India, Aug. 29 -- Strata Critical Medical (BLDE), formerly Blade Air Mobility, has sold its Passenger division to Joby Aviation.
The initial payment will be made in Joby stock, with up to $35 million in additional payments contingent on employee retention and financial milestones within 18 and 12 months of closing.
A further $10 million may be released from indemnity holdbacks, payable in cash or stock. Strata begins trading under the ticker symbol SRTA today.
The company is pivoting fully to its core business of medical air transportation, specializing in the delivery of human organs for transplant and related logistics services. Operating in the Northeast U.S., Southern Europe, and Western Canada, its Medical segment now drives the maj...