09:09 AM EDT, 08/29/2025 (MT Newswires) -- Joby Aviation ( JOBY ) completed its acquisition of Blade Air Mobility's ( BLDE ) passenger division, the companies said in separate statements Friday.

Joby said it will continue Blade's passenger operations as a subsidiary led by its founder and Chief Executive Rob Wiesenthal.

Blade said Joby chose to pay the upfront consideration is stock, adding that it may receive additional consideration of $35 million based on maintaining certain employee retention and financial performance targets over 18 and 12 months respectively, and the release of indemnity holdbacks of up to $10 million payable in cash or stock at Joby's election.

Blade also said it is now known as Strata Critical Medical and will start trading under the ticker symbol SRTA later in the day.