SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
January 26, 2000
(Date of earliest event reported)
Corning Incorporated
(Exact name of Registrant as specified in its charter)
New York 1-3247 16-0393470
(State of (Commission (IRS Employer
Incorporation) File No.) Identification No.)
One Riverfront Plaza, Corning, New York 14831
(Address of principal executive offices)
(607) 974-9000
(Registrant's telephone number)
INFORMATION TO BE INCLUDED IN THE REPORT
Item 5. OTHER EVENTS
On January 26, 2000, Corning Incorporated, a New York corporation ("Corning"),
announced that it had commenced the public offering of 13,000,000 shares of
newly issued common stock (excluding an overallotment option) at $151.375 per
share.
The net proceeds from the sale of the common stock would be used to pay for the
previously-announced acquisition of the worldwide optical fiber, cable and
hardware business of Siemens AG; to repay bank debt to be assumed in the merger
acquisition of Oak Industries Inc.; to repay all of Corning's outstanding
commercial paper and for general corporate purposes.
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On January 26, 2000, Corning issued a press release which read as follows:
FOR RELEASE - JANUARY 26, 2000
Corning Incorporated Priced 13,000,000 Shares of Common Stock
CORNING, N.Y. Corning Incorporated (NYSE:GLW) today announced that it
had commenced the offering of 13,000,000 shares of newly issued common
stock at $151.375 per share. The company said the public offering is
being underwritten and joint-lead managed by Goldman, Sachs & Co., and
J.P. Morgan Securities Inc. The Company has granted the underwriters
an overallotment option covering up to 1,950,000 shares.
Corning said it intends to use the $1,908,225,000 in estimated net
proceeds to pay the cash portion of the purchase price for the
worldwide optical fiber, cable and hardware businesses of Siemens AG;
to repay bank debt to be assumed in the merger of Oak Industries Inc.;
to repay all of Corning's outstanding commercial paper, and for
general corporate purposes.
Established in 1851, Corning Incorporated (www.corning.com) creates
leading-edge technologies for the fastest-growing markets of the
world's economy. Corning manufactures optical fiber, cable and
photonic products for the telecommunications industry; and high-
performance displays and components for television and other
communications-related industries. The company also uses advanced
materials to manufacture products for scientific, semiconductor and
environmental markets.
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Corning Contact:
Robert W. DeMallie
(607) 974-8832
[email protected]
Investor Relations Contact:
Katherine M. Dietz
(607) 974-8217
[email protected]
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned, hereunto duly authorized.
CORNING INCORPORATED
By: /s/ M. Ann Gosnell
M. Ann Gosnell
Assistant Secretary
Dated: January 26, 2000
