Asta Funding, Inc. Announces Going Private Transaction
ASTA FUNDING (ASFI)
US:NASDAQ Investor Relations:
astafunding.com/investor-relations.html
Company Research
Source: GlobeNewswire
ENGLEWOOD CLIFFS, N.J., April 08, 2020 (GLOBE NEWSWIRE) -- Asta Funding, Inc. (NASDAQ: ASFI) (“Asta” or the “Company”) today announced that it has entered into a definitive merger agreement (the “Merger Agreement”) under which the Stern Group, comprised of Gary Stern, Ricky Stern and certain related parties, will acquire the outstanding publicly held shares of common stock of Asta through the merger of Asta with a wholly-owned subsidiary of Asta Finance Acquisition Inc. (“Parent”), with Asta surviving as a wholly-owned subsidiary of Parent (the “Merger”). Each share of outstanding common stock will be purchased for $11.47 in cash. The purchase price represents a premium of approximately 36.9% to Asta’s closing stock price on April 7, 2020, the last trading day prior to this announcement. The Merger was unanimously approved by the board of directors of Asta (the “Board”), acting on the unanimous recommendation of a special committee of independent directors (the “Special Committee
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