SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): August 31, 2001
ASTA FUNDING, INC.
(Exact name of registrant as specified in its charter)
Delaware
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(State or other jurisdiction of incorporation)
0-26906 22-3388607
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(Commission File Number) (IRS Employer Identification No.)
210 Sylvan Avenue, Englewood Cliffs, NJ 07632
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: 201-567-5648
Not Applicable
(Former name or former address, if changed since last report)
Item 5. Acquisition or Disposition of Assets
On August 31, 2001, Computer Finance, LLC, a Delaware limited liability
company owned by Asta Funding, Inc. (the "Registrant"), purchased a $191 million
loan portfolio of consumer receivables (the "Receivables") held by a subsidiary
of a major computer manufacturer/retailer for a purchase price of approximately
$33.2 million. The Receivables are performing, semi-performing and charged-off
in nature. This purchase was financed with a $30 million loan from a financial
institution at an interest rate of LIBOR plus two percent. The financial
institution also has a fifty-percent profit participation in the net income if
any generated from the collection on these Receivables. The balance of the $33.2
million purchase price was paid from the Company's cash on hand.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
Exhibits
10.5 Account Purchase Agreement, dated as of August 15, 2001, by and between
Computer Finance, LLC, Asta Funding, Inc. and the seller.
10.6 Amended and Restated Sale, Assumption and Assignment Agreement, dated as
of August 28, 2001, by and between Computer Finance, LLC, Asta Funding,
Inc. and the seller.
10.7 Loan and Security Agreement, dated as of August 30, 2001, by and between
Computer Finance, LLC, Asta Funding, Inc. and Greenwich Capital Financial
Products, Inc.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
ASTA FUNDING, INC.
/s/ Gary Stern
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Gary Stern, President
Dated: September 17, 2001