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NEW YORK - Lindblad Expeditions Holdings, Inc. (NASDAQ:LIND), with a market capitalization of $715 million, announced Wednesday that its subsidiary has priced $675 million of 7.000% senior secured notes due 2030, representing a $25 million increase from the initially planned offering amount.
The notes will be issued at par, with the offering expected to close around August 20, 2025, subject to customary closing conditions. The notes will be senior obligations of Lindblad Expeditions, LLC and guaranteed by Lindblad and certain subsidiaries, secured by a first-priority lien on substantially all assets of the issuer and guarantors. According to InvestingPro data, the company’s current ratio of 0.72 indicates tight liquidity, with short-term obligations exceeding liquid assets.
Proceeds from the offering will fund the company’s previously announced tender offer for its outstanding 6.750% Senior Secured Notes due 2027 and the redemption of all of its 9.000% Senior Secured Notes due 2028. Any remaining funds will be allocated to general corporate purposes.
The new notes are being offered only to qualified institutional buyers under Rule 144A of the Securities Act and to persons outside the United States under Regulation S. The notes have not been registered under the Securities Act and cannot be sold in the United States without an exemption from registration requirements.
Lindblad Expeditions is a global expedition travel company offering educational journeys across all seven continents through its six brands, including its co-branded expeditions with National Geographic. The company has demonstrated strong growth with revenue increasing 18.74% over the last twelve months. Discover more detailed insights and 8 additional key tips about LIND with InvestingPro’s comprehensive research report.
This information is based on a press release statement from the company.
In other recent news, Lindblad Expeditions Holdings Inc. reported better-than-expected earnings for the second quarter of 2025. The company posted an earnings per share of -$0.18, outperforming the forecast of -$0.28, and revenue reached $167.9 million, surpassing the expected $159.18 million. Additionally, Lindblad Expeditions announced a $650 million senior secured notes offering due in 2030, guaranteed by the company and certain subsidiaries. Concurrently, the company initiated a cash tender offer to purchase its outstanding 6.750% Senior Secured Notes due 2027, totaling $360 million. Stifel raised its price target for Lindblad Expeditions to $18.00 from $17.00, maintaining a Buy rating due to the company’s strong quarterly performance, including improved load factors and EBITDA margins. These developments reflect significant operational improvements and strategic financial maneuvers by the company.
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