Press release
Lindblad Expeditions Holdings, Inc. Announces Cash Tender Offer and Consent Solicitation for any and all Outstanding 6.750% Senior Secured Notes due 2027 of Lindblad Expeditions, LLC
NEW YORK, Aug. 5, 2025 /PRNewswire/ -- Lindblad Expeditions Holdings, Inc. (Nasdaq: LIND) ("Lindblad") announced today that its wholly-owned subsidiary,
About this update from Lindblad Expeditions Holdings Inc.
[{"type":"text","content":"NEW YORK, Aug. 5, 2025 /PRNewswire/ -- Lindblad Expeditions Holdings, Inc. (Nasdaq: LIND) (\"Lindblad\") announced today that its wholly-owned subsidiary, Lindblad Expeditions, LLC (the \"Issuer\"), has commenced an offer to purchase for cash (the \"Tender Offer\") any and all of the Issuer's outstanding 6.750% Senior Secured Notes due 2027 (the \"Notes\"), of which $360 million aggregate principal amount is currently outstanding.\n\nIn conjunction with the Tender Offer, the Issuer is also soliciting consents (the \"Consent Solicitation\") to adopt certain proposed amendments to the indenture governing the Notes (the \"Indenture\") to (1) eliminate substantially all of the restrictive covenants and certain affirmative covenants and events of default and related provisions therein (the \"Proposed Amendments\") and (2) release the Notes as secured debt under the collateral trust agreement governing the collateral for the Notes, the result of which will be that the trustee and the holders of the Notes shall cease to receive the benefit of the collateral currently securing the Notes and the guarantees thereof (the \"Collateral Release\"). The Proposed Amendments require the consent of holders of a majority in aggregate principal amount of the then outstanding Notes (the \"Covenant Requisite Consent\") and the Collateral Release requires the consent of holders of at least 75% in aggregate principal amount of the outstanding Notes (the \"Collateral Release Requisite Consent\" and, together with the Covenant Requisite Consent, the \"Requisite Consents\").\nThe Tender Offer and the Consent Solicitation are being made pursuant to the Offer to Purchase and Consent Solicitation Statement, dated August 5, 2025 (the \"Offer to Purchase and Consent Solicitation Statement\").\nCertain information regarding the Notes and the terms of the Tender Offer is summarized in the table below.\nTitle of Security\nCUSIP Nos. /ISINs\nPrincipal Amount Outstanding\nUST Reference Security\nBloomberg Reference Page(1)\nFixed Spread (bps)\nEarly Tender Payment(2)(3)\n6.750% Senior Secured Notes due 2027\nCUSIP: 53523LAA8 (144A) and U5347LAA9 (Reg S);\nISIN: US53523LAA89 (144A) and USU5347LAA99 (Reg S)\n$360 million\n1.625% due February 15, 2026\nFIT3\n+50\n$30.00\n \n(1) The page on Bloomberg from which the dealer manager will quote the bid side price of the U....