Lindblad Expeditions (US:LIND) Prnewswireยท2025-08-05 13:32Core Viewpoint - Lindblad Expeditions Holdings, Inc. has initiated a cash tender offer to purchase all outstanding 6.750% Senior Secured Notes due 2027, totaling $360 million in principal amount [1][2]. Tender Offer Details - The tender offer includes a consent solicitation to amend the indenture governing the Notes, aiming to eliminate most restrictive covenants and release the Notes from secured debt status [2][9]. - The consent for the proposed amendments requires a majority of the outstanding Notes, while the collateral release requires at least 75% consent [2]. Financial Terms - The tender offer is set to expire on September 3, 2025, with an early tender deadline on August 18, 2025, where early participants will receive an additional payment [5][8]. - The total consideration for the Notes will be based on the yield to maturity of a specified U.S. Treasury reference security plus a fixed spread [7]. Settlement Dates - The expected settlement date for Notes tendered by the early deadline is August 20, 2025, while those tendered after will settle by September 5, 2025 [8]. Redemption Plans - The company plans to redeem any Notes not tendered by February 15, 2026, at 100% of the principal amount plus accrued interest [11]. Company Overview - Lindblad Expeditions is an expedition travel company focusing on ship-based and land-based travel, partnering with National Geographic for conservation and sustainable tourism initiatives [16][17].