RBF Capital LLC made a proposal to acquire remaining 91.1% stake in Asta Funding, Inc. (NasdaqGS:ASFI) for $77.8 million on May 20, 2020. RBF Capital will acquire the stake for $13 per share in cash. Presently, RBF Capital holds 8.8% stake in Asta Funding. Post the transaction, RBF Capital will hold 100% stake in Asta Funding. The transaction will be financed with internal cash. The transaction will be subject to satisfactory completion of due diligence, definitive transaction documents containing provisions customary for transactions of this type and size and receipt of regulatory approvals, as required. On June 25, 2020, RBF Capital LLC entered into a voting and support agreement for the transaction by Gary M. Stern, Chairman, President and Chief Executive Officer of Asta Funding. Tannenbaum Helpern Syracuse & Hirschtritt LLP acted as legal advisor and Lincoln International LLC acted as financial advisor and fairness opinion provider to Asta Funding.