S1 Corp. announces second Dutch auction to purchase 15% of its outstanding stock

By Lisa Kerner

Charlotte, N.C., March 12 - S1 Corp. plans a modified Dutch auction tender offer to purchase roughly 15% of its outstanding common stock at a per-share range of $5.25 to $5.75, or about $55 million.

The company expects to begin the tender offer "as promptly as possible," according to a company news release.

In S1's first modified Dutch auction tender offer, which ended on Dec. 14, the company accepted 10,476,190 shares of its common stock for purchase at a price per share of $5.25, including all properly tendered odd lots, or about 14.7% of S1's outstanding shares.

S1 is a customer interaction software company based in Atlanta.

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