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Hoku Scientific (HOKU Quote) was among the big winners after the market's close Wednesday, soaring nearly 33% in after-hours trading on a new financing deal.
The Hawaii-based company said it had struck a nonbinding term sheet with Merrill Lynch (MER Quote) to borrow up to roughly $185 million in order to build and start up its planned polysilicon production plant in Pocatello, Idaho. When at full capacity, the facility is expected to churn out about 2,500 metric tons of solar-grade polysilicon annually, with initial customer shipments planned for the beginning of 2009.
Hoku shares were up $2.93 to $11.80 in recent extended trading. Merrill lost 1.6% to $58.65. ...
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