Biofuel Energy Revises Down

Biofuel Energy Corp., a Denver-based ethanol producer, has reduced its IPO pricing range from $16-$18 per share, t $13-$14 per share. It still plans to offer 9.5 million common shares. This is the second downward amendment for Biofuel Energy, which originally filed to raise $300 million, then revised its target to $196.65 million. The current figure stands at around $144 million. Biofuel Energy plans to trade on the Nasdaq under ticker symbol BIOF with JPMorgan, Citigroup and A.G. Edwards serving as co-lead underwriters. Shareholders include Greenlight Capital, Third Point Partners and Cargill Inc.