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TIER REIT Announces Listing of its Shares of

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Enterprising Investor Member Level  Thursday, 07/23/15 03:45:49 PM
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TIER REIT Announces Listing of its Shares of Common Stock on the New York Stock Exchange under the Ticker Symbol “TIER” and Ringing The NYSE Opening Bell® (7/23/15)

DALLAS--(BUSINESS WIRE)--TIER REIT, Inc. (NYSE: TIER) announced that it is authorized to list its shares of common stock on the New York Stock Exchange (NYSE). Trading of TIER REIT’s shares of common stock will commence today under the ticker symbol "TIER." In connection with the listing of its shares of common stock, members of TIER REIT’s management team will ring The NYSE Opening Bell® at 9:30 a.m. EDT today to celebrate the first day of trading in TIER REIT’s shares of common stock on the NYSE.

“This is a major milestone for our company. We would like to thank the many team members and stockholders that have supported us in reaching this goal,” noted Scott Fordham, Chief Executive Officer and President of TIER REIT. “As a publicly listed company, we are better positioned to execute on our growth strategy, and we look forward to utilizing this platform to deliver greater total return potential to our stockholders.”

In conjunction with the listing on the NYSE, TIER REIT has also commenced a modified “Dutch Auction” tender offer to purchase up to $50 million of its shares of common stock. In accordance with, and subject to, the terms of the tender offer, TIER REIT will select the lowest price, not greater than $21.00 nor less than $19.00 per share, net to the seller in cash, less any applicable withholding taxes and without interest, that will enable TIER REIT to purchase the maximum number of shares of common stock having an aggregate purchase price not exceeding $50 million (or such lesser number if less than $50 million of shares of common stock are tendered after giving effect to the any shares of common stock withdrawn). TIER REIT expects to fund the tender offer with available cash and/or borrowings available under its existing credit facility.

The tender offer will expire at 11:59 p.m. EDT on August 19, 2015, unless the tender offer is extended or withdrawn. Stockholders may tender all or a portion of their shares of common stock (and may choose not to tender any of their shares of common stock) by following the procedures, including choosing the price or prices at which they wish to tender their shares of common stock, described in the Offer to Purchase, Letter of Transmittal, and other documents related to the tender offer.

In connection with the listing and tender offer, TIER REIT engaged J.P. Morgan Securities LLC as its lead capital markets advisor, Wells Fargo Securities, LLC as a capital markets advisor, Green Street Advisors, Advisory and Consulting Group as a strategic advisor, and Goodwin Procter LLP as its legal counsel.

About TIER REIT, Inc.

TIER REIT, Inc. is a self-managed, Dallas, Texas-based real estate investment trust focused on maximizing total return to stockholders through the combination of stock appreciation and income derived from a sustainable distribution. TIER REIT’s investment strategy is to acquire, develop, and operate a portfolio of best-in-class office properties in select U.S. markets that consistently lead the nation in population and office-using employment growth. For more information on TIER REIT, please visit tierreit.com or call 972.483.2400.

http://www.businesswire.com/news/home/20150723005310/en/TIER-REIT-Announces-Listing-Shares-Common-Stock#.VbFEMbTbKUk

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