Lindblad Expeditions Simplifies Capital Structure with Mandatory Conversion of Preferred Stock

Lindblad Expeditions Simplifies Capital Structure with Mandatory Conversion of Preferred Stock

Lindblad Expeditions Holdings, Inc., a prominent name in global expedition cruises and adventure travel, announces a significant financial development with the exercise of its Mandatory Conversion right on its 6.0% Series A Convertible Preferred Stock. This decision, triggered by the company’s common stock price surpassing $14.25 for 20 out of 30 consecutive trading days, reflects Lindblad’s proactive approach to strengthening its financial foundation. The Mandatory Conversion is set to take effect on February 3, 2026, allowing for the conversion of approximately 62,000 shares of Preferred Stock into around 9.0 million shares of common stock. Following this transition, Lindblad anticipates having approximately 64.4 million shares of common stock outstanding, effectively eliminating all Preferred Stock.

Chief Financial Officer Rick Goldberg expresses confidence in this strategic move, highlighting that the conversion simplifies Lindblad’s capital structure. By reducing complexity in its equity financing, the company positions itself for enhanced capital allocation flexibility, aligning with its long-term strategic goals. This transition is not merely a financial maneuver; it symbolizes Lindblad's commitment to a robust balance sheet that can support its mission in the expedition travel sector. The simplification of the capital structure is seen as a vital step to bolster its operational capabilities and foster future growth opportunities.

Lindblad Expeditions is well-regarded for delivering immersive travel experiences across all seven continents, often in collaboration with National Geographic. The company offers unique ship-based voyages that blend exploration with education, catering to a growing segment of travelers seeking meaningful and responsible adventures. Their diverse portfolio of award-winning brands, including Natural Habitat Adventures and DuVine Cycling + Adventure Co., showcases a commitment to providing distinctive wildlife, cultural, and adventure experiences that resonate with environmentally conscious consumers. Lindblad's focus on responsible exploration not only enriches its customer offerings but also cultivates a deep appreciation for the planet's diverse landscapes and cultures.

In addition to these strategic financial developments, Lindblad Expeditions continues to prioritize sustainable travel practices. By fostering a strong connection between travelers and the natural world, the company reinforces its mission of responsible exploration. As Lindblad moves forward with its enhanced capital structure, it remains dedicated to delivering authentic experiences while advocating for the preservation of the planet's unique environments. For more information about Lindblad Expeditions and its expanding travel portfolio, interested parties can visit their investor relations website.