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Filed Pursuant to
Rules 424(b)(3)
Registration Statement
No. 33-13953
SUPPLEMENT TO AGRIBIOTECH, INC.
PROSPECTUS DATED OCTOBER 18, 1996
On January 3, 1997, the Board of Directors of AgriBioTech, Inc. (the
"Company") reduced the exercise price of its redeemable Class B Common Stock
Purchase Warrants ("Class B Warrants") from $5.00 to $1.81 for one share of
Common Stock and one redeemable Class C Common Stock Purchase Warrant ("Class
C Warrants"). The reduction in exercise price is effective immediately through
5:00 p.m. (Denver time) on January 17, 1997 when the Warrants expire (the
"Expiration Date").
As set forth in the Company's Prospectus dated October 18, 1996, the
Company has reserved the right to permit persons designated by it ("standby
purchasers") to exercise any Class B Warrants not exercised by the Expiration
Date through the close of business on January 31, 1997. To the extent that the
Company does so, the Class B Warrants encompassed in any such designation shall
be deemed extended for such two-week period, and the holders thereof may
exercise such Warrants. These Warrants may be exercised for cash, promissory
notes, shares of the Company's Common Stock, or services rendered to the
Company. If a Class B Warrantholder does not exercise his Class B Warrants, he
will not be issued Class C Warrants, which will be issued to any standby
purchasers who exercise such Class B Warrants. The Class C Warrants, pursuant to
the terms of their original issuance, will remain exercisable until January 17,
1998, to purchase one share of Common Stock at $7.50 per share, subject to
adjustment and/or redemption.
The Board also authorized members of Management and their affiliates to
tender with nominal, if any, consideration Class B Warrants currently held by
them to standby purchasers, including NASD member broker-dealers.
Dated: January 9, 1997
