Filing Pursuant to Rule 424(b)(2)
Registration Statement No. 333-86251
PROSPECTUS SUPPLEMENT
(to Prospectus dated October 4, 1999)
400,000 Shares
WaveRider Communications Inc.
Common Stock
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You should read this prospectus supplement and the accompanying prospectus
carefully before you invest. Both documents contain information you should
consider when making your investment decision.
See "Risk Factors" beginning on page 3 of the prospectus to read about
factors you should consider before buying shares of the common stock.
Plan of Distribution
We are offering 400,000 shares of our commons stock to Radyr Group
Investments, an institutional investor, who is the underwriter pursuant to this
prospectus supplement. The common stock will be purchased at a negotiated
purchase price of $540,000. In addition, we will pay $32,400 in commissions and
$1,000 in legal fees on the sale of our common stock. We will not pay any other
compensation in conjunction with this sale of our common stock. We have agreed
to indemnify Radyr Group Investments against liabilities, including liabilities
under the Securities Act of 1933.
Use of Proceeds
The net proceeds to us from this offering will be $506,600. We plan to use
the net proceeds for general corporate purposes, including:
- - Repaying our obligations as they become due;
- - Financing capital expenditures; and,
- - Working Capital.
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Market for Our Common Stock
On December 3, 1999, the last reported sales price of our common shares on
the OTC Bulletin Board was $1.8725 per share. Our common stock is listed on the
OTC Bulletin Board under the symbol "WAVC".
As of December 3, 1999 and before the issuance of shares pursuant to this
prospectus supplement, we have 50,400,510shares of common stock outstanding.
Legal Matters
Certain legal matters with respect to the common stock offered hereby
will be passed upon for us by Foley, Hoag & Eliot, LLP of Boston, Massachusetts.
General
You should rely only on the information provided or incorporated by
reference in this prospectus supplement and the prospectus. We have not
authorized anyone else to provide you with different information. You should not
assume that the information in this prospectus supplement is accurate as of any
date other than the date on the front of these documents.
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The Securities and Exchange Commission and state securities regulators have
not approved or disapproved these securities, or determined if this prospectus
is truthful or complete. Any representation to the contrary is a criminal
offense.
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The date of this prospectus supplement is December 6, 1999
