Corning Enters into $2.0 Billion At-The-Market Equity Offering Program

Overview of the Filing

On September 11, 2026, Corning Incorporated (NYSE: GLW) filed a Current Report on Form 8-K disclosing that it entered into an Equity Distribution Agreement with Goldman Sachs & Co. LLC.

Key Highlights

1. Offering Size: Up to $2,000,000,000 ($2.0 billion) in aggregate offering price of common stock ($0.50 par value per share).
2. Offering Mechanism: Sales will be executed from time to time via an "at the market" (ATM) equity offering program through Goldman Sachs acting as sales agent or directly as principal via separate Terms Agreements.
3. Agent Compensation: The company agreed to pay Goldman Sachs a commission equal to 1.0% of gross sales proceeds.
4. Registration Framework: Shares will be issued under Corning's effective Form S-3 shelf registration statement (File No. 333-295316), originally filed on April 24, 2026.
5. Use of Proceeds: Intended for general corporate purposes.

Market Impact & Considerations

• Dilution Risk: Establishing a $2.0B ATM facility gives Corning financial flexibility to opportunistically raise capital depending on market conditions, liquidity needs, and share price levels.
• Execution Discretion: Corning maintains full control over the timing, minimum price, and volume limits of any share issuances under the agreement.