSIP number after the split will be 74933X 807. The common stock remains listed on the NYSE American.
Stockholders need take no action. Shares held in physical certificate form, in book-entry form at the transfer agent, or through a broker-dealer will be adjusted automatically by the company's exchange agent at no cost. No fractional shares will be issued; holders who would otherwise receive a fraction will receive their pro rata share of the net proceeds from the exchange agent's aggregation and sale of such fractional shares. The split will not alter any stockholder's percentage ownership, except for the treatment of fractional shares.
The company says the new name reflects its growth trajectory as a leading private, regional jet aviation business. Through its wholly owned subsidiary Fly Flyte, Inc., it describes itself as a technology-enabled private aviation company operating a growing fleet of Cirrus Vision Jets across the US and select international markets. It offers a direct-to-consumer booking platform, standardized pricing on select routes and strategic partnerships, and operates through its FAA-certified Part 135 subsidiary Ponderosa Air, LLC. The company is based in Fort Mill, South Carolina.
Industry impact & what to watch
Renaming a listed company around a single-type light-jet fleet, and attaching a ticker built for private aviation, is a signal about positioning more than operations: the business wants to be read by investors as an aviation operator first. In the light-jet charter segment, the economics depend on utilization of a small, uniform fleet and on a booking channel that fills seats directly, which is the model the company describes with Cirrus Vision Jets and a direct-to-consumer platform.
The reverse split is a separate, financial step. Cutting shares from roughly 21.0 million to 2.1 million raises the per-share price without changing anyone's percentage ownership, and companies on small-cap exchanges commonly take that step to keep a listing in good standing. Listed operators in this segment therefore face capital-markets housekeeping alongside the usual questions of fleet growth and route economics.
The first concrete checkpoint is trading on October 5, when the VJET ticker and split-adjusted share count take effect. After that, the measure of whether the rebrand reflects real scale will be disclosed fleet size, flight activity and results from Fly Flyte and Ponderosa Air.
