An unknown acquired CBC Settlement Funding, LLC from Asta Funding, Inc. for $10.5 million.

An unknown buyer entered into a securities purchase agreement to acquire CBC Settlement Funding, LLC from Asta Funding, Inc. (NasdaqGS:ASFI) for $10.5 million on December 13, 2017. Of the aggregate purchase price, $4.4910556 million was paid in cash, and $5.75 million is to be paid under a promissory note at an annual interest rate of 7% to be paid quarterly to Asta. The remaining amount of the aggregate purchase price, $0.25 million, was paid as reimbursement of certain invoices of CBC. Peter Halasz of Schulte Roth & Zabel LLP acted as legal advisor to the buyer. Eddie Stone of Edward Stone Law, P.C. acted as legal advisor to Asta. An unknown buyer completed the acquisition of CBC Settlement Funding, LLC from Asta Funding, Inc. (NasdaqGS:ASFI) on December 13, 2017.