SOURCE: Paulson Capital Corp.
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March 19, 2008 15:47 ET
Paulson Investment Company, Inc. Completes Initial Public Offering of Healthy Fast Foods, Inc.
$5.1 Million in Gross Proceeds Raised
PORTLAND, OR--(Marketwire - March 19, 2008) - Paulson Investment Company, Inc., a wholly
owned subsidiary of Paulson Capital Corp. (NASDAQ: PLCC), today announced
its completion of the Initial Public Offering (IPO) for Healthy Fast Foods,
Inc., an owner and operator of EVOS® fast food franchises. The offering
provided for 1,000,000 Units priced at $5.10 per Unit, and resulted in
gross proceeds to Healthy Fast Foods of $5.1 Million. Each Unit consists
of one share of common stock, one redeemable Class A public warrant and two
non-redeemable Class B public warrants.
On Wednesday, March 19, 2008, Healthy Fast Foods' Units initiated trading
on the Over-the-Counter Bulletin Board (OTCBB) under the symbol "HFFIU,"
and will trade strictly as a Unit for 30 days.
Paulson Investment Company, Inc. served as the managing underwriter of the
IPO and has been granted an option to purchase up to an additional 150,000
Units to cover over-allotments.
A registration statement related to this offering was filed with and
declared effective by the U.S. Securities and Exchange Commission on
Tuesday, March 18, 2008. The offering was made solely by means of a
prospectus. This press release shall not constitute an offer to sell or
the solicitation of an offer to buy, nor shall there be any sale of these
securities in any state or jurisdiction in which such offer, solicitation
or sale would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About Paulson Capital Corporation
Paulson Capital Corporation is the parent company to Paulson Investment
Company, Inc. Headquartered in Portland, Oregon, Paulson Investment
Company, Inc. is the Northwest's largest independent brokerage firm and a
national leader in public offerings of small and emerging growth companies
with capital needs of $5 million to $45 million. Founded by Chester "Chet"
Paulson in 1970, it has managed or underwritten 163 securities offerings
and has generated more than $1.2 billion for client companies. The firm's
enduring success stems from its ability to recognize emerging industry
trends and from supporting emerging companies pioneering positive change
and advancements in those related markets.
With corporate and independent retail brokerage offices located in 11
states throughout the country, Paulson Investment Company, Inc. aims to
earn and build trust with retail and select institutional investors through
highly customized financial portfolio management, diversified financial
products and service offerings and effective administration and execution
of investment strategies that specifically address individual risk
tolerance levels. In addition, Paulson Investment Company, Inc.'s
brokerage clients look to the firm for compelling new investment ideas in
the small and emerging growth markets.
This release may contain "forward-looking statements" based on current
expectations but involving known and unknown risks and uncertainties.
Actual results of achievements may be materially different from those
expressed or implied. The Company's plan and objectives are based on
judgments with respect to future conditions in the securities markets as
well as general assumptions regarding the economy and competitive
environment in the securities industry, which can be volatile and out of
our control. In particular, we make assumptions about our ability to
complete corporate finance transactions and increase the volume and size of
our securities trading operations, which are difficult or impossible to
predict accurately and often beyond the control of the Company. Therefore,
there can be no assurance that any forward-looking statement will prove to
be accurate.