Latest BioFuel Energy Corp. Stories
DENVER, Nov. 4 /PRNewswire-FirstCall/ -- BIOFUEL ENERGY CORP. (Nasdaq: BIOF) announced today that it received a letter from the Nasdaq Staff on October 28, 2009, informing the Company that it had regained compliance with Listing Rule5450(a)(1), which requires that listed securities maintain a minimum bid price of $1.00 per share. As previously reported, the Staff had informed the Company on September 15, 2009, that its common stock had failed to meet the minimum bid price requirement for...
DENVER, Sept. 18 /PRNewswire-FirstCall/ -- BIOFUEL ENERGY CORP. (Nasdaq: BIOF) announced today that it received a Nasdaq Staff Deficiency Letter on September 15, 2009, indicating that the Company has failed to comply with the minimum bid price requirement for continued listing set forth in Listing Rule 5450(a)(1), which requires that listed securities maintain a minimum bid price of $1.00 per share. The Listing Rules also provide a grace period of 180 calendar days during which, should the...
DENVER, May 28 /PRNewswire-FirstCall/ -- BIOFUEL ENERGY CORP. (Nasdaq: BIOF) announced today that it has received a Notice of Default from its syndicate of lenders, led by BNP Paribas, as Administrative Agent, under its senior bank facility. The Company reported that the banks have asserted that a "Material Adverse Effect" had occurred with respect to the Company, even though it has not missed any payments owed under the facility, or to any other creditors or vendors, and expects to...
DENVER, May 8 /PRNewswire-FirstCall/ -- BIOFUEL ENERGY CORP. (Nasdaq: BIOF) announced today that it notes the recent appreciation in its stock price and confirmed that there have been no material developments at the Company that have not been publicly disclosed. The Company continues to optimize the operation of its facilities and will provide further details with respect to these efforts on its scheduled earnings call on Monday, May 18th, 2009 beginning at 1:00 p.m. (EDT). Contact:...
DENVER, March 19 /PRNewswire-FirstCall/ -- BioFuel Energy Corp. (Nasdaq: BIOF) announced today that Mark W. Wong, a Director of the Company since January 2008, had been elected Chairman of the Board. Mr. Wong currently serves as Chief Executive Officer of Agrivida Inc., a privately held company engaged in the cellulosic ethanol business based in Boston, Massachusetts. Mr. Wong replaces Thomas J. Edelman, who had served as BioFuel's Chairman and Chairman of the Board since its formation....
DENVER, Jan. 16 /PRNewswire-FirstCall/ -- BIOFUEL ENERGY CORP. (Nasdaq: BIOF) announced today that it had finalized agreements with each of its parent company creditors'. The issues arose as a result of hedging losses announced last summer. All outstanding issues with Cargill and the Company's subordinated debt holders have now been resolved. Future payments to Cargill and the subordinated debt holders are contingent on available cash flow, as defined. Following a $3.0 million payment...
DENVER, Dec. 10 /PRNewswire-FirstCall/ -- BIOFUEL ENERGY CORP. (Nasdaq: BIOF) announced today that it had reached agreements in principle with Cargill and the two holders of its subordinated debt. Despite the significant hedging losses incurred and announced in August, the Company's operating subsidiaries have remained financially sound and continued to meet all their obligations. However, the parent company has been unable to make timely payments to Cargill since August and it failed...
DENVER, Sept. 16 /PRNewswire-FirstCall/ -- BioFuel Energy Corp. announced today that both of its 115 million gallons a year ethanol plants had met Provisional Acceptance, the first step in their final commissioning. The plants began production in June and have been undergoing performance testing since then. Provisional Acceptance is the first of three tests required under the Company's turn-key construction contracts with TIC (The Industrial Company). To pass, the plants had to operate...
DENVER, Aug. 29 /PRNewswire-FirstCall/ -- BIOFUEL ENERGY CORP. -- BioFuel Energy Corp. announced today that its operating subsidiaries, which own and operate the Wood River and Fairmont ethanol plants, had amended their credit agreement. The amendment permits the subsidiaries' full access to their $20 million working capital facility and permits daily access to their revenue account, in each case solely for the purchase of corn, natural gas, chemicals, enzymes, denaturant and electricity....
DENVER, Aug. 12 /PRNewswire-FirstCall/ -- BIOFUEL ENERGY CORP. announced that as of the close of business yesterday, it had realized approximately $26.1 million of losses resulting from closing out various corn, ethanol and natural gas hedges. Based on current commodity prices, the Company also had approximately a further $19.9 million of unrealized mark-to-market losses under hedging agreements (for further details, see the attached table). The Company currently does not have sufficient...
