On August 4, Blade and Joby Aviation Inc. (NYSE: JOBY) announced the sale of Blade’s passenger mobility business to Joby for up to $125 million. That sent BLDE stock soaring 30%. Blade will become a pure-play medical logistics company and change its name to Strata Critical Medical.

Joby Aviation (NYSE:JOBY) confirmed on Monday that it has entered into a definitive agreement with Blade Air Mobility (NASDAQ:BLDE) to purchase the company's urban air mobility passenger business. Blade's medical division was not included in the transaction and will remain a separate public company.

Joby Aviation Inc. said it plans to buy the helicopter rideshare business of Blade Air Mobility Inc. for as much as $125 million in stock or cash as the electric aviation firm seeks to expand its battery-powered air taxis into a ready-made market for its aircraft.