Rule 424(b)(3) SEC File No.: 333-69677 ODETICS, INC. ------------- SUPPLEMENT NO. 1 DATED MAY 7, 1999 TO PROSPECTUS DATED MARCH 5, 1999 This Supplement No. 1 is part of and should be read in conjunction with the Prospectus of Odetics, Inc., a Delaware corporation, dated March 5, 1999 relating to the resale of 1,191,323 shares of Odetics' Class A common stock by certain stockholders of Odetics. Capitalized terms used but not defined in this Supplement No. 1 have the meanings given to them in the prospectus. The information presented herein either supersedes and/or adds to similar information included in the prospectus. The information contained in the table under the caption "Selling Stockholders" appearing on page 14 of the prospectus is hereby amended and restated to indicate the number of shares being offered by the selling stockholders named below. _______________ * Represents beneficial ownership of less than 1% of the outstanding shares of Class A common stock, assuming the sale of all shares registered by this prospectus.
Number of Number of Percent of Shares Shares Outstanding Beneficially Registered for Shares After the Name of Selling Stockholder Owned Sale Hereby Offering - --------------------------- ------------- -------------- ---------------- Catalyst Fund............................ 44,242 44,242 -- Fleet (Catalyst)......................... 22,266 22,266 -- Catalyst Fund (Bermuda), L.P............. 17,639 17,639 -- Opportunity Catalyst..................... 38,169 38,169 -- Farvane Limited.......................... 6,651 6,651 -- Chamberlin II............................ 21,976 21,976 -- Pinnacle................................. 100,000 100,000 -- Henry Partners........................... 47,736 37,736 * Jonathan W. Old III...................... 37,736 37,736 -- Tonga Partners L.P....................... 120,500 80,000 * Pyramid Trading Limited Partnership...... 233,963 233,963 -- Robert Lichtenstein...................... 196,227 196,227 -- Deephaven Opportunity Trading............ 150,943 150,943 -- Lorry Lichtenstein....................... 193,708 113,208 1.1% Jacob Kiferbaum.......................... 30,189 30,189 -- Sam Sallerson............................ 6,708 6,708 -- Barry Seidman............................ 6,708 6,708 -- Bruce Slovitt............................ 6,708 6,798 -- Arnold Zousmer........................... 10,065 10,065 -- Sea Cap Investors LLC.................... 30,189 30,189 -- --------- --------- Total 1,322,323 1,191,323 1.1%