Tag Archives: tianwei new energy holdings

Hoku Scientific (HOKU) Gets A Chinese Bailout, Shares Soar

Hoku Scientific (HOKU) has been thrown a big Chinese life preserver and shares are soaring in after hours trading.  China’s Tianwei New Energy Holdings announced a definitive agreement after the bell today to convert $50 million in prepayments to Hoku into common stock and related warrants (giving the company 60% ownership), another $50 million in debt financing and a commitment to help Hoku obtain additional financing if needed.    Financing will be provided by Tianwei and … Read the rest