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Corning Stock’s New $2 Billion Share Tap Implies About 1.4% Dilution
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Corning Stock’s New $2 Billion Share Tap Implies About 1.4% Dilution
Corning’s new $2 billion share-sale program is large in dollars but modest relative to the company’s equity value. At Friday’s $166.40 closing price, using the entire authorization would require about 12.0 million new shares. Against the 861.4 million shares Corning reported outstanding on July 24, that would increase the share count by roughly 1.40% and…
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