PORTLAND, Ore., July 25, 2005 /PRNewswire-FirstCall via COMTEX/ -- Paulson Investment Company, Inc., a subsidiary of Paulson Capital Corp. (PLCC), successfully completed the initial public offering (IPO) for Paramus, N.J.- based NuVim, Inc. Paulson Investment Company, Inc. was the managing underwriter for 2.7 million units with gross proceeds of $2.7 million. Each unit, priced at $1.00, consisted of one share of common stock, one 'A' warrant and one non-callable 'B' warrant. The units have since split and currently trade on the OTC Bulletin Board; the common shares trade under the symbol NUVM, the 'A' warrants trade as NUVMW and the 'B' warrants as NUVMZ.
"Nutritional beverages are a growth segment of the beverage industry that we track with great interest and we are pleased to take a category leader like NuVim to the public market," said Chester L.F. Paulson, chairman of Paulson Investment Company, Inc. "Their proprietary beverages are unique and have proven popular with consumers."
Paulson Investment Company, Inc. served as lead manager of the $2.7 million IPO for NuVim, Inc. NuVim produces, markets, and distributes nutritional beverages containing two micronutrients derived from cow's milk, known as LactoActin(TM) and LactoMune(TM), which were invented and patented by Stolle Milk Biologics, Inc., a subsidiary of Spencer Trask Specialty Group and one of the company's founders.
By incorporating these micronutrients, NuVim believes they are able to provide consumers with a good tasting beverage choice which provides benefits unlike any other on the market. The beverages are non-dairy, are lactose free and are fortified with vitamins and minerals.
About Paulson Investment Company, Inc.
Paulson Investment Company, Inc., located in Portland, Ore., 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 Chet Paulson in 1970, it has managed or underwritten more than 150 public offerings and has generated more than $1 billion for client companies.
This press release contains forward-looking statements involving risks and uncertainties that may cause actual results to differ materially from those indicated due to a number of factors, including shortages of raw materials, the company's financial condition and cash flow and general economic conditions. The company's plans and objectives are based on assumptions involving judgments with respect to future economic, competitive, regulatory and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the company's control. Therefore, there can be no assurance that the forward- looking statements will prove to be accurate. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise.