08:05 AM EDT, 08/04/2025 (MT Newswires) -- Blade Air Mobility ( BLDE ) said Monday it has agreed to sell its passenger division to Joby Aviation ( JOBY ) for up to $125 million.

The deal includes Blade's US and Europe passenger operations, lounges and terminals, as well as the Blade brand.

Following the closing of the transaction, Blade's medical division will remain public and rebrand as Strata Critical Medical, while the passenger division will operate as a standalone entity within Joby Aviation ( JOBY ).

As part of the deal, Strata said it will gain access to Joby's electric vertical takeoff and landing aircraft and the company will focus entirely on medical services and organ transport through its Trinity Medical Solutions subsidiary.

The deal consideration may be paid in cash or Joby stock and includes up to $35 million in performance-based earnouts.

The transaction is expected to close in the coming weeks and a new ticker for Strata will be announced at a later date.

Shares of Blade were more than 29% higher, while Joby Aviation ( JOBY ) shares were 6% higher in recent Monday premarket activity.

Price: 4.88, Change: +1.10, Percent Change: +29.10