BioFuel Energy: Listing Compliance From Nasdaq
BioFuel Energy Corp.announced 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 continued listing over the previous 30 days as required under the Listing Rule. Since that time, the closing bid price for the Company's common stock has been at $1.00 or greater for at least 10 consecutive business days, bringing the Company back into compliance. As a result, the Company expects to continue to list its shares on the Nasdaq Global Market so long as its common stock continues to meet the minimum bid price requirement. The Company's stock closed at $1.20 per share in yesterday's trading.
Contact: Kelly G. Maguire
Vice President - Finance and
Chief Financial Officer