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ILLINOIS SUPERCONDUCTOR
SUPPLEMENT
TO
PROSPECTUS DATED JULY 12, 1999
This is a Supplement to Illinois Superconductor Corporation's Prospectus,
dated July 12, 1999 (the "Prospectus"), with respect to the offer and sale of
18,340,183 shares of Common Stock, including preferred stock purchase rights,
of Illinois Superconductor Corporation. This Supplement amends and supplements
certain information contained in the Prospectus. We encourage you to read this
Supplement carefully.
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NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE SECURITIES
COMMISSIONER HAS APPROVED OR DISAPPROVED OF THE SHARES OF ILLINOIS
SUPERCONDUCTOR CORPORATION COMMON STOCK TO BE ISSUED UNDER THE PROSPECTUS, AS
SUPPLEMENTED BY THIS SUPPLEMENT, OR DETERMINED IF THE PROSPECTUS, AS
SUPPLEMENTED BY THIS SUPPLEMENT, IS TRUTHFUL OR COMPLETE. ANY REPRESENTATION TO
THE CONTRARY IS A CRIMINAL OFFENSE.
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THE DATE OF THIS SUPPLEMENT IS DECEMBER 30, 1999.
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QUARTERLY REPORTS ON FORM 10-Q
1. Illinois Superconductor Corporation (the "Company") has filed with the
Securities and Exchange Commission a Quarterly Report on Form 10-Q for the
quarterly period ended June 30, 1999. The Company hereby incorporates by
reference into this Supplement and the Prospectus this Quarterly Report on Form
10-Q for the quarterly period ended June 30, 1999.
A copy of the Company's Quarterly Report on Form 10-Q for the quarterly
period ended June 30, 1999 is being provided to you along with this Supplement.
2. The Company has filed with the Securities and Exchange Commission a
Quarterly Report on Form 10-Q for the quarterly period ended September 30,
1999. The Company hereby incorporates by reference into this Supplement and the
Prospectus this Quarterly Report on Form 10-Q for the quarterly period ended
September 30, 1999.
A copy of the Company's Quarterly Report on Form 10-Q for the quarterly
period ended September 30, 1999 is being provided to you along with this
Supplement.
CURRENT REPORTS ON FORM 8-K
1. On November 15, 1999, the Company filed with the Securities and
Exchange Commission a Current Report on Form 8-K, reporting on a letter
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agreement the Company entered into and closed with Elliott Associates, L.P.,
Westgate International, L.P. and Alexander Finance, L.P. (the "Investors), the
effect of which letter agreement was an aggregate $1.0 million investment in
the Company, and a possible acquisition of control of the Company, by the
Investors.
A copy of the Company's Current Report on Form 8-K filed on November 15,
1999 is being provided to you along with this Supplement.
2. On November 30, 1999, the Company filed with the Securities and
Exchange Commission a Current Report on Form 8-K, reporting on changes in its
senior management effective on November 24, 1999.
A copy of the Company's Current Report on Form 8-K filed on November 30,
1999 is being provided to you along with this Supplement.
3. On December 30, 1999, the Company filed with the Securities and
Exchange Commission a Current Report on Form 8-K, reporting on an additional
$1.0 million investment in the Company by the Investors.
A copy of the Company's Current Report on Form 8-K filed on December 30,
1999 is being provided to you along with this Supplement.
Information about documents that have been incorporated by reference into
the Prospectus is included in the section of the Prospectus captioned "Where
You Can Find More Information."
