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Filed Pursuant to Rule 424(b)(3)
REGISTRATION NO. 33-78440
PROSPECTUS SUPPLEMENT NO. 1 DATED JULY 7, 1997 TO THE
PROSPECTUS DATED MAY 23, 1996 OF
IBIS TECHNOLOGY CORPORATION
This Prospectus Supplement No. 1 amends the number of shares of Common
Stock of Ibis Technology Corporation (the "Company") being offered for sale (and
reflected throughout the Prospectus) upon the exercise of certain warrants, and
the exercise price thereof, due to the occurrence of certain anti-dilutive
events. The Company is offering for sale 1,695,843 shares of Common Stock (which
is an increase of 6,792 shares over the 1,689,051 shares referenced in the
Prospectus) (i) upon exercise of the Redeemable Warrants at an exercise price of
$8.05 per share, to purchase 1,440,000 shares of Common Stock, subject to
adjustment upon the occurrence of certain anti-dilutive events, (ii) upon
exercise of the IPO Underwriter's Warrants at an exercise price of $8.05 per
share, to purchase 125,217 shares of Common Stock, subject to adjustment upon
the occurrence of certain anti-dilutive events, and (iii) upon exercise of the
IPO Underwriter's Redeemable Warrants at an exercise price of $9.26 per share,
to purchase 130,626 shares of Common Stock, subject to adjustment upon the
occurrence of certain anti-dilutive events.
This Prospectus Supplement No. 1 should be read in conjunction with the
Prospectus dated May 23, 1996.
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