Lindblad Expeditions Completes Merger With Capitol

Lindblad Expeditions Completes Merger With Capitol

Expedition cruise provider Lindblad Expeditions has completed its USD 439 million merger with a Nasdaq-listed public investment company Capitol Acquisition Corp. II.

The combined company will be listed on the Nasdaq under the name Lindblad Expeditions Holdings.

The new company’s common stock, units and warrants will begin trading on the Nasdaq Stock Market under the new symbols LIND, LINDU and LINDW, respectively, on or around July 9.

The current stockholders of Capitol and the current owners of Lindblad will hold approximately 50% and 49%, respectively, of the issued and outstanding shares of the combined company’s common stock including in-the-money options, with the Lindblad Expeditions – National Geographic Joint Fund for Exploration and Conservation owning approximately 1%.

“Completing the merger with Capitol and entering the public markets represents an important and exciting milestone for us,” said Sven-Olof Lindblad, President and Chief Executive Officer of Lindblad.

”The equity capital and public currency from the merger, together with funds from our recent debt financing, give us significant resources to capitalize on the substantial demand for our expeditions by expanding the fleet and opportunistically seeking accretive strategic acquisitions. With this capital and a strong balance sheet, we are confident in the long-term growth prospects for our business.”

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