---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-045922"
form_type: "8-K"
ticker: "LIND"
cik: "0001512499"
company_name: "LINDBLAD EXPEDITIONS HOLDINGS, INC."
filed_at: "2023-04-17T23:59:59+00:00"
generated_at: "2026-06-17T01:20:18.680512+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Lindblad launches $275M senior secured notes offering, provides preliminary Q1 results

## Summary
- Total tour revenues expected $141-144M for Q1 2023 vs $67.8M in Q1 2022.
- Adjusted EBITDA expected $26-28M vs an adjusted EBITDA loss of $21.2M in Q1 2022.
- Lindblad segment occupancy 81% vs 66% YoY; Net Yield per Available Guest Night $1,200-1,220 vs $739.
- Full year 2023 bookings as of April 10, 2023 are 46% ahead of the comparable pre-COVID period in April 2019.
- Offering $275M senior secured notes due 2028 to prepay export credit facilities on two vessels (National Geographic Endurance and Resolution).

## SEC filing metadata
- accession: 0001104659-23-045922
- form_type: 8-K
- ticker: LIND
- cik: 0001512499
- company_name: LINDBLAD EXPEDITIONS HOLDINGS, INC.
- filed_at: 2023-04-17T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 2.02, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1512499/000110465923045922/0001104659-23-045922-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1512499/000110465923045922/tm2312910d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-045922
- JSON: https://secwatch.observer/filing/0001104659-23-045922.json
- Plain text: https://secwatch.observer/filing/0001104659-23-045922.txt

## Key facts
- Earnings Releases
  LINDBLAD EXPEDITIONS HOLDINGS, INC. reported the first quarter ended March 31, 2023 results: revenue in the range of approximately $141 million to $144 million.
  - Period: the first quarter ended March 31, 2023
  - Revenue: in the range of approximately $141 million to $144 million
  - Result: preliminary results
  source text: First Quarter 2023 Preliminary Estimated Financial Results For the first quarter ended March 31, 2023, the Company expects to report: · Total tour revenues for the three months ended March 31, 2023 in the range of approximately $141 million to $144 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1512499/000110465923045922/0001104659-23-045922-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.