form8k.htm

 
 
 

 
 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549

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): September 26, 2007


TIER TECHNOLOGIES, INC.
(Exact name of registrant as specified in its charter)


Delaware
(State or other jurisdiction of
incorporation)
 
000-23195
(Commission
File Number)
94-3145844
(IRS Employer Identification No.)
10780 Parkridge Blvd., 4th Floor
Reston, Virginia
(Address of principal executive offices)
  
20191
(Zip Code)
 
(571) 382-1000
(Registrant's telephone number, including area code)
  


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the obligation of the registrant under any of the following provisions:

o  
Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o  
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CRF 240.14a-12)
o  
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o  
Pre-commencement communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 
 


Item 1.01 Entry into a Material Definitive Agreement.

On September 26, 2007, Tier Technologies, Inc. ("Tier") and its wholly owned subsidiaries, Official Payments Corporation and EPOS Corporation, entered into a Second Amendment to Amended and Restated Credit and Security Agreement with City National Bank (the “Amendment”), which amended the March 6, 2006 Amended and Restated Credit and Security Agreement with City National Bank, (the “Agreement”).  Among other things, the Amendment, extended the termination date of the Agreement until September 30, 2008 and reduced Tier’s line of credit under the Agreement from $10.0 million to $7.5 million.

The foregoing description of the Amendment is not complete and is qualified in its entirety by reference to the Amendment, which is filed as Exhibit 99.1 hereto and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

See the Exhibit Index attached to this Report, which is incorporated herein by reference.



SIGNATURE

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.



 
 
  TIER TECHNOLOGIES, INC.
 
By:
/s/ David E. Fountain
 
Name:
David E. Fountain
 
Title:
Chief Financial Officer
Date: September 27, 2007
    


 
Exhibit Index
Exhibit
No                 Description
99.1
Second Amendment to Amended and Restated Credit and Security Agreement between Tier Technologies, Inc., Official Payments Corporation, EPOS Corporation and City National Bank dated September 26, 2007.