Key Developments For BioFuel Energy Corp.
BioFuel Energy Corp. (BIOF.O) (Consolidated Issue listed on NASDAQ Global Market)
BioFuel Energy Corp. Elects New Chairman
BioFuel Energy Corp. announced that Mark W. Wong, a Director of the Company, had been elected Chairman of the Board. Mr. Wong replaces Thomas J. Edelman.
BioFuel Energy Corp. Appoints New CFO
BioFuel Energy Corp. announced that Kelly G. Maguire would become Vice President Finance and Chief Financial Officer (CFO). Mr. Maguire will replace David J. Kornder in that capacity. Mr. Kornder is resigning to pursue an opportunity to become the Chief Executive of an oil and gas company. Mr. Kornder will remain with the Company through June 30th and has agreed to make himself available thereafter to the extent required and practical.
BioFuel Energy Corp. Announces Stock Repurchase Plan
BioFuel Energy Corp. announced that it has approved a stock repurchase plan. The repurchase of up to $7.5 million of the Company's common stock was authorized. Purchases will be funded out of cash on hand and made from time to time in the open market.
BioFuel Energy Corp. Appoints New Auditor
BioFuel Energy Corp. announced the appointment of Grant Thornton LLP as the Company's new auditor. The appointment of Grant Thornton, an independent registered public accounting firm, was approved by the Company's Audit Committee.
BioFuel Energy Corp. Announces Exercise Of Over-Allotment Option
BioFuel Energy Corp. announced that the underwriters of its recently completed initial public offering had exercised their full over-allotment option, purchasing 787,500 additional shares of common stock. The shares were purchased at the $10.50 per share offering price, resulting in $7.7 million of additional proceeds to the Company.
