---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-26-030390"
form_type: "8-K"
ticker: "LIND"
cik: "0001512499"
company_name: "LINDBLAD EXPEDITIONS HOLDINGS, INC."
filed_at: "2026-09-15T11:55:21+00:00"
generated_at: "2026-09-15T12:00:09.709363+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Lindblad acquires 60% of White Desert & Echo Charlie for ~$61M; raises FY2026 guidance

## Summary
- Deal value: ~$61M cash plus ~$6M acquired cash, subject to working capital true-ups; 60% controlling stake in White Desert, PNR Airways, Echo Charlie.
- Options to buy remaining equity in two tranches within 30 days after Dec 31, 2030 and 2031, priced on future EBITDA.
- Patrick Woodhead to serve as Chairman of White Desert, CEO of Echo Charlie, and Strategic Innovation Advisor at Lindblad.
- FY2026 guidance raised: tour revenue $850-880M, net yield 5.5-6.5%, Adjusted EBITDA $140-148M.
- Acquisition described as largest transaction in Lindblad's history; expands Antarctic luxury and aviation experiential travel.

## SEC filing metadata
- accession: 0001437749-26-030390
- form_type: 8-K
- ticker: LIND
- cik: 0001512499
- company_name: LINDBLAD EXPEDITIONS HOLDINGS, INC.
- filed_at: 2026-09-15T11:55:21+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1512499/000143774926030390/0001437749-26-030390-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1512499/000143774926030390/lindb20260914_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-26-030390
- JSON: https://secwatch.observer/filing/0001437749-26-030390.json
- Plain text: https://secwatch.observer/filing/0001437749-26-030390.txt

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