Strata Critical Medical (SRTA), formerly known as Blade Air Mobility (BLDE), announced the closing of the previously announced divestiture of the Company’s Passenger business to Joby Aviation (JOBY). Joby has elected to pay the up-front consideration in stock. The Company may receive up to an additional $35M in consideration based on maintaining certain employee retention and financial performance targets during the 18 and 12 months, respectively, following today’s closing, as well as the release of up to $10M in indemnity holdbacks, payable in cash or stock at Joby’s election. The Company’s re-branding to Strata Critical Medical is now complete and Strata will begin trading under the ticker symbol SRTA today.
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