The Board of Directors of Rand Worldwide, Inc. (OTCPK:RWWI) announced its intention to initiate a self-tender offer. Under the offer, the company will repurchase up to 27,530,816 shares, representing 50.5% of its outstanding shares for $33.03 million. The shares will be repurchased at a tender price of $1.20 per share.

If company stockholders tender more than 27,530,816 shares, the company will purchase shares from all stockholders who properly tendered shares, on a pro rata basis based on the aggregate number of shares tendered. If individual stockholders holding fewer than 100 shares tender all of their shares, the company will accept those shares first, without proration. The tender offer will not be conditioned upon any minimum number of shares being tendered, but will be subject to the completion of the new credit facility and other customary conditions.

The company is making the offer for the purpose of maximizing shareholder value and providing its shareholders an opportunity for liquidity in its common stock, which is not heavily traded.