PORTLAND, Ore., Dec. 2, 2011 (GLOBE NEWSWIRE) -- 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 initial public offering for Vanguard Energy Corporation.
The offering consisted of 4,800,000 Units priced at $1.00 per Unit. Each Unit consists of one share of common stock and one five-year warrant to purchase a share of common stock at a price of $1.50. Following this offering, Vanguard has 12,665,822 shares of common stock outstanding. On November 29, 2011, the Units began trading under the symbol "VNGEU" on the Over-The-Counter Bulletin Board (OTCBB) and will trade as a Unit for a minimum of 30 days and a maximum of 45 days, unless Paulson Investment Company determines that an earlier split date is acceptable. Once the Units split, the common shares will trade under the symbol "VNGE" and the warrants will trade under the symbol "VNGEW" also on the OTCBB. Paulson Investment, Inc. has a 30-day option to purchase up to an additional 720,000 Units to cover over-allotments.
A copy of the prospectus relating to the IPO may be obtained from the offices of the underwriter Paulson Investment Company, Inc. In addition, the final prospectus is on file with the SEC and is available at the following link:
http://www.sec.gov/Archives/edgar/data/1497649/000104746911009797/a2206365z424b4.htm">http://www.sec.gov/Archives/edgar/data/1497649/000104746911009797/a2206365z424b4.htm.
About Paulson Investment Company, Inc.
Paulson Capital Corp. is the parent company to Paulson Investment Company, Inc. Based in Portland, Ore., Paulson Investment Company, Inc. is one of the largest independent brokerage firms headquartered in the northwest 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 approximately 170 securities offerings and has generated more than $1.2 billion for client companies., Paulson Investment Company, Inc. (member FINRA/SIPC) 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. The company's website is available at www.paulsoninvestment.com.