Paulson Investment Company, Inc. Completes Offering for Healthy Fast Foods, Inc.
Paulson Investment Company, Inc., a wholly owned subsidiary of Paulson Capital Corp. (NASDAQ: PLCC), today announced it served as lead manager on the recently completed secondary offering for Healthy Fast Foods, Inc. (HFFI) (HFFIU). The offering which closed on Thursday, October 21, 2010, had gross proceeds of $600,000.
In addition, Paulson has exercised its entire over-allotment option in the amount of 225,000 units. These additional units will close simultaneously with the original offering. This resulted in additional gross proceeds of $90,000, making the total size of the offering $690,000.
The Healthy Fast Food, Inc. offering, including the 225,000 over-allotment units, was 1.725 million units at an offering price of $0.40 per unit, with each unit composed of one share of common stock and one class C warrant. The warrants are exercisable at $0.60 and callable when the stock trades at or above $0.80 for five consecutive trading days.
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