Blade sells passenger division to Joby for up to $125M; to rebrand as Strata

Strata Critical Medical, Inc.

Up to $125M consideration (cash or Joby stock): $90M at close plus up to $35M earnout tied to performance and retention.
Blade's medical division remains public and rebrands as Strata, focusing on contractual medical logistics and organ transport.
CEO Rob Wiesenthal joins Joby as CEO of Blade unit, becomes Chairman of Strata; co-CEOs Tomkiel and Heyburn lead Strata.
Transaction expected to be Adjusted EBITDA and FCF neutral; $7M in annual corporate cost efficiencies identified.
Expected close in coming weeks; Blade's Passenger business includes US/Europe operations and the Blade brand.

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