Asta Funding Announces Privately Negotiated Share Repurchase, 1M Shares for $9.40 per Share
Asta Funding (Nasdaq: ASFI), (the "Company"), a financial services, receivable asset management company announced today that it has agreed to repurchase from Peters MacGregor Capital Management Pty. Ltd 1,000,000 shares of its common stock for US$9,400,000, or $9.40 per share for a total purchase price of $9,400,000. The Company paid for the stock redemption using available cash on hand. Prior to the repurchase, Peters MacGregor owned 1,876,753 shares of the Company's common stock, or approximately 12.8% of the Company. After the repurchase, Peters MacGregor owns 876,753 shares of the Company's common stock, or approximately 6% of the Company. The Company's Board of Directors authorized the privately negotiated transaction, which is in addition to the Company's 10b5-1 mandatory stock repurchase plan.
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