Travelzoo Announces Share Repurchase Program

Rhea-AI Summary

Travelzoo® (TZOO) has initiated a share repurchase program, allowing the buyback of up to 1,000,000 shares of its common stock. The repurchases will be funded through available cash and conducted based on various factors, such as cash balances, market conditions, and alternative investment opportunities.

Positive

• Travelzoo® (TZOO) demonstrates confidence in its stock value by authorizing a share repurchase program, indicating a belief in the company's financial stability and future prospects.

Negative

• None.

NEW YORK, April 30, 2024 /PRNewswire/ -- Travelzoo^® (NASDAQ: TZOO), the club for travel enthusiasts, today announced that its board of directors has authorized the repurchase of up to 1,000,000 shares of the Company's outstanding common stock.

Purchases may be made, from time to time, in the open market and will be funded from available cash. The number of shares to be purchased and the timing of purchases will be based on the level of Travelzoo's cash balances, general business and market conditions, and other factors, including alternative investment opportunities.

About Travelzoo
We, Travelzoo®, are the club for travel enthusiasts. Our 30 million members receive exclusive offers and one-of-a-kind experiences personally reviewed by our deal experts around the globe. We have our finger on the pulse of outstanding travel, entertainment, and lifestyle experiences. We work in partnership with more than 5,000 top travel suppliers—our long-standing relationships give Travelzoo members access to irresistible deals.

Investor Relations:
ir@travelzoo.com 

 

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SOURCE Travelzoo

FAQ

What did Travelzoo® (TZOO) announce?

Travelzoo® (TZOO) announced a share repurchase program.

How many shares are authorized for repurchase?

Up to 1,000,000 shares of Travelzoo® (TZOO)'s common stock.

How will the repurchases be funded?

The repurchases will be funded from available cash.

What factors will determine the timing of purchases?

Factors such as Travelzoo® (TZOO)'s cash balances, market conditions, and alternative investment opportunities will influence the timing of purchases.