UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 3)
Avanex Corporation
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(Name of Issuer)
Common Stock, par value $.001 per share
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(Title of Class of Securities)
05348W 10 9
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(CUSIP Number)
Denise A. Hauselt, Esq.
Deborah McLean Quinn, Esq. Secretary and Assistant General Counsel
Nixon Peabody LLP Corning Incorporated
Clinton Square Suite 1300 One Riverfront Plaza
Rochester, New York 14604 Corning, New York 14830-0001
Telephone: 585-263-1307 Telephone: 607-974-9000
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(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
November 10, 2004
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(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of ss.ss. 240.13d-1(e), 240.13d01(f) or 240.13d-1(g), check the
following box |_|.
Note: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See ss. 240.13d-7(b) for other
parties to whom copies are to be sent.
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
SCHEDULE 13D
CUSIP No. 05348W109
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1 NAME OF REPORTING PERSONS
Corning Incorporated
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
16-0393470
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a)
(b) X
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e)
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
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NUMBER OF 7 SOLE VOTING POWER
17,179,634 shares
SHARES -------- -------------------------------------
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BENEFICIALLY 8 SHARED VOTING POWER
0
OWNED BY -------- -------------------------------------
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EACH 9 SOLE DISPOSITIVE POWER
17,179,634 shares
REPORTING -------- -------------------------------------
-------- -------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
17,179,634
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
11.9%
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14 TYPE OF REPORTING PERSON*
CO
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SCHEDULE 13D
This Amendment No. 3 to Schedule 13D is filed by Corning Incorporated
("Corning"), a New York corporation, in connection with shares of the Common
Stock, par value $.001 per share, of Avanex Corporation ("Avanex" or "Issuer"),
a Delaware corporation with offices at 40919 Encyclopedia Circle, Fremont,
California 94538.
Item 1. Security and Issuer.
This Amendment No. 3 to Schedule 13D relates to shares of the Common Stock,
par value $.001 per share ("Common Stock") of Avanex Corporation (the "Issuer"
or "Avanex"). The Issuer's principal executive office is located at 40919
Encyclopedia Circle, Fremont, California 94538. Based upon Avanex's Form 10-Q
Quarterly Report for the period ended September 30, 2004, Avanex had 144,001,957
shares of Avanex Common Stock issued and outstanding on November 1, 2004. This
Amendment No. 3 reflects a decrease in the percentage ownership of the Issuer's
shares resulting the sale of shares of Avanex Common Stock by Corning.
Item 2. Identity and Background.
Corning is organized as a corporation under the laws of the State of New
York, and its business address is One Riverfront Plaza, Corning, New York 14831.
The names, business addresses, principal occupations and citizenship of the
directors and executive officers of Corning are set forth in Annex A hereto and
are incorporated herein by reference.
None of Corning or its directors or executive officers, has, during the
last five years, been (i) convicted in a criminal proceeding (excluding traffic
violations or similar misdemeanors), or (ii) been a party to a civil proceeding
of a judicial or administrative body of competent jurisdiction as a result of
which he, she or it is or was subject to a judgment, decree or final order
enjoining future violations of, or prohibiting or mandating activities subject
to, federal or state securities laws or finding any violation with respect to
such laws.
Item 4. Purpose of Transaction
As described in Item 4 of Schedule 13D filed on May 22, 2003, and pursuant
to the Stockholders' Agreement, a copy of which is filed therewith as Exhibit
99.3 and which is incorporated herein by reference, Joseph A. Miller, Executive
Vice President and Chief Technology Officer of Corning, serves as a member of
the Board of Directors of Avanex.
Item 5. Interest in Securities of the Issuer
Corning owns 17,179,634 shares of Avanex Common Stock, or 11.9% of the
outstanding. Corning has the sole power to vote 17,179,634 shares of Avanex
Common Stock and does not share voting power with respect to any shares of
Avanex Common Stock. On November 4, 2004, Corning sold 426,500 shares of Avanex
Common Stock in the open market at a price per share of $3.02. On November 5,
2004, Corning sold 400,000 shares of Avanex Common Stock in the open market at a
price per share of $3.09. On November 8, 2004, Corning sold 300,000 shares of
Avanex Common Stock in the open market at a price per share of $3.06. On
November 9, 2004, Corning sold 259,200 shares of Avanex Common Stock in the open
market at a price per share of $3.01. On November 10, 2004, Corning sold 248,500
shares of Avanex Common Stock in the open market at a price per share of $2.96.
On November 11, 2004, Corning sold 317,200 shares of Avanex Common Stock in the
open market at a price per share of $2.96. On November 12, 2004, Corning sold
277,400 shares of Avanex Common Stock in the open market at a price per share of
$2.95. On November 15, 2004, Corning sold 66,108 shares of Avanex Common Stock
in the open market at a price per share of $3.0306.
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer
Other than the Purchase Agreement and the Stockholders' Agreement, the
terms of which are described in Amendment No. 1 to Schedule 13D, filed on July
31, 2003, and copies of which were filed therewith and which are incorporated
herein by reference, and the Agreement Relating to Gift of Shares of the Common
Stock of Avanex Corporation, the terms of which are described in Amendment No. 2
to Schedule 13D, filed on December 29, 2003, and a copy of which is filed
therewith and which is incorporated herein by reference, there are no contracts,
arrangements, understandings or relationships among Corning or, to the best
knowledge of Corning, among any of Corning's executive officers and directors
or, to the their knowledge, between any of Corning's executive officers and
directors and any other person, with respect to the shares of Avanex Common
Stock.
No additional changes are made by this Amendment No. 3.
Signature
After reasonable inquiry and to the best of the undersigned's knowledge and
belief I certify that the information set forth in this statement is true,
complete and correct.
Dated: November 15, 2004 Corning Incorporated
By: /s/ Katherine Asbeck
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Print Name: Katherine Asbeck
Title: Senior Vice President and Controller
Annex A to Schedule 13D
Executive Officers of Corning Incorporated (all with business addresses at One
Riverfront Plaza, Corning, New York 14831):
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Name: Citizenship: Title:
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Larry Aiello United States President & Chief Executive Officer,
Corning Cable Systems
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Katherine A. Asbeck United States Senior Vice President
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Robert B. Brown United States Senior Vice President
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Robert L. Ecklin United States Executive Vice President
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William D. Eggers United States Senior Vice President
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James B. Flaws* United States Vice Chairman & Chief Financial Officer
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Kirk R. Gregg United States Executive Vice President & Chief
Administrative Officer
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James R. Houghton* United States Chairman of the Board & Chief
Executive Officer
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Donald B. McNaughton United States Senior Vice President
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Joseph A. Miller United States Executive Vice President & Chief
Technology Officer
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Mark S. Rogus United States Vice President & Treasurer
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Pamela C. Schneider United States Senior Vice President & Operations
Chief of Staff
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Peter F. Volanakis* United States Vice President, Corning Technologies
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Wendell P. Weeks* United States President & Chief Operating Officer
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*Also a member of the Board of Directors
Non-Employee Directors of Corning Incorporated (all with business addresses at
One Riverfront Plaza, Corning, New York 14831):
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Name: Citizenship: Title:
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John Seely Brown United States Retired Chief Scientist, Xerox
Corporation
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Gordon Gund United States Chairman & Chief Executive Officer,
Gund Investment Corp.
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Jeremy R. Knowles United States Amory Houghton Professor of Chemistry
& Biochemistry, Harvard University
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John M. Hennessy United States Senior Advisor, Credit Suisse First
Boston
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James J. O'Connor United States Retired Chairman of the Board & Chief
Executive Officer, Unicom Corporation
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Deborah Rieman United States Retired President & Chief Executive
Officer, Check Point Software
Technologies, Inc.
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H. Onno Ruding The Netherlands Retired Vice President, Citicorp
& Citibank, N.A.
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Eugene C. Sit United States Chairman, Chief Executive Officer &
Chief Investment Officers, Sit
Investment Associates, Inc.
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William D. Smithburg United States Retired Chairman, President & Chief
Executive Officer, The Quaker Oats
Company
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Hansel E. Tookes II United States Retired Chairman & Chief Executive
Officer, Raytheon Aircraft Company
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