Capitol Acquisition merger partner gets upsized $150 million facility

By Susanna Moon

Chicago, May 11 – Capitol Acquisition Corp. II said that Lindblad Expeditions, Inc., its proposed merger partner, has increased its credit facility to $150 million with Credit Suisse AG as administrative agent and collateral agent.

The incremental proceeds will be used for general corporate purposes with remaining proceeds to be used to repay debt and for the buyout of some stakeholders.

The financing was increased from $120 million

The proposed merger between Capitol and Lindblad is expected to close in the second quarter of 2015 and is subject to approval by Capitol stockholders, according to a company press release.

Lindblad Expeditions is an expedition travel company based in New York.

Capitol Acquisition is a public investment vehicle based in Washington, D.C.

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