MicroFinancial To Be Acquired By Funds Managed By Fortress Investment Group

(RTTNews) - MicroFinancial Inc. (MFI) said it has entered into a definitive agreement with MF Parent LP and MF Merger Sub Corp., each an affiliate of funds managed by affiliates of Fortress Investment Group LLC (FIG), whereby Parent will acquire all of the outstanding shares of the Company for $10.20 per share in cash pursuant to an Agreement and Plan of Merger dated December 13, 2014.

As per agreement terms, Purchaser will commence a tender offer for all shares of outstanding common stock of the Company for $10.20 per share in cash.

The Company presently intends, subject to approval of the Company's Board of Directors at the time, to declare a single quarterly cash dividend on its common stock in an amount expected to be $0.08 per share with a record date that is no later than January 12, 2015 and a payment date that is on or prior to the time of acceptance of shares of the Company's common stock in the Tender Offer.

Following the completion of the Tender Offer, the parties will complete a second-step merger in which any remaining shares of the company's common stock will be converted into the right to receive the same price per share paid in the Tender Offer, the company stated.