---
schema_version: "secwatch.filing_event.v1"
accession: "0001206774-24-000271"
form_type: "8-K"
ticker: "GLW"
cik: "0000024741"
company_name: "CORNING INC /NY"
filed_at: "2024-03-15T23:59:59+00:00"
generated_at: "2026-06-04T18:14:22.595873+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Corning subsidiary signs $835M construction lease for Hemlock, MI facility

## Summary
- Solar Technology LLC entered construction/lease agreements for a manufacturing facility in Hemlock, MI; cost not to exceed $835M.
- Facility to be constructed on ground-leased property from DC HSC Holdings LLC; construction expected ~26 months from start.
- Post-construction, Solar Technology will lease the facility for ~5 years from BA Leasing BSC, LLC, with purchase options after year 2.
- Corning guarantees Solar Technology's obligations under the transaction agreements.
- Financing provided by Bank of America entities; interest and principal paid through rent.

## SEC filing metadata
- accession: 0001206774-24-000271
- form_type: 8-K
- ticker: GLW
- cik: 0000024741
- company_name: CORNING INC /NY
- filed_at: 2024-03-15T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/24741/000120677424000271/0001206774-24-000271-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/24741/000120677424000271/glw4309191-8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001206774-24-000271
- JSON: https://secwatch.observer/filing/0001206774-24-000271.json
- Plain text: https://secwatch.observer/filing/0001206774-24-000271.txt

## Key facts
- Material Agreements
  CORNING INC /NY entered into Construction Agency Agreement with BA Leasing BSC, LLC (effective 2024-03-12).
  - Action: entry
  - Counterparty: BA Leasing BSC, LLC
  - Effective: 2024-03-12
  source text: a Construction Agency Agreement (the “Construction Agency Agreement”) between ST and BAL; and 3. a Lease, Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (the “Lease”) between ST
  evidence_url: https://www.sec.gov/Archives/edgar/data/24741/000120677424000271/0001206774-24-000271-index.htm
- Material Agreements
  CORNING INC /NY entered into Transaction Agreement with BA Leasing BSC, LLC, Bank of America, N.A., and the persons named on Schedule II thereto, as "Participant Interest Parties" valued at not to exceed $835 million (effective 2024-03-12).
  - Action: entry
  - Counterparty: BA Leasing BSC, LLC, Bank of America, N.A., and the persons named on Schedule II thereto, as "Participant Interest Parties"
  - Value: not to exceed $835 million
  - Effective: 2024-03-12
  source text: A Transaction Agreement (the “Transaction Agreement”) among ST, as Lessee and Construction Agent, BA Leasing BSC, LLC, as Lessor (“BAL”), Bank of America, N.A., not in its individual capacity, except as expressly stated therein, but solely as Administrative Agent (“BofA”), and the persons named on Schedule II thereto, as “Participant Interest Parties”
  evidence_url: https://www.sec.gov/Archives/edgar/data/24741/000120677424000271/0001206774-24-000271-index.htm
- Material Agreements
  CORNING INC /NY entered into Lease, Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing with BA Leasing BSC, LLC valued at not to exceed $835 million (effective 2024-03-12).
  - Action: entry
  - Agreement: lease
  - Counterparty: BA Leasing BSC, LLC
  - Value: not to exceed $835 million
  - Effective: 2024-03-12
  source text: On March 12, 2024, Solar Technology LLC (“ST”), a wholly-owned subsidiary of Corning Incorporated (the “Company”) entered into certain agreements related to the construction and leasing of a planned manufacturing facility in Hemlock, Michigan
  evidence_url: https://www.sec.gov/Archives/edgar/data/24741/000120677424000271/0001206774-24-000271-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.