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Strata Critical Medical, Inc. Chief Accounting Officer Amir Cohen reported routine share dispositions related to tax withholding on vested restricted stock units. On September 4, 2025 and September 10, 2025, the issuer withheld a total of 9,190 shares of Class A common stock to satisfy tax obligations. After these withholdings, Cohen directly owns 94,570 shares. This amended filing corrects an earlier Form 4 that had overstated his direct beneficial ownership by 5,483 shares due to an omitted tax-withholding entry.
Wunsch Scott M reported acquisition or exercise transactions in this Form 4 filing.
Strata Critical Medical, Inc. CEO Scott M. Wunsch received an equity award of 18,067 restricted stock units tied to the company’s Class A common stock. The RSUs were granted at no cash cost to him as part of his quarterly commission program.
All 18,067 RSUs vest on June 8, 2026, provided he continues serving the company, and will be settled in shares upon vesting. After this grant, he holds 587,874 shares directly and 382,987 shares indirectly through a limited liability company of which he is the sole member.
Strata Critical Medical, Inc., formerly Blade Air Mobility, describes its transformation into a focused provider of time‑critical logistics and clinical services for the U.S. transplant and broader healthcare markets. The company now operates two segments, Logistics and Clinical, offering air and ground organ transport, organ placement, surgical recovery, perfusion, preservation and cardiac care services under the Trinity and Keystone brands.
Strata highlights an asset‑light aviation model supplemented by a limited owned aircraft fleet, extensive use of third‑party operators, and proprietary technology to coordinate complex transplant workflows. In 2025 it divested its legacy Passenger business and acquired Keystone Perfusion Services, concentrating on Medical Customers such as transplant centers, hospitals and Organ Procurement Organizations.
The filing emphasizes numerous risks, including continued net losses, integration and divestiture execution, dependence on donor organ availability and reimbursement, operational and aviation safety hazards, climate and geopolitical disruptions, regulatory and privacy obligations, credit‑facility covenants, competition from integrated and device‑based rivals, and the need to recruit and retain specialized clinical, logistics and management talent.
Strata Critical Medical reported very strong growth for Q4 2025, with revenue rising 83.5% year over year to $66.8 million. Logistics revenue, which reflects organic growth, increased 35.3% to $49.2 million, while new Clinical operations contributed $17.6 million following the Keystone acquisition.
Gross profit nearly doubled to $14.4 million and gross margin improved to 21.6%. The net loss from continuing operations narrowed to $5.4 million, but the company remained unprofitable on a GAAP basis. Non-GAAP Adjusted EBITDA jumped to $7.0 million from $1.1 million.
For full year 2025, revenue reached $197.1 million and Adjusted EBITDA was $14.1 million, both above the high end of guidance. Strata raised its 2026 outlook to revenue of $260–275 million and Adjusted EBITDA of $29–33 million, and now expects free cash flow before aircraft and engine acquisitions of $15–22 million.
Cohen Amir reported acquisition or exercise transactions in this Form 4 filing.
Strata Critical Medical, Inc. Chief Accounting Officer Amir Cohen received an equity award in the form of 64,191 Restricted Stock Units (RSUs) of Class A common stock, reported at a price of $0.00 per share. After this grant, his directly held stake increased to 181,817 shares.
The RSUs will be settled in common shares as they vest. According to the vesting schedule, 6.25% of the RSUs (rounded down to the nearest whole number) will vest every three months after March 8, 2026, with any remaining unvested RSUs vesting on March 8, 2030, as long as he continues serving the company.
Strata Critical Medical, Inc. entered into a new secured, asset-based revolving credit facility of up to $30.0 million with JPMorgan Chase Bank, N.A. and other lenders. The agreement allows the facility to be increased by up to an additional $20.0 million, providing extra borrowing capacity if conditions are met.
The ABL facility matures on January 30, 2029 and will bear interest, at Trinity Air Medical’s election, at an adjusted Term SOFR-based fixed rate plus a 2.00% margin or a one‑month Term SOFR floating rate plus a 2.00% margin. A 0.25% annual commitment fee applies to unused amounts.
The loans are guaranteed by Strata Critical Medical and its subsidiary Strata Critical, Inc. and are secured by first‑priority liens on substantially all personal property of the loan parties. The agreement contains customary covenants and events of default, including a springing minimum fixed charge coverage ratio of 1.05 to 1.00 when availability falls below specified thresholds. Proceeds are intended for working capital and general organizational purposes.
BlackRock, Inc. has reported a passive ownership stake in Strata Critical Medical Inc. Class A stock. BlackRock beneficially owns 4,384,945 shares, representing 5.1% of the outstanding Class A shares. It has sole power to vote 4,316,388 shares and sole power to dispose of 4,384,945 shares, with no shared voting or dispositive power. The filing states that the securities are held in the ordinary course of business and are not held for the purpose of changing or influencing control of the company.