Lindblad completes warrant exchange offer

Lindblad Expeditions Holdings completed its previously announced warrant exchange offer and consent solicitation relating to certain outstanding warrants.

Holders were invited to exchange each warrant for 0.385 shares of common stock and were entitled to purchase shares for $11.50.

Nearly 10m warrants tendered

When the exchange offer expired on July 12, 9.935m outstanding warrants, or approximately 98.5%, were tendered and not withdrawn. They will be exchanged for common stock on or about July 17.

In addition, Lindblad received the approval of approximately 98.5% of the outstanding warrants to amend the warrant agreement. The amended agreement gives the company the right to require the holders of warrants not tendered in the exchange offer to exchange their warrants for stock at a ratio of 0.36575 shares for each warrant.

Lindblad plans to exercise this right, and the exchange is expected to take place on or about Aug. 1.

 

Posted 15 July 2019

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Anne Kalosh

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Editor, Seatrade Cruise News & Senior Associate Editor, Seatrade Cruise Review Anne Kalosh covers global stories, reporting both breaking and in-depth news on cruising's significant people, places, ships and trends. A sought-after expert on cruising, she has moderated conferences around the world, including the high-profile State of the Industry panel at Seatrade Cruise Global. She created and led the acclaimed itinerary-planning case study for Seatrade's cruise master classes held at Cambridge and Oxford universities. She is the cruise columnist for AFAR.com, and her freelance stories have appeared in a wide range of publications, from The New York Times to The Miami Herald.

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