Asta Funding Inc. (NasdaqGS:ASFI) announces a share repurchase program. Under the offer, the company will repurchase up to 5,314,009 shares, at a price not greater than $10.35 per share, for a total cost of $55 million in cash. If more than 5,314,009 shares will be tendered, the company will accept shares from tendering shareholders on a pro-rata basis, as required by applicable law. The company is making the tender offer as part of a settlement agreement with The Mangrove Partners Master Fund Ltd. and its affiliates. Mangrove Partners will participate and will tender all its shares in the offer. The company has obtained all governmental, regulatory or NASDAQ consents and approvals necessary in order to consummate and effect the offer. The offer is not conditioned upon obtaining financing or any minimum number of shares being tendered, it is, however subject to a number of other terms and conditions. The offer will expire no later than February 28, 2017. On January 19, 2017, the company announced that the shares acquired in the offer will be retired. The offer will be funded from cash and cash equivalents on hand and through the sale of available for sale securities. The company believes an increase in book value and earnings per share will likely have a positive impact of the market price of the company’s common stock. However, the reduction in company’s public float is likely to reduce the number of beneficial shareholders and may decrease the liquidity in the market for shares, as fewer shares will be available to trade. The offer will run till February 15, 2017.