UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): ~~May~~June 2112, 2012

HOKU CORPORATION
(Exact name of registrant as specified in its charter)

Delaware	000-51458	99-0351487
(State or other jurisdiction	(Commission File Number)	(IRS Employer Identification No.)
Of incorporation)

1288 Ala Moana Blvd, Suite 220 Honolulu, Hawaii		96814
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code: (808) 682-7800

Not Applicable
(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 1.0102. ~~Entry~~ Termination ~~into~~of a Material Definitive Agreement.

~~Credit~~As previously disclosed in the Form 10-Q for the Quarterly Period ended December 31, 2011 (the “Form -10-Q”) of Hoku Corporation (the “Corporation”), the Amended and Restated Supply Agreement dated as of February 26, 2009, as amended on November 25, 2009, December 18, 2010 and September 19, 2011 (the “Supply Agreement”) between Hoku Materials, Inc. (“Hoku Materials”), a wholly-owned subsidiary of the Corporation and Jinko Solar Co., Ltd. (“Jinko”) required Hoku Materials to refund a portion of Jinko’s $20.0 million deposit on a monthly basis for the period from September 2011 to June 2012. Hoku Materials did not make all of these payments to Jinko. On June 13, 2012, Hoku Materials and the Corporation received a notice (the “Notice”) from Jinko stating that Jinko exercised its right to terminate the Supply Agreement because Hoku Materials failed to make these payments to Jinko.

~~On May 21, 2012~~ Hoku ~~Corporation~~Materials ~~(“Hoku”),~~holds ~~entered~~a ~~into~~total aof ~~credit~~$19.1 ~~agreement~~million ~~(the~~of ~~“Credit~~Jinko’s ~~Agreement”)~~deposit, ~~with~~which ~~China~~was ~~Merchants~~made ~~Bank~~as ~~Co.,~~a ~~Ltd.,~~prepayment ~~New~~for ~~York~~future ~~Branch~~deliveries ~~(the~~of ~~“Lender”)~~polysilicon. The ~~Credit~~Notice ~~Agreement~~states ~~provides~~that ~~for~~Jinko ais ~~loan~~entitled ~~(the~~to ~~“Loan”)~~receive in an ~~aggregate~~immediate ~~principal~~payment ~~amount~~ of $~~5 million~~28. ~~The~~7 ~~principal amount of the Loan and any unpaid interest thereon must be paid in full on May 21~~million, ~~2017~~ or ~~the~~150% ~~tenth~~of ~~business day prior to~~ the ~~date~~amount onof ~~which~~ the ~~letters~~outstanding ~~of credit expire or otherwise terminate~~deposit, ~~whichever~~plus isaccrued ~~earlier. Hoku~~interest ~~may~~on ~~prepay~~ the ~~Loan,~~cash ~~in whole or in part~~deposit, atdue ~~any~~to ~~time~~Jinko’s ~~without~~termination ~~penalty, provided that any such prepayment must be for a minimum~~ of ~~$100,000~~the ~~and~~Supply ~~in multiples of $100,000 in excess thereof~~Agreement.

The ~~Credit~~Corporation ~~Agreement~~set ~~includes~~forth ~~customary~~in ~~representations,~~Item ~~warranties,~~1A ~~covenants,~~of ~~acceleration,~~the ~~indemnity,~~Form ~~and~~10-Q ~~events~~under the risk factor “If we are unable to renegotiate amendments to our supply agreements or if any of ~~default~~our ~~provisions~~supply ~~which~~agreements are terminated for any reason, our business will be harmed” the consequences that may ~~accelerate~~arise ~~Hoku~~from Jinko’s ~~payment~~Notice. This ~~obligations~~risk ~~under~~factor ~~the~~is ~~Credit~~incorporated ~~Agreement~~herein by reference.

~~The~~Item ~~Loan is secured by a standby letter of credit in Renminbi issued by China Merchants Bank Co~~2.~~, Ltd~~04., Triggering ~~Chengdu~~Events ~~Branch~~That ~~which~~Accelerate ~~was~~or ~~procured~~Increase bya ~~Tianwei~~Direct ~~New~~Financial ~~Energy~~Obligation ~~Holdings~~or ~~Co.,~~an ~~Ltd.,~~Obligation ~~Hoku’s~~under ~~parent company (“Tianwei”), in favor of the Lender and which has~~ an ~~aggregate~~Off-Balance ~~drawable~~Sheet ~~amount of approximately $5~~Arrangement.~~28 million.~~

The ~~foregoing~~information ~~description~~set offorth ~~the~~in ~~Credit~~Item ~~Agreement~~1.02 ~~does~~above ~~not purport to be complete and~~ is ~~qualified~~incorporated ~~in its entirety~~ by reference tointo ~~the Credit Agreement, a copy of which is attached as Exhibit 10.1 to~~ this ~~Current~~Item ~~Report on Form 8-K and incorporated herein by reference~~2.04.

~~Related Reimbursement~~Item ~~Agreement~~5.02. Departure ~~among~~of ~~Hoku,~~Directors ~~Hoku~~or ~~Materials~~Principal ~~and~~Officers; ~~Tianwei~~Election of Directors; Appointment of Principal Officers; Compensatory Arrangements of Certain Officers.

On ~~May~~June 2112, 2012, inScott ~~consideration~~Paul ofresigned ~~Tianwei’s~~as ~~procurement of~~ the ~~initial~~Chief ~~standby~~Executive ~~letter~~Officer of ~~credit to secure~~ the ~~Loan under the Credit Agreement~~Corporation, ~~Hoku~~effective ~~and~~June ~~Hoku’s subsidiary~~30, ~~Hoku~~2012. Mr. ~~Materials,~~Paul ~~Inc.~~will ~~(“Hoku~~continue ~~Materials”),~~to ~~entered~~serve ~~into~~as a ~~Reimbursement~~director ~~Agreement~~of (the ~~“First~~Corporation. On ~~Reimbursement~~the ~~Agreement”)~~same ~~with Tianwei obligating Hoku to repay Tianwei for~~date, ~~among~~the ~~other~~board ~~things,~~of ~~any~~directors ~~reimbursement obligations~~ of ~~Tianwei~~the ~~arising~~Corporation ~~from any draws under~~ (the ~~standby~~“Board”) ~~letter~~appointed of“Jeremy” ~~credit~~Xiaoming ~~and all interest~~Yin, ~~fees and expenses incurred by Tianwei in connection with procuring the standby letter of credit contemplated by the Credit Agreement~~Ph. ~~In addition~~D., ~~Hoku~~the ~~Materials is guaranteeing Hoku~~Corporation’s ~~obligations~~current ~~to repay Tianwei~~President, ~~and~~as ~~Hoku~~the ~~and~~acting ~~Hoku~~Chief ~~Materials~~Executive ~~are~~Officer ~~granting~~and toPresident ~~Tianwei a security interest in all~~ of ~~their~~the ~~fixtures~~Corporation, ~~personal~~effective ~~property~~July ~~and real property and all proceeds and products from such fixtures~~1, ~~personal property and real property as security for the payment and performance of all their obligations under the First Reimbursement Agreement~~2012.

~~The~~Dr. ~~foregoing~~Yin, ~~description~~age 49, has served as the President of the ~~First~~Corporation ~~Reimbursement~~since ~~Agreement~~February ~~does~~28, ~~not~~2011. Prior ~~purport~~to joining the Corporation he served as the founder and managing director of SinoTransPacific Ventures, a cross-border private equity investment advisory firm headquartered in Los Angeles that focuses on clean technologies. From 2000 to be2007, ~~complete~~Dr. Yin was a founding member and isVice ~~qualified~~President at LightCross, Inc., a California-based manufacturer of optical networking and switching components, which was merged with Arroyo Optics in ~~its~~2005 ~~entirety~~to byform ~~reference~~Kotura, Inc. Subsequent to the ~~First~~acquisition ~~Reimbursement~~of ~~Agreement~~LightCross, Dr. Yin served in a ~~copy~~variety of ~~which~~executive isroles ~~attached~~at Kotura, Inc. From 1996 to 2000, Dr. Yin served as ~~Exhibit~~the 10program manager and technical staff at the IBM, Siemens, Toshiba Development Alliance in East Fishkill, New York.2 Dr. toYin ~~this~~holds ~~Current~~a ~~Report~~bachelor's ondegree ~~Form~~from ~~8-K~~the University of Science and ~~incorporated~~Technology ~~herein~~of byChina, ~~reference~~an M.B.A. from UCLA Anderson School of Management, and a Ph.D. in semiconductor physics from the City University of New York.

~~Amendment~~In Noconnection with Dr. 1Yin’s toappointment ~~Credit~~as ~~Agreement~~the acting Chief Executive Officer and President of the Corporation, Dr. Yin’s annual base salary will be increased to $320,000.

On ~~May~~June 2212, 2012, ~~Hoku and~~ the ~~Lender~~Corporation ~~entered~~adopted ~~into~~a ~~Amendment~~key ~~No.~~employee 1incentive program (~~“Amendment~~the ~~No. 1~~“KEIP”) tofor ~~the~~Dr. ~~Credit~~Yin, ~~Agreement~~Jerrod Schreck, ~~dated~~Chief ~~May~~Strategy ~~24,~~Officer ~~2010~~and ~~(the~~President ~~“Original~~of ~~Credit~~Hoku ~~Agreement~~Solar, Inc., “Mike”) Tao Zhang, Ph. ~~Pursuant~~D., toPresident ~~Amendment~~of NoHoku Materials, Inc., 1“Sean” Dayi Liu, ~~maturity~~Vice ~~date~~President of ~~the~~Finance, ~~loan~~and inKeith ~~the~~Asato, ~~aggregate~~Corporate ~~principal~~Controller. Under ~~amount~~the ofKEIP, ~~$20~~Dr. ~~million~~Yin, ~~under~~Mr ~~the~~Schreck, ~~Original~~Mr. ~~Credit~~Zhang, ~~Agreement~~Mr. ~~was~~Liu ~~changed~~and ~~from~~Mr. ~~May~~Asato ~~23,~~are ~~2012~~eligible tofor ~~the~~cash ~~earlier~~incentive payments of ~~(i)~~up ~~May~~to 22$60,000, ~~2013~~$45,833, $29,167, $16,667 and ~~(ii)~~$16,667, respectively, upon the ~~tenth~~achievement ~~business~~of ~~day~~designated ~~prior~~milestones, toprovided that the ~~date~~participant onis ~~which~~employed by the ~~Letter~~Corporation or one of ~~Credit~~its ~~expires~~subsidiaries orat ~~otherwise~~the ~~terminates. In~~date ~~addition,~~of ~~under~~the ~~Amendment~~achievement ~~No.~~of 1,such milestones. For the ~~duration~~participants ofin the ~~period~~KEIP ~~specified~~other ~~for~~than ~~the~~Mr. ~~term~~Schreck, ~~“Interest~~the ~~Period”~~milestones ~~was~~are ~~changed~~the ~~from~~Corporation ~~one~~securing ~~year~~a tomaterial ~~three~~financing ~~months~~ and ~~the~~completing ~~facility~~a ~~fee~~significant ~~was~~restructuring ~~increased~~within tothe ~~2.5%~~designated ~~from~~time 0period.~~5%.~~ ~~The~~For ~~Lender~~Mr. ~~also~~Schreck, ~~waived~~the ~~existing~~milestones ~~defaults~~relate ~~and~~to ~~events~~Hoku ofSolar, ~~default~~Inc. ~~under~~achieving ~~the~~certain ~~Original~~designated ~~Credit~~performance ~~Agreement~~metrics.

InItem ~~connection with Amendment No~~7. ~~1, Tianwei has arranged for an extension to the existing standby letter of credit (the “Original SBLC”) in Renminbi issued by China Merchants Bank Co~~01., Regulation ~~Ltd.,~~FD ~~Chengdu Branch, in favor of the Lender and which has an aggregate drawable amount of approximately $20~~Disclosure.~~12 million, which secures the loan under the Original Credit Agreement.~~

~~The~~On ~~foregoing~~June ~~description~~15, of2012, ~~Amendment~~the ~~No.~~Corporation 1issued ~~does~~a ~~not~~press ~~purport~~release toannouncing bethe ~~complete~~developments ~~and~~described ~~is qualified~~ in ~~its~~this ~~entirety~~Current byReport ~~reference~~on toForm ~~Amendment No~~8-K. A ~~1, a~~ copy of ~~which~~the press release is attached as Exhibit 1099.31 to this Current Report on Form 8-K ~~and incorporated herein by reference~~.

Related Reimbursement Agreement among Hoku, Hoku Materials and Tianwei

On May 22, 2012, in consideration for Tianwei procuring the Original SBLC and arranging the extension of the Original SBLC, Hoku and Hoku Materials entered into a Reimbursement Agreement (the “Second Reimbursement Agreement”) with Tianwei obligating Hoku to repay Tianwei for, among other things, any reimbursement obligations of Tianwei arising from any draws under the Original SBLC (as extended) and all interest, fees and expenses incurred by Tianwei in connection with providing and extending the duration of the Original SBLC. In addition, Hoku Materials is guaranteeing Hoku’s obligations to repay Tianwei, and Hoku and Hoku Materials are granting to Tianwei a security interest in all of their fixtures, personal property and real property and all proceeds and products from such fixtures, personal property and real property as security for the payment and performance of all their obligations under the Second Reimbursement Agreement.

The foregoing description of the Second Reimbursement Agreement does not purport to be complete and is qualified in its entirety by reference to the Second Reimbursement Agreement, a copy of which is attached as Exhibit 10.2 to this Current Report on Form 8-K and incorporated herein by reference.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information set forth in Item 1.01 above is incorporated by reference into this Item 2.03.

Item 7.01 Regulation FD Disclosure

On May 22, 2012, Hoku issued a press release that provided a business update. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.		Description
10.1		Credit Agreement, dated May 21, 2012, between Hoku Corporation and China Merchants Bank Co., Ltd., New York Branch
99.1		Press Release, dated June 15, 2012, entitled “Hoku’s Board of Directors Forms Restructuring Committee.”
10.2		Reimbursement Agreement, dated May 21, 2012, between Hoku Corporation, Hoku Materials, Inc. and Tianwei New Energy Holdings Co., Ltd.
10.3		Amendment No. 1 to the Credit Agreement, dated May 22, 2010, between Hoku Corporation China Merchants Bank Co., Ltd., New York Branch
10.4		Reimbursement Agreement, dated May 22, 2012, between Hoku Corporation, Hoku Materials, Inc. and Tianwei New Energy Holdings Co., Ltd.
99.1		Press Release, entitled “Hoku Corporation Provides Business Update,” dated May 22, 2012

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Dated: ~~May~~June 2315, 2012

	Hoku Corporation

	By:	/s/ Scott Paul
		Scott Paul
		Chief Executive Officer

EXHIBIT INDEX

Exhibit No.		Description
10.1		Credit Agreement, dated May 21, 2012, between Hoku Corporation and China Merchants Bank Co., Ltd., New York Branch
10.2		Reimbursement Agreement, dated May 21, 2012, between Hoku Corporation, Hoku Materials, Inc. and Tianwei New Energy Holdings Co., Ltd.
10.3		Amendment No. 1 to the Credit Agreement, dated May 22, 2010, between Hoku Corporation China Merchants Bank Co., Ltd., New York Branch
10.4		Reimbursement Agreement, dated May 22, 2012, between Hoku Corporation, Hoku Materials, Inc. and Tianwei New Energy Holdings Co., Ltd.
99.1		Press Release, entitled “Hoku Corporation Provides Business Update,” dated May 22, 2012

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