Tier Technologies to Repurchase up to $10M in Common Stock

Tier Technologies, Inc. (Nasdaq: TIER) announced today that it has commenced a tender offer to purchase up to $10,000,000 in value of its common stock at a price within (and including) the range of $5.80 per share to $6.20 per share. At a price of $5.80 per share, Tier could purchase up to 1,724,137 shares of its common stock, representing approximately 9.5% of the shares outstanding, in the tender offer.