---
schema_version: "secwatch.filing_event.v1"
accession: "0001133311-22-000038"
form_type: "8-K"
ticker: "TZOO"
cik: "0001133311"
company_name: "TRAVELZOO"
filed_at: "2022-11-25T23:59:59+00:00"
generated_at: "2026-06-21T12:58:38.402599+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Travelzoo to issue 3.41M shares to largest shareholder for $10M cash/note and Metaverse subsidiary; will own 50.01%

## Summary
- Issues 3,410,000 shares to Azzurro Capital at $5.88/share in exchange for $10M (cash or note with $2M min cash) and all equity of MTE.
- Post-closing, Azzurro and affiliates will own 50.01% of Travelzoo; deal requires shareholder approval, expected close Dec 28, 2022.
- MTE runs a metaverse scouting business with significant NOLs; will be absorbed into Travelzoo after closing.
- Ralph Bartel to resign as director and Chairman while the promissory note remains outstanding.
- Price adjustable if TZOO stock moves 10%+ from $5.88 for 15 consecutive days before close.

## SEC filing metadata
- accession: 0001133311-22-000038
- form_type: 8-K
- ticker: TZOO
- cik: 0001133311
- company_name: TRAVELZOO
- filed_at: 2022-11-25T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1133311/000113331122000038/0001133311-22-000038-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1133311/000113331122000038/tzoo-20221125.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001133311-22-000038
- JSON: https://secwatch.observer/filing/0001133311-22-000038.json
- Plain text: https://secwatch.observer/filing/0001133311-22-000038.txt

## Key facts
- Material Agreements
  TRAVELZOO entered into Stock Purchase Agreement with Azzurro Capital Inc. valued at $10,000,000 (effective 2022-11-25).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: Azzurro Capital Inc.
  - Value: $10,000,000
  - Effective: 2022-11-25
  source text: On November 25, 2022, Travelzoo, a Delaware corporation (the “Company”), as Seller, entered into a Stock Purchase Agreement (together with its exhibits and schedules, the “SPA”) with Azzurro Capital Inc., a company organized under the laws of the Cayman Islands (the “Investor”), as Purchaser.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1133311/000113331122000038/0001133311-22-000038-index.htm

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