#United States #New York #Senior Secured Notes #Lindblad Expeditions #Private Offering

Lindblad Expeditions Holdings: Recent Developments on Senior Secured Notes

Lindblad Expeditions Holdings, Inc., a leader in the realm of global expedition travel, has recently made headlines with its announcement regarding an upsize in its private offering of senior secured notes. This strategic decision underscores the company's commitment to enhancing its capital structure and positioning itself for future growth.

On August 6, 2025, Lindblad disclosed that its wholly-owned subsidiary, Lindblad Expeditions, LLC, has successfully priced $675 million in aggregate principal amount of 7.000% senior secured notes that are due in 2030. This culmination marks an increase of $25 million from the initially anticipated offering amount, showcasing investor confidence and interest. The private offering is expected to close on or around August 20, 2025, depending on standard closing conditions being met.

Targeted Use of Proceeds

The funds raised through this offering are earmarked for several significant purposes:
1. Tender Offer: The primary use will be to finance the tender offer for all outstanding 6.750% Senior Secured Notes due in 2027, allowing the company to manage its debt effectively.
2. Redemption Plans: Additionally, the proceeds will contribute to the redemption of all of Lindblad's existing 9.000% Senior Secured Notes due in 2028. This initiative reflects a proactive approach to optimizing its debt portfolio and reducing interest obligations.
3. General Corporate Purposes: Any remaining funds will be allocated for general corporate activities, aiding in the company's continuous operational management.

It's worth noting that these new notes will be senior obligations of the Issuer, further guaranteed by Lindblad itself along with specific subsidiaries. This layered guarantee offers a solid backing to investors, ensuring a first-priority lien on nearly all the assets related to both the Issuer and its guarantors, subject to certain allowances and exceptions.

Audience and Compliance Considerations

The offering will adhere to the stipulations outlined in the Securities Act of 1933. It will only be made available to qualified institutional buyers under Rule 144A and to international participants in compliance with Regulation S, thus ensuring that Lindblad navigates the regulatory landscape effectively. This strategic planning safeguards Lindblad from pitfalls associated with unregistered offerings or solicitation in jurisdictions where such actions could be unlawful.

This press release is instrumental in setting the stage for Lindblad's future capital endeavors while also emphasizing the importance of safe harbor provisions regarding forward-looking statements that forecast certain aspects of the company's financial maneuvers.

About Lindblad Expeditions

Lindblad Expeditions is renowned for its immersive travel experiences that extend across all seven continents. The company is dedicated to environmentally responsible exploration, collaborating closely with National Geographic to provide educational journeys that captivate and inspire travelers. Through a diverse portfolio of both ship-based and land-based brands, including Natural Habitat Adventures and Classic Journeys, Lindblad creates unique opportunities for travelers to connect deeply with some of the planet's most breathtaking and culturally rich locales.

Their mission revolves around wildlife conservation and sustainable travel, which is increasingly important in today's global landscape. Lindblad believes that trip experiences should foster an appreciation for our planet while ensuring that local communities benefit from tourism.

Conclusion

As Lindblad Expeditions sets its sights on strategic growth through this new offering of senior secured notes, stakeholders and investors watch closely. The steps taken today may likely shape the future trajectory of this expedition travel leader, providing them with the necessary tools to further their impact and outreach in the travel industry. In doing so, Lindblad continues its role not just as a travel provider, but as a steward of the world’s natural and cultural heritage.