BioFuel gets $59.9 million, may raise $70 million, in rights offering

Investors included Third Point, for about $9.3 million, and Greenlight

By Devika Patel

Knoxville, Tenn., Oct. 20 – BioFuel Energy Corp. raised about $59.9 million through a rights offering on Oct. 17, according to an 8-K filed Monday with the Securities and Exchange Commission. It expects to raise a total of about $70 million in this sale.

Approximately 49.1% of the over-subscription rights were exercised.

Third Point LLC invested about $9.3 million. Greenlight Capital, Inc. also participated.

BioFuel is a Denver-based producer and seller of ethanol and its co-products.

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