Prospectus Supplement
(To Prospectus Dated September 11, 1997)
4,025,000 BUCSSM*
TIMET Capital Trust I
6 5/8% Convertible Preferred Securities
Beneficial Unsecured Convertible Securities (BUCS)SM*
(Liquidation Amount $50 per Convertible Preferred Security)
Guaranteed to the Extent Set Forth Herein by, and Convertible into the
Common Stock of,
Titanium Metals Corporation
This Prospectus Supplement No. 1 supplements and amends the Prospectus dated
September 11, 1997 (the "Prospectus") relating to the 4,025,000 6-5/8%
Convertible Preferred Securities, Beneficial Unsecured Convertible Securities
(BUCS) (the "Convertible Preferred Securities"), liquidation preference $50 per
Convertible Preferred Security, which represent undivided beneficial ownership
interests in the assets of TIMET Capital Trust I, a statutory business trust
formed under the laws of the State of Delaware (the "Trust"), and the shares of
the common stock, par value $.01 per share (the "Common Stock"), of Titanium
Metals Corporation, a Delaware corporation ("TIMET" or the "Company"), issuable
upon conversion of the Convertible Preferred Securities.
The table on pages 53 through 55 of the Prospectus, which sets forth information
with respect to the Selling Holders (as defined in the Prospectus) and the
respective number of Convertible Preferred Securities beneficially owned by each
Selling Holder that may be offered pursuant to the Prospectus (as supplemented
and amended), is hereby amended to include the following additional Selling
Holders:
Number of Convertible
Selling Holder Preferred Securities
Argent Classic Convertible Arbitrage Fund (Bermuda) L.P. 100,000
Argent Classic Convertible Arbitrage Fund L.P. 83,800
Bear, Stearns & Co. Inc. 5,000
Boston College Endowment Fund 2,000
Cantor Fitzgerald & Co. 3,500
Commonwealth Life Insurance Company (Teamsters-Camden 29,800
Non-Enhanced)
Deeprock & Co. 25,000
Duckbill & Co. 15,000
Employers' Reinsurance Corporation 8,000
Forest Alternative Strategies Fund 2A5I 11,100
Forest Alternative Strategies Fund 2A5M 5,500
Forest Alternative Strategies Fund A-5 98,700
Forest Global Convertible Fund Series A-5 105,400
Forest Greyhound Fund 2,300
Forest Performance Fund LP 4,000
Forum Capital Markets LLC 36,100
Laterman & Co. 6,000
Laterman Strategies 90s LLC 12,500
Lipper Convertibles, L.P. 50,000
LLT Limited 5,200
Merrill Lynch Pierce Fenner & Smith Inc. 78,900
MFS Convertible Securities Fund 100
MFS Total Return Fund 46,600
Museum of Fine Arts, Boston 2,170
New Hampshire State Retirement System 11,185
Offshore Strategies Ltd. 21,500
Promutual 10,470
Putnam Convertible Opportunities and Income Trust 10,195
Putnam High Yield Total Return Fund 300
Smith Barney Inc. 42,150
TQA Leverage Fund, L.P. 20,700
TQA Vantage Plus Fund, L.P. 10,000
Total: 863,170
PROSPECTIVE INVESTORS SHOULD CAREFULLY CONSIDER MATTERS DISCUSSED UNDER THE
CAPTION "RISK FACTORS" BEGINNING ON PAGE 6 OF THE PROSPECTUS.
THESE SECURITIES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE SECURITIES AND
EXCHANGE COMMISSION OR ANY STATE SECURITIES COMMISSION NOR HAS THE SECURITIES
AND EXCHANGE COMMISSION OR ANY STATE SECURITIES COMMISSION PASSED UPON THE
ACCURACY OR ADEQUACY OF THE PROSPECTUS OR THIS PROSPECTUS SUPPLEMENT. ANY
REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.
The date of this Prospectus Supplement No. 1 is August 13, 1998.
