Lindblad Expeditions Holdings, Inc. Announces Pricing of Tender Offer for any and all of the 6.750% Senior Secured Notes due 2027 issued by Lindblad Expeditions, LLC
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 19 2025
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Source: PRnewswire
Tender Offer Announcement: Lindblad Expeditions Holdings, Inc. announced a cash Tender Offer to purchase all outstanding 6.750% Senior Secured Notes due 2027 through its subsidiary, Lindblad Expeditions, LLC.
Total Consideration Details: The Total Consideration for the Notes includes an early tender payment of $30.00 per $1,000 principal amount for validly tendered Notes before the Early Tender Deadline of August 18, 2025.
Expiration Date for Tendering: Holders can continue to tender their Notes until September 3, 2025, after which they will only receive the Tender Offer Consideration of $979.98 per $1,000 principal amount without the early payment.
No Recommendations Provided: Lindblad and associated parties are not making any recommendations regarding whether holders should tender their Notes, emphasizing that holders must make their own decisions based on the terms outlined in the Offer to Purchase and Consent Solicitation Statement.
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Analyst Views on LIND
Wall Street analysts forecast LIND stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for LIND is 19.00 USD with a low forecast of 18.00 USD and a high forecast of 20.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
3 Analyst Rating
3 Buy
0 Hold
0 Sell
Strong Buy
Current: 16.240
Low
18.00
Averages
19.00
High
20.00
Current: 16.240
Low
18.00
Averages
19.00
High
20.00
About LIND
Lindblad Expeditions Holdings, Inc. is an experiential travel operator offering immersive, ship- and land-based journeys on all seven continents through its six pioneering brands. The Company operates in two segments: Lindblad and Land Experiences. Lindblad provides ship-based expeditions and Land Experiences provides active, land-based trips, tours, treks and safari adventures. In collaboration with National Geographic, Lindblad Expeditions operates and sells the National Geographic-Lindblad Expeditions co-brand, offering ship-based voyages. The Company offers wildlife, cultural, and adventure-focused experiences through its land-based brands, which include Natural Habitat Adventures, Off the Beaten Path, DuVine Cycling + Adventure Co., Classic Journeys, and Wineland-Thomson Adventures, in addition to its expedition cruises. Together, these brands connect travelers with some of the planet’s natural and cultural landscapes, fostering a deep appreciation for the world.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Lindblad Expeditions Converts 62,000 Preferred Shares into 9 Million Common Shares
- Mandatory Conversion: Lindblad Expeditions has exercised its right to convert 62,000 shares of its 6.0% Series A convertible preferred stock into approximately 9 million common shares, effective February 3, marking a significant shift in the company's capital structure.
- Trigger Conditions Met: The conversion right was triggered on January 16 after the common shares traded above $14.25 for 20 out of 30 consecutive trading days, indicating strong stock performance and investor confidence.
- Change in Common Shares: Following the conversion, Lindblad expects to have about 64.4 million common shares outstanding with no preferred stock remaining, which will simplify the capital structure and enhance liquidity.
- Positive Market Reaction: Following the announcement of the conversion, Lindblad's stock price rose 0.55% in pre-market trading to $16.14, reflecting investor optimism regarding the company's future prospects.
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Lindblad Expeditions Executes Mandatory Conversion of Preferred Stock, Issuing 9 Million Common Shares
- Mandatory Conversion Announcement: Lindblad Expeditions announced on January 16, 2026, the mandatory conversion of its 6.0% preferred stock, converting 62,000 shares into approximately 9 million common shares, which simplifies its capital structure and enhances financial flexibility.
- Stock Price Trigger: The conversion was triggered by the company's common stock price exceeding $14.25 for at least 20 out of 30 trading days, indicating strong market performance and investor confidence in the company's stock.
- Equity Structure Change: Following the conversion, Lindblad will have approximately 64.4 million shares of common stock outstanding, eliminating preferred shares, which is expected to boost investor confidence and optimize capital allocation.
- Support for Long-term Strategy: The CFO stated that this conversion provides greater flexibility in capital allocation to support the company's long-term growth strategy, further solidifying its leadership position in the global expedition travel market.
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