SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 29, 2012
PAULSON CAPITAL CORP.
(Exact name of registrant as specified in its charter)
Commission File Number: 000-18188
| Oregon | 93-0589534 |
(State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) |
| 811 S.W. Naito Parkway, Portland, Oregon | 97204 |
| (Address of principal executive offices) | (Zip Code) |
Registrant’s telephone number, including area code: 503-243-6000 |
| |
Former name or former address if changed since last report: no change |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
On February 29, 2012, Paulson Investment Company, Inc. ("PIC"), the operating subsidiary of Paulson Capital Corp. (the "Registrant"), issued a press release announcing that an agreement in principle has been reached among it, the Registrant and JHS Capital Advisors, Inc. ("JHS"), regarding the contemplated sale of PIC's retail brokerage business to JHS. The completion of the transaction is subject to final documentation in form acceptable to all parties and the approval of the Financial Industry Regulatory Authority.
The full text of the press release is included as Exhibit 99.1 to this Current Report.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
The following exhibit is filed herewith:
| | 99.1 | Paulson Investment Company Inc. press release dated February 29, 2012. |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: February 29, 2012 | PAULSON CAPITAL CORP. | |
| | | | |
| | By: | /s/ Chester L. F. Paulson | |
| | Chester L. F. Paulson | |
| | President and Chief Executive Officer | |
EXHIBIT INDEX
| Exhibit No. Under Regulation S-K, Item 601 | | Description |
| 99.1 | | Paulson Investment Company Inc. press release dated February 29, 2012 |
