Hoku stock to be delisted
Hoku Corporation announced Friday that it will voluntarily end its listing of common stock on The NASDAQ Global Market.
The move comes after months of financial woes, bills it could not pay and laying off 100 workers at its Pocatello plant. Earlier this year, the company told the Securities and Exchange Commission that it did not have enough money to file its annual report.
Public trading was halted July 5 when Hoku's stock was 10 cents, making the solar panel manufacturer not in compliance with NASDAQ's continuing listing requirements due to its inability to maintain a $1 minimum bid price.
It will formally withdraw from NASDAQ by filing a Form 25 with the SEC, likely by Monday.
NASDAQ has informed Hoku that the trading of its common stock will remain halted until the delisting is completed upon the Form 25 filing.
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