By Sheri Kasprzak
New York, June 13 - Biofuel Energy Corp. negotiated a private placement for $44.625 million as part of its planned $55.125 million initial public offering.
The placement includes up to 4.25 million shares at $10.50 each. The shares will be sold to affiliates of Greenlight Capital Inc. and Third Point LLC and the company's chairman, Thomas Edelman.
In the IPO, the company intends to sell 5.25 million shares at $10.50 each.
The underwriters for the IPO are JPMorgan; Citigroup; A.G. Edwards; Bear, Stearns & Co., Inc; and Cowen & Co.
Biofuel is an ethanol production company based in Denver.
Issuer: | Biofuel Energy Corp.
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Issue: | Stock
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Amount: | $44.625 million
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Shares | 4.25 million
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Price: | $10.50
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Warrants: | No
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Investors: | Greenlight Capital Inc., Third Point LLC, Thomas Edelman
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Announcement date: | June 13
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