On October 18, 2010, the Company filed a registration statement with the SEC for a rights offering, the proceeds of which it intends to use to repay its bridge loan facility and subordinated debt and to make certain other payments. The Company entered into the bridge loan on September 24, 2010 in order to repay in full the working capital loans under its senior debt facility. The bridge loan facility matures on March 24, 2011. At September 30, 2010, the Company had $192.5 million in term loans outstanding under its senior debt facility and $19.4 million borrowed under its bridge loan facility. At September 30, 2010, the Company held $10.9 million of cash and equivalents and equity totaled $55.1 million, including $.3 million of noncontrolling interest.
The Company plans to host a conference call on Thursday, November 11, 2010 beginning at 1:00 p.m. (EST) to discuss the results. To participate, please dial (800) 944-8766. The participant code for the call is 13119. Approximately 90 minutes following the call, a phone playback will be available for 30 days by dialing (866) 281-6782. The access code for the replay is 153871.
This release contains certain forward-looking statements within the meaning of the Federal securities laws. Such statements are based on management's current expectations, estimates and projections, which are subject to a wide range of uncertainties and business risks. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of whether, or the times by which, our performance or results may be achieved. Factors that could cause actual results to differ from those anticipated are discussed in
|SOURCE BioFuel Energy Corp.|
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