LINDBLAD EXPEDITIONS HOLDINGS, INC. (LIND) Form 8-K — Sep 15, 2026
Lindblad Expeditions Holdings (NASDAQ: LIND) has acquired a 60% controlling interest in White Desert Ltd, PNR Airways Ltd and Echo Charlie Ltd — the pioneering luxury Antarctic operator and a new aviation travel brand — for an aggregate cash purchase price of approximately $61 million plus approximately $6 million for balance-sheet cash, subject to customary true-ups. CEO Natalya Leahy called it the largest transaction in the company's history. Lindblad holds two options to buy the remaining equity interests, exercisable in two equal tranches within 30 days of December 31, 2030 and 2031, priced off the purchased companies' EBITDA at that time.
Key figures
- Guidance
- FY2026 tour revenues of $850-$880 million; Net Yield per Available Guest Night growth of 5.5%-6.5%; Adjusted EBITDA of $140-$148 million
- Deal Value Usd
- approximately $61 million plus approximately $6 million for cash on the balance sheet
- Acquired Stake
- 60% controlling interest in each of White Desert Ltd, PNR Airways Ltd and Echo Charlie Ltd
- Specific Tax Claims Cap
- $2,000,000
- Remaining Equity Options
- two options to purchase remaining equity in equal tranches within 30 days of December 31, 2030 and 2031, priced on EBITDA at the time
- Total Cash Consideration
- approximately $67 million including balance-sheet cash
- Warranty Claim De Minimis
- $30,000 per individual business/tax warranty claim
- Warranty Claim Threshold
- $168,750 aggregate threshold for business/tax warranty claims
- Seller Warranty Liability Cap
- $1.00 for fundamental, business and tax warranty claims (recourse above cap via W&I insurance policy)
AI analysis
The rest of the AI analysis, red flags and sentiment are part of Signal8 Pro.
AI-generated analysis of a public disclosure. Not investment advice; verify against the original document.