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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
Raymond James & Associates, Inc. ("Raymond James") of up to $300,000 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 Raymond James is
$300,000, all of which may be sold at this time pursuant to the Prospectus as
supplemented hereby. Raymond James was an initial purchaser of the Notes in the
Debt Offering and also was the managing underwriter in the Company's October
1994 public offering of 4,200,000 shares of Common Stock. In connection with
both such offerings, Raymond James received customary compensation for its
services. Additional information concerning the Selling Securityholders
(including Raymond James) 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 February 25, 1997 was $10.75 per share.
The Notes will be subordinated to all existing and future Senior
Indebtedness of the Company. At December 31, 1996, Senior Indebtedness was
approximately $2,400,000. 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 February 26, 1997.
