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Prospectus Supplement to
Prospectus Dated July 12, 1999
Registration No. 333-77337
Filed Pursuant to Rule 424(b)(3)
ILLINOIS SUPERCONDUCTOR CORPORATION
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 THIS SUPPLEMENT AND
THE PROSPECTUS OR DETERMINED IF THIS SUPPLEMENT OR THE PROSPECTUS IS TRUTHFUL OR
COMPLETE. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.
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THE DATE OF THIS SUPPLEMENT IS MARCH 28, 2000.
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
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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
agreement the Company entered into and closed with Elliot 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.
4. On March 16, 2000, the Company filed with the Securities and
Exchange Commission a Current Report on Form 8-K, reporting earnings for the
quarter and year ended December 31, 1999.
A copy of the Company's Current Report on Form 8-K filed on March 16,
2000 is being provided to you along with this Supplement.
5. On March 28, 2000, the Company filed with the Securities and
Exchange Commission a Current Report on Form 8-K, reporting on an additional
$4.0 million investment in the Company by the Investors.
A copy of the Company's Current Report on Form 8-K filed on March 28,
2000 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."
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