PROSPECTUS SUPPLEMENT Filed pursuant to Rule 424(b)(3)
To Prospectus Dated May 14, 1997, Registration No. 333-08269
As Supplemented to Date
$100,000,000
PHYMATRIX CORP.
6-3/4% Convertible Subordinated Debentures due 2003
and
Shares of Common Stock, Par Value $.01 Per Share,
Issuable Upon Conversion Thereof
This Prospectus Supplement (the "Supplement") relates to the resale by
Delaware State Employees' Retirement Fund ("Delaware") of up to $415,000
aggregate principal amount of 6-3/4% Convertible Subordinated Debentures due
2003 (the "Debentures") of PhyMatrix Corp., a Delaware corporation (the
"Company"), originally issued in private placements consummated on June 26, 1996
(the "Debt Offering"), pursuant to PhyMatrix Corp.'s Registration Statement on
Form S-3 (No. 333-08269) (the "Registration Statement"). This Supplement should
be read in conjunction with the Prospectus dated May 14, 1997, as supplemented
to date (the "Prospectus"), to be delivered with this Supplement. All
capitalized terms used but not defined in this Supplement shall have the
meanings given them in the Prospectus.
Based on information provided to the Company, the aggregate principal
amount of the Debentures that are currently beneficially owned by Delaware is
$415,000, of which $415,000 may be sold at this time pursuant to the Prospectus
as supplemented hereby. Additional information concerning the Selling
Securityholders (including Delaware) may be set forth from time to time in
additional supplements to the Prospectus. The total outstanding aggregate
principal amount of the Debentures is $100,000,000.
The closing price of the Company's Common Stock as reported on The Nasdaq
National Market on April 10, 1998 was $10.125 per share.
The Debentures will be subordinated to all existing and future Senior
Indebtedness of the Company. At January 31, 1998, Senior Indebtedness was
approximately $30.3 million. The Indenture contains no limitations on the
incurrence of additional indebtedness or other liabilities by the Company.
The Debentures are neither listed on a national securities exchange nor
quoted on an automated quotation system. However, the Debentures are eligible
for trading in the Private Offerings, Resales and Trading through Automated
Linkages ("PORTAL") Market. Debentures sold pursuant to the Registration
Statement will no longer be eligible for trading in the PORTAL Market.
The date of this Prospectus Supplement is April 13, 1998
