On April 9, 2020, Asta Funding, Inc. announced that it has entered into an Agreement and Plan of Merger with Asta Finance Acquisition Inc., pursuant to which Asta Finance Acquisition Inc. shall merge with and into the Company and its consolidated subsidiaries, with the Company surviving the Merger as a wholly-owned subsidiary of Asta Finance Acquisition Inc. The Company also stated that in connection with entering into the Merger Agreement, Gary Stern has entered into a rollover commitment letter in favor of Asta Finance Acquisition Inc. and has committed to transfer, contribute and deliver shares of Common Stock to the parent in exchange for common stock of the Parent.