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

Core Viewpoint - Lindblad Expeditions Holdings, Inc. has announced the exercise of its mandatory conversion right on all outstanding shares of its 6.0% Series A Convertible Preferred Stock, which is expected to strengthen its balance sheet and simplify its capital structure [1][4]. Group 1: Mandatory Conversion Details - The mandatory conversion was triggered on January 16, 2026, when the volume-weighted average price of the company's common stock exceeded $14.25 for at least 20 out of 30 consecutive trading days [2]. - The effective date for the mandatory conversion is set for February 3, 2026, at which point all 62,000 shares of Preferred Stock will be converted into approximately 9.0 million shares of common stock [3]. - Post-conversion, assuming no additional issuances, Lindblad will have approximately 64.4 million shares of common stock outstanding, with no Preferred Stock remaining [3]. Group 2: Company Overview - Lindblad Expeditions is a leader in global expedition travel, offering immersive journeys across all seven continents through its six brands [4]. - The company collaborates with National Geographic to provide ship-based voyages that allow guests to explore remote destinations alongside scientists and naturalists [4]. - Lindblad's portfolio includes award-winning land-based brands that offer wildlife, cultural, and adventure-focused experiences, fostering a deep appreciation for the planet [4].