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FILED PURSUANT TO RULE 424(b)(3)
REGISTRATION NO. 333-23355
SUPPLEMENT NO. 12 DATED OCTOBER 29, 1998
TO PROSPECTUS DATED JUNE 13, 1997
RELATING TO $98,000,000 PRINCIPAL AMOUNT
6% CONVERTIBLE SUBORDINATED NOTES DUE 2003 AND
4,286,964 SHARES OF COMMON STOCK, $0.01 PAR VALUE PER SHARE, OF
OFFSHORE LOGISTICS, INC.
All capitalized terms used but not defined herein shall have the meanings
prescribed in the Prospectus dated June 13, 1997, forming a part of the
Registration Statement on Form S-3, File No. 333-23355. Any cross references in
this Supplement refer to portions of the Prospectus.
The purpose of this supplement is to provide additional information
regarding the Selling Securityholders. In addition to the Selling
Securityholders named in the Prospectus or any previously filed Supplement
thereto, the following table sets forth the name of an additional Selling
Securityholder and relationship, if any, with the Company and (i) the amount of
Notes owned by such additional Selling Securityholder as of October 29, 1998
(subject to the qualification set forth below), (ii) the maximum amount of Notes
which may be offered for the account of such Selling Securityholder as of
October 29, 1998, and (iii) the maximum amount of Common Stock which may be
offered for the account of such Selling Securityholder under the Prospectus.
<TABLE>
<CAPTION>
PRINCIPAL
PRINCIPAL AMOUNT OF COMMON STOCK COMMON STOCK
NAME OF SELLING AMOUNT OF NOTES OFFERED OWNED PRIOR TO OFFERED
SECURITYHOLDER NOTES OWNED HEREBY OFFERING (1) HEREBY (2)
<S> <C> <C> <C> <C>
Credit Suisse First Boston Corporation $1,000,000 $1,000,000 43,744 43,744
</TABLE>
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(1) Comprises the 43,744 shares of Common Stock into which the Notes held by
such Selling Securityholder are convertible at the initial conversion rate.
The Conversion Price and the number of shares of Common Stock issuable upon
conversion of the Notes are subject to adjustment under certain
circumstances. See "Description of Notes - Conversion Rights." Accordingly,
the number of shares of Common Stock issuable upon conversion of the Notes
may increase or decrease from time to time.
(2) Assumes conversion into Common Stock of the full amount of Notes held by
such Selling Securityholder at the initial conversion price and the
offering of such shares by such Selling Securityholder pursuant to the
Registration Statement of which the Prospectus forms a part. The
Conversion Price and the number of shares of Common Stock issuable upon
conversion of the Notes are subject to adjustment under certain
circumstances. See "Description of Notes - Conversion Rights." Accordingly,
the number of shares of Common Stock issuable upon conversion of the Notes
may increase or decrease from time to time. Fractional shares will not be
issued upon conversion of the Notes; rather, cash will be paid in lieu of
fractional shares, if any.
Because the Selling Securityholder may, pursuant to this Prospectus, offer
all or some portion of the Notes it presently holds, no estimate can be given as
to the amount of the Notes that will be held by such Selling Securityholder
upon termination of any such sales. In addition, such Selling Securityholder
identified above may have sold, transferred or otherwise disposed of all or a
portion of its Notes since the date on which it provided the information
regarding its Notes, in transactions exempt from the registration requirements
of the Securities Act. See "Plan of Distribution."
The Company may from time to time, in accordance with the Registration
Rights Agreement, include additional Selling Securityholders in future
supplements to the Prospectus.
