Lindblad Expeditions Holdings Proposes Senior Secured Notes Offering of $650 Million for Strategic Growth

Lindblad Expeditions Holdings, Inc. Announces Proposed Private Offering of Senior Secured Notes

Lindblad Expeditions Holdings, Inc. (Nasdaq: LIND) has made a significant announcement regarding its financial strategy. In a recent press release dated August 5, 2025, the company revealed its intention to offer an aggregate principal amount of $650 million in senior secured notes due 2030 through its wholly-owned subsidiary, Lindblad Expeditions, LLC. This strategic move is both a response to current market conditions and a proactive approach to enhancing the company's capital structure.

The newly proposed notes are set to become senior obligations of the Issuer and will also benefit from guarantees provided by Lindblad and several of its subsidiaries. Importantly, these notes will be secured by a first-priority lien on a substantial portion of the Issuer's assets as well as those of the guarantors, subject to certain exceptions. This structure is designed to instill investor confidence and bolster the company's financial standing.

Purpose of the Offering

The net proceeds from this offering will primarily be directed toward two major objectives. Firstly, they will be used to fund a tender offer for Lindblad's outstanding 6.750% Senior Secured Notes set to mature in 2027. Secondly, part of the funds will be allocated to redeem all of Lindblad's 9.000% Senior Secured Notes due in 2028, including related fees and expenses. This approach not only consolidates Lindblad's debt but also enables the company to capitalize on potential savings from lower interest rates, thereby optimizing its overall financial performance.

Additionally, the Issuer plans to call for the redemption of any remaining 2027 Notes that are not tendered in the offer, further enhancing its capital management.

Regulatory Disclosure

It is essential to note that the New Notes and their associated guarantees have not yet been registered under the Securities Act of 1933, nor under any relevant state or foreign securities laws. As such, they will be exclusively offered to qualified institutional buyers in accordance with Rule 144A of the Securities Act, alongside regulations stipulated for international buyers.

In accordance with the law, this announcement should not be construed as an offer to sell or solicit offers to buy the New Notes or any other securities. The offering is also not being made in any jurisdiction where it would be illegal to do so.

Company Profile

Lindblad Expeditions Holdings, Inc. is a prominent player in the expedition travel sector, operating under its flagship brand and through various subsidiaries, including Natural Habitat Adventures and Classic Journeys. Collaborating closely with National Geographic, Lindblad is committed to fostering a deeper understanding and appreciation for the world's natural beauty while promoting sustainable tourism practices. By offering a blend of marine and land-based expeditions, the company provides unique opportunities for travelers to engage with the environment and learn from leading experts in the field.

Lindblad's expeditions are not just about travel—they are educational experiences designed to inspire individuals to explore, appreciate, and ultimately protect the planet. With a focus on conservation, the company continues to innovate its offerings, ensuring that travelers can experience the untouched beauty of the world's most remote locations responsibly.

Looking Ahead

As Lindblad moves forward with this offering, the company is aware of the uncertainties and risks that come with forward-looking statements regarding its financial strategies. Factors such as geopolitical dynamics, economic conditions, and operational challenges all play a crucial role in shaping the future of Lindblad Expeditions. The company has specified in its communications that various risks could affect its actual outcomes, insisting that stakeholders should carefully consider these elements when evaluating their financial prospects.

In summary, with this strategic offering of senior secured notes, Lindblad Expeditions Holdings is poised to solidify its financial position while advancing its mission of transforming the way people connect with the world through travel. Whether through thrilling marine adventures or immersive land experiences, Lindblad remains an industry leader dedicated to enriching lives while preserving the environment for future generations.