Lindblad acquires additional 5% of Natural Habitat for $16.6M, raising ownership to 95%

LINDBLAD EXPEDITIONS HOLDINGS, INC.

Acquired 5% interest from Ben Bressler, founder/CEO of Natural Habitat, for $16,586,787.
Transaction executed via put right under existing stockholders' agreement; total ownership now 95%.
Bressler retains 5% noncontrolling interest, subject to ongoing put/call arrangement.
Deal closed March 3, 2026; no other terms or financing disclosed.

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