<PAGE> 1
FILED PURSUANT TO RULE 424(B)(3)
REGISTRATION STATEMENT NO. 333-8851
PROSPECTUS SUPPLEMENT NUMBER FOUR
(TO PROSPECTUS DATED NOVEMBER 5, 1996, AS SUPPLEMENTED BY
PROSPECTUS SUPPLEMENT NUMBER ONE DATED APRIL 4, 1997,
PROSPECTUS SUPPLEMENT NUMBER TWO DATED JUNE 12, 1997, AND
PROSPECTUS SUPPLEMENT NUMBER THREE DATED JUNE 17, 1997)
U.S.$86,250,000
NORTH AMERICAN VACCINE, INC.
6.50% CONVERTIBLE SUBORDINATED NOTES DUE MAY 1, 2003
This Prospectus Supplement supplements information contained in that
certain Prospectus dated November 5, 1996, as amended or supplemented (the
"Prospectus"), relating to the potential sale from time to time of up to
$86,250,000 aggregate amount of Notes and the Common Shares issuable upon
conversion thereof by the Selling Holders. This Prospectus Supplement is not
complete without, and may not be delivered or utilized except in connection
with, the Prospectus, including any amendments or supplements thereto.
Capitalized terms used but not defined herein have the meanings assigned to such
terms in the Prospectus.
The following table supplements the information set forth in the Prospectus
under the caption "Selling Holders" with respect to the Selling Holders and the
respective principal amounts of Offered Securities beneficially owned by such
Selling Holder that may be offered pursuant to the Prospectus:
<TABLE>
<S> <C> <C> <C> <C>
MFS Total Return Fund.......................... 500,000 500,000 20,114 20,114
MFS Convertible Securities Fund................ 2,000 2,000 80 80
</TABLE>
The line items "Goldman, Sachs & Co. . . . 553,000, 553,000, 22,246,
22,246," "General Motors Employees Domestic Group Trust . . . 9,900,000,
9,900,000, 358,034, 358,034," and "J.W. McConnell Family Trust . . . 500,000,
500,000, 20,114, 20,114" contained in the table set forth in the Prospectus
under the caption "Selling Holders" shall be deleted in their entirety and
replaced with the following:
<TABLE>
<S> <C> <C> <C> <C>
Goldman, Sachs & Co. .................. 5,090,000 5,090,000 309,701 204,767
General Motors Employees Domestic Group
Trust................................ 10,900,000 10,900,000 438,499 438,499
The J.W. McConnell Family Foundation... 600,000 600,000 24,137 24,137
</TABLE>
All information provided in this Prospectus Supplement is as of a recent
practicable date.
THE DATE OF THIS PROSPECTUS SUPPLEMENT IS AUGUST 22, 1997.
