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LINDBLAD EXPEDITIONS ANNOUNCES MANDATORY CONVERSION OF 6.0% SERIES A CONVERTIBLE PREFERRED STOCK

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Mandatory conversion expected to further strengthen balance sheet NEW YORK, Jan. 20, 2026 /PRNewswir...

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Lindblad Expeditions announced a Mandatory Conversion of its preferred stock set for February 3, 2026. This move simplifies their capital structure and improves financial health, potentially enhancing investor confidence and attracting new capital to support growth strategies.

Sentiment Rationale

The conversion strengthens Lindblad's balance sheet and may attract long-term investors, potentially driving stock prices higher based on improved fundamentals.

Trading Thesis

LIND is positioned for potential upward movement post-conversion; consider buying before February 2026.

Market-Moving

  • Mandatory Conversion slated for February could boost share price as supply increases.
  • Enhanced balance sheet may lead to increased investor confidence in LIND.
  • Company expects improved capital allocation flexibility, supporting future growth strategies.

Key Facts

  • Lindblad approved the Mandatory Conversion of preferred stock.
  • Conversion enhances financial stability and simplifies capital structure.
  • Nine million new common shares will be issued by February 3, 2026.
  • Lindblad's stock price has been consistently over $14.25 recently.
  • No preferred shares will remain after the conversion.

Companies Mentioned

  • National Geographic (NGT): Lindblad partners with National Geographic, enhancing brand visibility and market credibility.

Corporate Developments

This falls under 'Corporate Developments' as the mandatory conversion reflects strategic changes in Lindblad's capital structure and operational flexibility, important for future growth.

Lindblad Expeditions Announces Mandatory Conversion of Convertible Preferred Stock

Lindblad Expeditions Holdings, Inc. (NASDAQ: LIND), a prominent player in the expedition cruise and adventure travel industry, has announced a significant corporate development. The company has exercised its right for a mandatory conversion of all outstanding shares of its 6.0% Series A Convertible Preferred Stock. This decision was made to enhance the Company's capital structure and to fortify its balance sheet.

Details of the Mandatory Conversion

The conversion became effective on January 16, 2026, following a stipulated condition where the volume-weighted average price of LIND's common stock exceeded $14.25 for at least 20 out of 30 consecutive trading days. The effective date for this mandatory conversion is set for February 3, 2026.

  • All 62,000 shares of Preferred Stock will be converted into approximately 9.0 million shares of LIND common stock.
  • Post-conversion, the total number of outstanding common shares will reach approximately 64.4 million.
  • No shares of Preferred Stock will remain outstanding following this conversion.

Implications of the Conversion

Rick Goldberg, Chief Financial Officer of Lindblad, expressed satisfaction with this strategic move. He stated, “We're pleased to build on our recent progress by converting the preferred stock, which further simplifies our capital structure and strengthens our balance sheet. This provides LIND with greater flexibility to allocate capital in support of our long-term strategy.”

About Lindblad Expeditions Holdings, Inc.

Lindblad is a leader in the global expedition travel sector, offering immersive and educational experiences across all seven continents. The company collaborates with National Geographic to provide unique ship-based voyages that allow guests to explore remote destinations alongside experts in science and naturalism.

The company boasts a varied portfolio of brands, including:

  • Natural Habitat Adventures
  • Off the Beaten Path
  • DuVine Cycling + Adventure Co.
  • Classic Journeys
  • Wineland-Thomson Adventures

Together, these brands facilitate extraordinary wildlife, cultural, and adventure-focused experiences that promote a profound appreciation for the natural world.

For more details on Lindblad Expeditions Holdings, Inc. and its brands, visit investors.expeditions.com.

Important Notice

This announcement does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company and shall not constitute an offer, solicitation, or sale in any jurisdiction where such activities would be unlawful.

Forward-Looking Statements

This press release includes “forward-looking statements” as defined by the Private Securities Litigation Reform Act of 1995. These statements reflect expectations concerning the Mandatory Conversion and generally include terms such as "anticipate," "expect," or similar expressions. Actual results may differ due to various risks and uncertainties, including economic factors and operational challenges. For more information, consult the Company's filings with the U.S. Securities and Exchange Commission (SEC).

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