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PROSPECTUS SUPPLEMENT Filed pursuant to Rule 424(b)(3)
To Prospectus Dated May 3, 1996, Registration No. 333-2253
As Supplemented to Date
$80,500,000
NABI
6 1/2% Convertible Subordinated Notes due 2003
and
Shares of Common Stock, Par Value $.10 Per Share,
Issuable Upon Conversion Thereof
This Prospectus Supplement (the "Supplement") relates to the resale by
Shepherd Trading Limited ("Shepherd") of up to $250,000 aggregate principal
amount of 6 1/2% Convertible Subordinated Notes due 2003 (the "Notes") of NABI,
a Delaware corporation (the "Company"), originally issued in private placements
consummated on February 7 and March 6, 1996 (the "Debt Offering"), pursuant to
NABI's Registration Statement on Form S-3 (No. 333-2253) (the "Registration
Statement"). This Supplement should be read in conjunction with the Prospectus
dated May 3, 1996, 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 Notes that are currently beneficially owned by Shepherd is
$250,000, all of which may be sold at this time pursuant to the Prospectus as
supplemented hereby. Additional information concerning the Selling
Securityholders (including Forum) may be set forth from time to time in
additional supplements to the Prospectus. The total outstanding aggregate
principal amount of the Notes is $80,500,000.
The closing price of the Company's Common Stock as reported on the
Nasdaq National Market on July 31, 1997 was $5.50 per share.
The Notes will be subordinated to all existing and future Senior
Indebtedness of the Company. At April 25, 1997, Senior Indebtedness was
approximately $6,800,000. The Indenture contains no limitations on the
incurrence of additional indebtedness or other liabilities by the Company.
The Notes are neither listed on a national securities exchange nor
quoted on an automated quotation system. However, the Notes are eligible for
trading in the Private Offerings, Resales and Trading through Automated Linkages
("PORTAL") Market. Notes sold pursuant to the Registration Statement will no
longer be eligible for trading in the PORTAL Market.
The date of this Prospectus Supplement is August 1, 1997.
