Unregistered Sales of Equity Securities · Regulation FD Disclosure
Item 3.02 Unregistered Sales of Equity Securities. On May 6, 2026, in connection with the long-term partnership with NVIDIA Corporation (“NVIDIA”) described in Item 7.01 below, Corning Incorporated (the “Company”) entered into a securities purchase agreement (the “Purchase Agreement”) with NVIDIA pursuant to which the Company issued and sold to NVIDIA (i) a warrant (the “Traditional Warrant”) to p…
Filed May 6, 2026Accepted May 6, 2026, 7:43 AM EDTCIK 24741Accession 0001206774-26-000273
Corning (www.corning.com) is one of the world’s leading innovators in materials science, with a 175-year track record of life-changing inventions. Corning applies its unparalleled expertise in glass science, ceramic science, and optical physics, along with its deep manufacturing and engineering capabilities to develop category-defining products that transform industries and enhance people’s lives. Corning succeeds through sustained investment in RD&E, a unique combination of material and process innovation, and deep, trust-based relationships with customers who are global leaders in their industries. Corning’s capabilities are versatile and synergistic, which allows the company to evolve to meet changing market needs, while also helping its customers capture new opportunities in dynamic industries. Today, Corning’s markets include optical communications, mobile consumer electronics, display, automotive, solar, semiconductors, and life sciences.
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Item 3.02Item 3.02 - Unregistered Sales of Equity
Item 3.02 Unregistered Sales of Equity
Securities.
On
May 6, 2026, in connection with the long-term partnership with NVIDIA Corporation (“NVIDIA”) described in Item 7.01 below,
Corning Incorporated (the “Company”) entered into a securities purchase agreement (the “Purchase Agreement”)
with NVIDIA pursuant to which the Company issued and sold to NVIDIA (i) a warrant (the “Traditional Warrant”) to purchase
up to 15 million shares of common stock of the Company, par value $0.50 per share (the “Common Stock”), at an exercise price
of $180.00 per share, and (ii) a pre-funded warrant (the “Pre-Funded Warrant” and, together with the Traditional Warrant,
the “Warrants”) to purchase up to 3 million shares of Common Stock at an exercise price of $0.0001 per share, for an aggregate
purchase price of $500 million.
The
Warrants are exercisable at any time on or after the issuance date. The Traditional Warrant will expire on the earliest to occur of (a)
the third anniversary of the issuance date, (b) the termination of the definitive agreement governing the long-term partnership, subject
to certain exceptions, and (c) the consummation of a fundamental transaction by the Company. The Pre-Funded Warrant will expire on the
earlier to occur of (x) the third anniversary of the issuance date and (y) the consummation of a fundamental transaction by the Company.
The
exercise price and the number of shares of Common Stock issuable upon exercise of the Warrants will be subject to customary structural
anti-dilution adjustments. Pursuant to the Pre-Funded Warrant, NVIDIA will be entitled to participate on an as-exercised basis in distributions
to holders of the Common Stock.
The
offer and sale of the Warrants, and the shares of Common Stock issuable upon exercise thereof, have not been registered under the Securities
Act of 1933, as amended (the “Securities Act”) or any state securities laws and may not be offered or sold in the United
States absent registration under the Securities Act or pursuant to an applicable exemption therefrom. The Company issued the Warrants
in reliance on exemptions from registration provided for under Section 4(a)(2) of the Securities Act, and the shares of Common Stock
issuable upon exercise of the Warrants will be issued pursuant to an exemption from registration provided for under the Securities Act.
Item 7.01Item 7.01 - Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure.
On May 6, 2026, the Company and NVIDIA issued a joint press release announcing a long-term partnership to strengthen U.S. manufacturing
for AI infrastructure. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
The information furnished
pursuant to Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed “filed” for purposes
of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to liabilities
under that section and shall not be deemed to be incorporated by reference into any document filed under the Securities Act or the Exchange
Act, whether made before or after the date hereof, regardless of any general incorporation language in such filing.
Filed exhibits (1)
EX-99.1 (by filename) glw4631061-ex991.htm
EX-99.1
2
glw4631061-ex991.htm
PRESS RELEASE DATED MAY 6, 2026
Exhibit 99.1
News Release
FOR RELEASE - May 6, 2026
NVIDIA and Corning Announce Long-Term Partnership
To Strengthen U.S. Manufacturing for AI Infrastructure
Corning will expand U.S. optical connectivity
capacity 10x, build three new manufacturing plants, and create more than 3,000 high-paying American jobs
SANTA CLARA, Calif. and CORNING, N.Y. - NVIDIA (NASDAQ: NVDA) and Corning Incorporated (NYSE: GLW) today
announced a multiyear commercial and technology partnership to dramatically expand U.S.-based manufacturing of the advanced optical connectivity
solutions needed to power next-generation AI infrastructure.
Corning will increase its U.S.-based optical connectivity manufacturing
capacity by 10x and expand its U.S. fiber production capacity by more than 50% to meet the accelerating demand driven by AI factory buildouts.
The expansion includes the construction of three new advanced manufacturing facilities in North Carolina and Texas and the creation of
more than 3,000 new, high-paying American jobs.
Corning’s expanded capacity will supply the optical connectivity hyperscale
data centers use to deploy NVIDIA…