Blade Air Mobility announces an agreement to sell Blade’s passenger division to Joby Aviation, Inc. (JOBY) for up to $125 mln (3.78)
- Blade Passenger division to be sold to Joby Aviation for up to $125 mln.
- Blade's Medical division will remain public and rebrand as Strata post-close, focusing entirely on its rapidly growing contractual medical services and logistics business.
- Long-term partnership between Joby and Strata will provide future access to Joby eVTOLs for medical flights.
- Divestiture is expected to be Adjusted EBITDA and Free Cash Flow neutral.