The company designs and makes parts for fuel cells.

According to an amended filing with the Securities and Exchange Commission, Hoku Scientific still plans to offer 4.2 million common shares. The company is expected to price its IPO this week.

Hoku Scientific said it intends to use net proceeds from the IPO to build a headquarters, to continue research and development and for general corporate purposes.

Piper Jaffray, SG Cowen & Co. and Thomas Weisel Partners LLC were listed as underwriters for the offering. The underwriters also have an option to purchase up to 630,000 additional shares to cover overallotments.

For the fiscal year ended March 31, Hoku Scientific posted a net loss of $728,000, compared with a net loss of $2.87 million for fiscal 2004.

The company plans to list its shares on the Nasdaq National Market under the symbol "HOKU."