Lindblad Expeditions Holdings, Inc. filed a Form 8-K on September 15, 2026, disclosing that a subsidiary entered into a Purchase Agreement on September 14, 2026 to acquire a 60% controlling interest in White Desert Ltd, PNR Airways Ltd, and Echo Charlie Ltd for an aggregate cash purchase price of approximately $61 million.

Key Highlights

  • 60% controlling interest acquired: Lindblad's subsidiary purchased a majority stake in each of White Desert Ltd, PNR Airways Ltd, and Echo Charlie Ltd.
  • Purchase price approximately $61 million: The aggregate cash consideration was approximately $61 million, plus approximately $6 million for cash on the balance sheet, subject to customary true-up adjustments.
  • Two options to buy remaining equity: The company holds options to purchase the remaining interests in two equal tranches, exercisable within 30 days of December 31, 2030 and December 31, 2031, respectively, at a price based on EBITDA at such time.
  • Updated financial guidance issued: The company issued a press release on September 15, 2026 announcing the transaction and updated financial guidance following the acquisition.
  • Employment agreements signed: The company also entered into employment agreements with certain key employees of the acquired companies.

Lindblad Expeditions Details Antarctic and Aviation Travel Acquisition

According to the filing, a subsidiary of Lindblad Expeditions Holdings, Inc. (NASDAQ:LIND) entered into a Sale and Purchase Agreement on September 14, 2026 to acquire a 60% controlling interest in White Desert Ltd, PNR Airways Ltd, and Echo Charlie Ltd. The filing describes these companies as "pioneering Antarctic expeditions and providing aviation based experiential travel for modern-day explorers." The aggregate cash purchase price was reported as approximately $61 million, with an additional approximately $6 million attributable to cash on the balance sheet of the acquired companies, subject to customary adjustments for working capital, cash, and indebtedness.

The Purchase Agreement, filed as Exhibit 10.1 and dated September 14, 2026 with Lindblad Expeditions UK LTD, contains customary representations, warranties, covenants, and indemnities, the company disclosed. Lindblad also holds two options to purchase the remaining equity interests in the acquired companies, exercisable in two equal tranches within 30 days of December 31, 2030 and December 31, 2031 (subject to extensions), at a purchase price based on the EBITDA of the companies at the applicable time.

Under Item 7.01, the filing notes that on September 15, 2026, the company issued a press release and made available an investor presentation regarding the transaction and updated financial guidance. The filing specifies that the information furnished under Item 7.01, including Exhibits 99.1 and 99.2, is not deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, and is not incorporated by reference into other regulatory filings except as expressly set forth. The 8-K was signed by Frederick Goldberg, Chief Financial Officer, on September 15, 2026.

What Was Disclosed

Lindblad Expeditions Holdings disclosed the acquisition of a 60% stake in three Antarctic and aviation travel companies for approximately $61 million cash, plus approximately $6 million for balance sheet cash, along with options to acquire the remaining equity interests by 2030 and 2031.