01—Abstract
Summary
Summary of the 8-K filed September 11, 2026. Cited figures are marked; the original filing is the authoritative source.
Corning Incorporated (GLW) announced on September 11, 2026, that it has entered into an Equity Distribution Agreement with Goldman Sachs & Co. LLC to establish an "at the market" equity offering program.
This agreement allows Corning to sell up to $2 billiona of its common stock over time through Goldman Sachs acting as a sales agent. The primary purpose of this offering is to raise capital for general corporate purposes.
The timing and volume of stock sales will be determined by Corning based on market conditions, stock price, and its capital needs. This strategic move provides Corning with flexibility to access the capital markets efficiently as required, while Goldman Sachs will earn a 1.0%b commission on gross proceeds from sales.
02—Key points
Key Highlights
- Corning has established an at-the-market equity offering program with Goldman Sachs.
- The company can sell up to $2 billion of its common stock.
- Proceeds will be used for general corporate purposes.
- Sales will be conducted from time to time based on market conditions and Corning's capital needs.
- Goldman Sachs will act as the sales agent and will receive a 1.0% commission on gross proceeds.
- The offering is being made under a previously filed shelf registration statement.
- The agreement allows for sales through various market venues and methods, including direct sales to the principal.
03—Questions
Frequently Asked Questions
What is the primary purpose of this Equity Distribution Agreement?
The primary purpose is to provide Corning with flexibility to raise up to $2 billion in capital for general corporate purposes through the sale of its common stock over time, as needed, and based on market conditions.
How will the shares be sold?
Shares will be sold from time to time through Goldman Sachs acting as a sales agent, primarily via ordinary brokers' transactions or other methods permitted by law, including on national exchanges or over-the-counter.
What is the cost to Corning for using Goldman Sachs?
Corning will pay Goldman Sachs a commission equal to 1.0% of the gross proceeds from any common stock sold through the agreement.
Does this agreement mean Corning is definitely selling $2 billion worth of stock?
No, the agreement allows Corning to sell up to an aggregate offering price of $2 billion. The actual amount sold will depend on Corning's determination of its capital needs, market conditions, and the trading price of its common stock.
04—Continue