Press release
Lindblad Expeditions Holdings, Inc. Announces Commencement of Exchange Offer and Consent Solicitation Relating to its Warrants
NEW YORK, June 14, 2019 /PRNewswire/ -- Lindblad Expeditions Holdings, Inc. (NASDAQ: LIND; the "Company" or "Lindblad") announced today that it has commenced
About this update from Lindblad Expeditions Holdings Inc.
[{"type":"text","content":"\n \n NEW YORK, June 14, 2019 /PRNewswire/ -- Lindblad Expeditions Holdings, Inc. (NASDAQ: LIND; the \"Company\" or \"Lindblad\") announced today that it has commenced an Exchange Offer and Consent Solicitation relating to its outstanding Warrants. The purpose of the Exchange Offer and Consent Solicitation is to simplify Lindblad's corporate structure and reduce the potential dilutive impact of the Warrants, thereby providing the Company with more flexibility for financing its operations in the future.\nThe Offer and Consent Solicitation are being made pursuant to a Prospectus/Offer to Exchange dated June 14, 2019, and Schedule TO, dated June 14, 2019, each of which are filed with the SEC and more fully set forth the terms and conditions of the Offer and Consent Solicitation. Until the Expiration Date, the Company is offering to holders of its Warrants the opportunity to receive 0.385 shares of its common stock in exchange for each of the outstanding Warrants tendered by the holder and exchanged pursuant to the Exchange Offer. The Exchange Offer and Consent Solicitation are being made to:\nAll holders of the Company's publicly traded warrants (the \"Public Warrants\") to purchase shares of the Company's common stock that were issued in connection with the Company's initial public offering, which entitle such Warrant holders to purchase one share of the Company's common stock for a purchase price of $11.50, subject to adjustments. As of June 13, 2019, 4,745,908 Public Warrants were outstanding. All holders of Lindblad's warrants to purchase common stock that were privately issued to certain sponsors of the Company in connection with its IPO and in connection with the conversion of certain convertible notes into warrants (the \"Private Warrants\"). As of June 13, 2019, 5,339,566 Private Warrants were outstanding. The terms of the Private Warrants are identical to the Public Warrants, except that the Private Warrants are exercisable for cash or on a cashless basis and are not redeemable by the Company, in each case so long as they are still held by the initial purchasers or their affiliates. The Public Warrants and Private Warrants are collectively referred to as the \"Warrants.\"Pursuant to the Offer, the Company is offering up to an aggregate of 3,882,907 shares of the Company's common stock in exchange for the Warrants.\nConcurr...