Lindblad Expeditions Initiates Mandatory Conversion of Preferred Stock to Boost Financial Stability

Lindblad Expeditions Boosts Financial Position with Stock Conversion

Lindblad Expeditions Holdings, Inc. (NASDAQ: LIND), renowned for delivering unique expedition cruises and adventure travel experiences, has made headlines with its recent announcement regarding the mandatory conversion of its Series A Convertible Preferred Stock. This strategic move, officially communicated on January 20, 2026, signifies a major step in the company’s efforts to strengthen its financial footing and enhance its operational flexibility.

The decision to transition all outstanding shares of the 6.0% Series A Convertible Preferred Stock into common stock is expected to streamline Lindblad’s capital structure significantly. This mandatory conversion was triggered after Lindblad’s common stock price exceeded $14.25 for a minimum of 20 trading days, showcasing a robust stock performance that culminated on January 16, 2026. Consequently, Lindblad plans to convert the 62,000 shares of Preferred Stock into approximately 9 million shares of common stock on February 3, 2026, a pivotal date for the company’s financial evolution.

Rick Goldberg, the Chief Financial Officer of Lindblad, expressed enthusiasm over this transition, emphasizing how it will simplify the company’s capital structure and fortify its balance sheet. Goldberg stated, “This conversion is a significant move that provides us with greater flexibility to allocate capital in support of our long-term strategy.” The implications of this conversion are expansive, as they not only suggest a consolidation of shares but also potentially enhance shareholder value moving forward.

Lindblad Expeditions has positioned itself as a leader in global expedition travel, offering a range of immersive experiences that encompass all seven continents through its varied and innovative brands. With partnerships alongside prominent organizations like National Geographic, Lindblad operates ship-based voyages that invite travelers to explore distant and often uncharted territories with renowned scientists and naturalists. This collaborative approach allows guests to engage with the environment using state-of-the-art exploratory tools, further enriching their travel experiences.

Aside from its cruise operations, Lindblad boasts a commendable portfolio of land-based brands, including Natural Habitat Adventures, Off the Beaten Path, and DuVine Cycling + Adventure Co. These offerings deliver unique, comprehension-rich journeys designed to connect travelers with extraordinary wildlife and cultural experiences globally, thus fostering a deeper appreciation of the natural world.

This mandatory conversion comes at a crucial time for Lindblad as travel and expedition industries gradually rebound from the impacts of global disruptions and health crises. By simplifying its capital structure, Lindblad is taking proactive steps to ensure it remains agile and responsive to the market's needs, allowing for potential growth and expansion as consumer confidence in travel continues to recover.

As Lindblad Expeditions dives into 2026 with this new financial strategy, its stakeholders are undoubtedly eager to see how these changes will reflect in their investment and the company’s broader objectives. As the travel industry continues to evolve, Lindblad’s commitment to responsible exploration and sustainable practices will remain paramount, offering meaningful and inspiring experiences to its travelers.

To keep up with Lindblad Expeditions' latest updates and developments regarding their portfolio of brands and commitment to environmentally responsible travel, visit investors.expeditions.com.

This announcement should not be misconstrued as an offer to sell or solicit any securities from the company. It represents a significant milestone in Lindblad’s strategy to maintain a promising outlook within the rapidly changing landscape of global travel.