PROSPECTUS SUPPLEMENT FILED PURSUANT TO RULE 424(B)(3)
TO PROSPECTUS DATED JUNE 13, 1997 REGISTRATION NO. 333-28451
$63,400,000
ITRON, INC.
6-3/4% Convertible Subordinated Notes Due 2004
and
Shares of Common Stock
Issuable Upon Conversion Thereof
and
2,638,600 Shares of Common Stock
This Prospectus Supplement relates to the resale by the holders (the
"Selling Securityholders") of 6 3/4% Convertible Subordinated Notes Due 2004
(the "Notes") of Itron, Inc. (the "Company") and the shares of Common Stock, no
par value (the "Common Stock"), of the Company issuable upon the conversion
thereof (the "Conversion Shares").
This Prospectus Supplement should be read in conjunction with the
Prospectus dated June 13, 1997 (the "Prospectus"), which is to be delivered with
this Prospectus Supplement. All capitalized terms used but not defined in this
Prospectus Supplement shall have the meanings given them in the Prospectus.
The information in the table appearing under the heading "Selling
Securityholders" in the Prospectus is superseded in part by the information
appearing in the table below:
Securities Beneficially
Notes and Conversion Shares Shares Owned After Offering
---------------------------------------------------------------------- -----------------------
Principal
Amount of
Notes Number of Shares Number Securities to Percentage
Beneficially Percentage Conversion Beneficially of Shares be Sold--Percentage of Common
Owned that of Notes Shares that Owned Prior that May of Common Stock Stock
Name May Be Sold Outstanding May Be Sold (1) to Offering Be Sold Outstanding (2) Amount Outstanding
- -----------------------------------------------------------------------------------------------------------------------------------
Credit Suisse
First Boston 13,275,000 20.9 560,127 3.7 0 --
Corp. (3)
Any other
holder of
Notes or
future
transferee,
pledgee, donee
or successor
of or from any
such other
holder.(4)(5) 2,875,000 121,308 0.8 0 --
- -----------------------------------------------------------------------------------------------------------------------------------
(1) Assumes conversion of the full amount of Notes held by such Selling
Securityholder at the initial conversion price of $23.70 per share; such
conversion price is subject to adjustment as described under "Description
of Notes--Conversion." Accordingly, the number of shares of Common Stock
issuable upon conversion of the Notes may increase or decrease from time to
time. Under the terms of the Indenture, fractional shares will not be
issued upon conversion of the Notes; cash will be paid in lieu of
fractional shares, if any.
(2) Computed in accordance with Rule 13d-3(d)(i) promulgated under the Exchange
Act, and based upon 14,600,212 shares of Common Stock outstanding as of
November 30, 1997, treating as outstanding the number of Conversion Shares
issuable upon the assumed conversion by the named Selling Securityholder of
the full amount of such Selling Securityholder's Notes, but not assuming
the conversion of the Notes or the exercise of warrants of any other
Selling Securityholder.
(3) Represents an additional $650,000 principal amount of Notes acquired after
November 3, 1997.
(4) Information concerning other Selling Securityholders will be set forth in
supplements to this Prospectus from time to time, if required.
(5) Assumes that any other holders of Notes, or any further transferees,
pledgees, donees or successors of or from any such other holders of Notes,
do not beneficially own any Common Stock other than the Common Stock
issuable upon conversion of the Notes at the initial conversion rate.
------------------
FOR A DISCUSSION OF CERTAIN FACTORS THAT SHOULD BE
CONSIDERED IN CONNECTION WITH AN INVESTMENT IN THE
SECURITIES OFFERED HEREBY, SEE "RISK FACTORS"
BEGINNING ON PAGE 6 OF THE PROSPECTUS.
------------------
THESE SECURITIES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE
SECURITIES AND EXCHANGE COMMISSION OR ANY STATE SECURITIES COMMISSION NOR HAS
THE SECURITIES AND EXCHANGE COMMISSION OR ANY STATE SECURITIES COMMISSION
PASSED UPON THE ACCURACY OR ADEQUACY OF THIS PROSPECTUS.
ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.
------------------
The date of this Prospectus Supplement is December 8, 1997
