PROSPECTUS SUPPLEMENT FILED PURSUANT TO RULE 424(B)(3)
(To Prospectus Dated August 10, 1999) Registration No. 333-83703
APPLIED MAGNETICS CORPORATION
RIGHTS OFFERING OF 45,736,741 SHARES OF COMMON STOCK
AT $1.00 PER SHARE
This prospectus supplement should be read in conjunction with the
prospectus dated August 10, 1999, which is to be delivered with this prospectus
supplement. All capitalized terms used but not defined in this prospectus
supplement shall have the meanings given them in the prospectus.
Effective as of the date of this supplement, the prospectus information is
amended as follows:
1. The paragraph under "PROSPECTUS SUMMARY -- Oversubscription
Privilege" (page 4) is amended to read as follows:
If you were a holder of our common stock on the record date of
August 12, 1999 and you fully exercise the basic subscription
privilege, you may also purchase at $0.85 per share, a 15%
discount to the basic subscription privilege, additional
shares of common stock that are not purchased by other
stockholders. Holders of the rights who were not record
holders on the record date of August 12, 1999 may purchase at
$1.00 per share additional shares of common stock that are not
purchased by other stockholders. If there are not enough
shares available to fill all subscriptions for additional
shares, the available shares will be allocated pro rata based
on the number of shares each subscriber for additional shares
has purchased under the basic subscription privilege.
2. The second sentence in the paragraph under "THE RIGHTS OFFERING --
Basic and Oversubscription Privilege - Subscription Price" (page 16)
is amended to read as follows:
The oversubscription price is $0.85 per share, a 15% discount
to the basic subscription price, for holders of our common
stock on the record date and $1.00 per share for holders of
the rights who were not record holders on the record date.
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The date of this prospectus supplement is August 17, 1999.
