SCHEDULE 13D
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 5)
Avanex Corporation
-------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, par value $.001 per share
--------------------------------------------------------------------------------
(Title of Class of Securities)
05348W 10 9
-------------------------------------------------------------------------------
(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
-------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to Receive Notices
and Communications)
September 7, 2005
-------------------------------------------------------------------------------
(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).
- 2 -
SCHEDULE 13D
CUSIP No. 05348W109
--------------------------------------------------------------------------------
--------- ----------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
Corning Incorporated
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
16-0393470
--------- ----------------------------------------------------------------------
--------- ----------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a)
(b) X
--------- ----------------------------------------------------------------------
--------- ----------------------------------------------------------------------
3 SEC USE ONLY
--------- ----------------------------------------------------------------------
--------- ----------------------------------------------------------------------
4 SOURCE OF FUNDS
--------- ----------------------------------------------------------------------
--------- ----------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e)
--------- ----------------------------------------------------------------------
--------- ----------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
--------- ----------------------------------------------------------------------
--------------------------------- -------- -------------------------------------
7 SOLE VOTING POWER
10,737,272 shares
NUMBER OF
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 0
OWNED BY
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 10,737,272 shares
PERSON WITH
10 SHARED DISPOSITIVE POWER
0
--------------------------------- -------- ------------------------------------
--------- ---------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON 10,737,272
--------- ---------------------------------------------------------------------
--------- ---------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES
--------- ---------------------------------------------------------------------
--------- ---------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.4%
--------- ---------------------------------------------------------------------
--------- ---------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
--------- ---------------------------------------------------------------------
CUSIP No. 05348W109 SCHEDULE 13D
This Amendment No. 5 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. 5 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 information received
from Avanex, Avanex had 145,413,869 shares of Avanex Common Stock issued and
outstanding on September 6, 2005. This Amendment No. 5 reflects a decrease in
the percentage ownership of the Issuer's shares resulting from 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 as of September 8, 2005, 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 3. Source and Amount of Funds or Other Consideration
Not applicable.
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. Dr. Miller has notified Avanex that he will
not serve as a member of the Board of Directors of Avanex after October 27,
2005.
Item 5. Interest in Securities of the Issuer
As of September 8, 2005, Corning owns 10,737,272 shares of Avanex Common
Stock, or 7.4% of the outstanding. Corning has the sole power to vote 10,737,272
shares of Avanex Common Stock and does not share voting power with respect to
any shares of Avanex Common Stock. Corning has the sole dispositive power with
respect to 10,737,272 shares of Avanex Common Stock and does not share
dispositive power with respect to any shares of Avanex Common Stock. On August
30, 2005, Corning sold 27,100 shares of Avanex Common Stock in the open market
at an average price per share of $0.85. On August 31, 2005, Corning sold 450,000
shares of Avanex Common Stock in the open market at an average price per share
of $0.81. On September 1, 2005, Corning sold 232,000 shares of Avanex Common
Stock in the open market at an average price per share of $0.82. On
CUSIP No. 05348W109 SCHEDULE 13D
September 2, 2005, Corning sold 250,000 shares of Avanex Common Stock in the
open market at an average price per share of $0.80. On September 6, 2005,
Corning sold 250,000 shares of Avanex Common Stock in the open market at an
average price per share of $0.81. On September 7, 2005, Corning sold 938,354
shares of Avanex Common Stock in the open market at an average price per share
of $0.81.
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.
Item 7. Material to Be Filed as Exhibits
Not applicable.
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: September 8, 2005 Corning Incorporated
By: /S/ DENISE A. HAUSELT
-------------------------------------------
Print Name: Denise A. Hauselt, Esq.
Title: Secretary and Assistant General Counsel
CUSIP No. 05348W109 SCHEDULE 13D
Annex A to Schedule 13D
Executive Officers of Corning Incorporated (all with business addresses at One
Riverfront Plaza, Corning, New York 14831):
Name: Citizenship: Title:
------------------------ --------------- --------------------------------------
------------------------ --------------- --------------------------------------
Larry Aiello United States President & Chief Executive Officer,
Corning Cable Systems
------------------------ --------------- --------------------------------------
------------------------ --------------- --------------------------------------
Katherine A. Asbeck United States Senior Vice President & Corporate
Controller
------------------------ --------------- --------------------------------------
------------------------ --------------- --------------------------------------
Robert B. Brown United States Executive Vice President -
Environmental Technologies
------------------------ --------------- --------------------------------------
------------------------ --------------- --------------------------------------
Robert L. Ecklin United States Executive Vice President -
Environmental Technologies & Strategic
Growth
------------------------ --------------- --------------------------------------
------------------------ --------------- --------------------------------------
William D. Eggers United States Senior Vice President & General Counsel
------------------------ --------------- --------------------------------------
------------------------ --------------- --------------------------------------
James B. Flaws* United States Vice Chairman & Chief Financial Officer
------------------------ --------------- --------------------------------------
------------------------ --------------- --------------------------------------
Kirk R. Gregg United States Executive Vice President & Chief
Administrative Officer
------------------------ --------------- --------------------------------------
------------------------ --------------- --------------------------------------
James R. Houghton* United States Chairman of the Board
------------------------ --------------- --------------------------------------
------------------------ --------------- --------------------------------------
Donald B. McNaughton United States Senior Vice President - Display
------------------------ --------------- --------------------------------------
------------------------ --------------- --------------------------------------
Lawrence D. McRae United States Senior Vice President, Corporate
Development
------------------------ --------------- --------------------------------------
------------------------ --------------- --------------------------------------
Joseph A. Miller United States Executive Vice President & Chief
Technology Officer
------------------------ --------------- --------------------------------------
------------------------ --------------- --------------------------------------
Eric S. Musser United States Vice President and General Manager,
Optical Fiber
------------------------ --------------- --------------------------------------
------------------------ --------------- --------------------------------------
Mark S. Rogus United States Senior Vice President & Treasurer
------------------------ --------------- --------------------------------------
------------------------ --------------- --------------------------------------
Pamela C. Schneider United States Senior Vice President & Operations
Chief of Staff
------------------------ --------------- --------------------------------------
------------------------ --------------- --------------------------------------
Peter F. Volanakis* United States Chief Operating Officer
------------------------ --------------- --------------------------------------
------------------------ --------------- --------------------------------------
Wendell P. Weeks* United States President & Chief Executive Officer
------------------------ --------------- --------------------------------------
*Also a member of the Board of Directors
CUSIP No. 05348W109 SCHEDULE 13D
Non-Employee Directors of Corning Incorporated (all with business addresses at
One Riverfront Plaza, Corning, New York 14831):
Name: Citizenship: Title:
---------------------- ---------------- ---------------------------------------
---------------------- ---------------- ---------------------------------------
John Seely Brown United States Retired Chief Scientist, Xerox
Corporation
---------------------- ---------------- ---------------------------------------
---------------------- ---------------- ---------------------------------------
Gordon Gund United States Chairman & Chief Executive Officer,
Gund Investment Corp.
---------------------- ---------------- ---------------------------------------
---------------------- ---------------- ---------------------------------------
Jeremy R. Knowles United States Amory Houghton Professor of Chemistry
& Biochemistry, Harvard University
---------------------- ---------------- ---------------------------------------
---------------------- ---------------- ---------------------------------------
John M. Hennessy United States Senior Advisor, Credit Suisse First
Boston
---------------------- ---------------- ---------------------------------------
---------------------- ---------------- ---------------------------------------
James J. O'Connor United States Retired Chairman of the Board & Chief
Executive Officer, Unicom Corporation
---------------------- ---------------- ---------------------------------------
---------------------- ---------------- ---------------------------------------
Deborah Rieman United States Retired President & Chief Executive
Officer, Check Point Software
Technologies, Inc.
---------------------- ---------------- ---------------------------------------
---------------------- ---------------- ---------------------------------------
H. Onno Ruding The Netherlands Retired Vice President, Citicorp &
Citibank, N.A.
---------------------- ---------------- ----------------------------------------
---------------------- ---------------- ----------------------------------------
Eugene C. Sit United States Chairman, Chief Executive Officer &
Chief Investment Officers, Sit
Investment Associates, Inc.
--------------------- ----------------- ---------------------------------------
--------------------- ----------------- ---------------------------------------
William D. Smithburg United States Retired Chairman, President & Chief
Executive Officer, The Quaker Oats
Company
--------------------- ----------------- ---------------------------------------
--------------------- ----------------- ---------------------------------------
Hansel E. Tookes II United States Retired Chairman & Chief Executive
Officer, Raytheon Aircraft Company
--------------------- ----------------- ---------------------------------------
--------------------- ----------------- ---------------------------------------
Padmasree Warrior United States Executive Vice President and Chief
Technology Officer, Motorola, Inc.
---------------------- ---------------- ----------------------------------------