Lindblad Expeditions Simplifies Capital Structure with Conversion of Preferred Stock to Common Stock

Lindblad Expeditions Simplifies Capital Structure with Mandatory Conversion of Preferred Stock

Lindblad Expeditions Holdings, Inc. announces a strategic move to enhance its financial stability by exercising its Mandatory Conversion right on its 6.0% Series A Convertible Preferred Stock. The decision, effective February 3, 2026, follows a significant rise in the company's common stock price, which has surpassed $14.25 for 20 out of 30 consecutive trading days. This conversion will result in the transformation of 62,000 shares of Preferred Stock into approximately 9.0 million shares of common stock. Consequently, Lindblad anticipates having around 64.4 million shares of common stock outstanding, with no Preferred Stock remaining in its capital structure.

The conversion is a pivotal moment for Lindblad Expeditions, as it not only simplifies the company's balance sheet but also enhances its ability to allocate capital strategically. CFO Rick Goldberg expresses confidence that this decision positions Lindblad for greater flexibility in funding future initiatives aligned with its long-term business strategies. As a leader in global expedition cruises and adventure travel, Lindblad’s focus on optimizing its financial framework is crucial for sustaining its operational growth and expanding its unique travel offerings.

In addition to addressing its capital structure, Lindblad Expeditions continues to reinforce its reputation for immersive travel experiences across all seven continents. The company operates in collaboration with National Geographic, providing ship-based voyages that blend exploration with educational components. Lindblad’s diverse portfolio, which includes acclaimed brands such as Natural Habitat Adventures and DuVine Cycling + Adventure Co., showcases its commitment to responsible exploration and the appreciation of diverse landscapes and cultures around the globe.

Overall, the Mandatory Conversion decision marks a significant step in Lindblad Expeditions' evolution, underlining its commitment to enhancing operational efficiency while maintaining a focus on delivering exceptional travel experiences. For additional insights into Lindblad Expeditions and its growing portfolio, stakeholders are encouraged to visit their investor relations website.