Travelzoo, a publisher of hotel and package deals, said in a financial filing on Tuesday that it would ask its shareholders to approve a $10 million cash investment that would allow its founder to increase his ownership and help the company finance the business. exploration of metaverse experiences that began this year.

The subsidiary suffered losses of $63 million this year, the filing said, roughly equal to parent company Travelzoo’s current market capitalization.

At a special meeting on December 28, the company will ask shareholders to vote to allow hedge fund Azzuro Capital, controlled by Travelzoo founder Ralph Bartel, to buy Travelzoo shares for $10 million. The transaction would effectively leave Bartel with a 50.1 percent stake in Travelzoo…