Green Brick Partners, Inc. — Director's Dealing 2007

Jun 22, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BioFuel Energy Corp. (BIOF)
CIK: 0001373670
Period of Report: 2007-06-19

Reporting Person: EDELMAN THOMAS J (Director, Chman, Chman of the Bd (Drctr), 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-06-19	Common stock, par value $0.01 per share	P	500000	$10.50	Acquired	500000	Direct

Footnotes

F1: Pursuant to the Purchase Agreement dated June 12, 2007 by and among BioFuel Energy Corp. (the "Company"), Greenlight Capital, L.P., Greenlight Capital Qualified, L.P., Greenlight Capital Offshore, Ltd., Greenlight Reinsurance, Ltd., Third Point Partners LP, Third Point Partners Qualified LP, Third Point Offshore Fund, Ltd., Third Point Ultra Ltd. and Thomas J. Edelman, Mr. Edelman agreed to purchase 500,000 shares of common stock, at a price per share of $10.50, which is equal to the initial public offering price of the Company's common stock, in a private placement transaction. The purchase price for the shares sold to Mr. Edelman was paid directly to the Company concurrently with the closing of the sale of the other shares of common stock offered in the offering.

F2: In addition to the 500,000 shares of common stock purchased by Mr. Edelman in the private placement transaction, Mr. Edelman holds 2,849,370 shares of Class B Common Stock, par value $0.01 per share ("Class B Stock"), of the Company and 2,849,370 LLC membership units ("Units") of BioFuel Energy, LLC (the "LLC") which may be exchanged at any time for common stock of the Company on a one-for-one basis. Mr. Edelman also indirectly holds 294,635 Units and 294,635 shares of Class B Stock through BioFuel Partners, LLC (a member of the LLC), an entity controlled by Mr. Edelman, on behalf of certain other investors. Mr. Edelman's wife, Ingrid O. Edelman, and trusts for the benefit of Mr. Edelman's family members, of which he is a trustee, collectively own approximately 32% of BioFuel Partners, LLC.

F3: Mr. Edelman disclaims beneficial ownership of the 294,635 units and 294,635 shares of Class B Stock, as described in footnote 2 above, except to the extent of any pecuniary interest therein, and the filing of this report is not an admission that Mr. Edelman is the beneficial owner of these Units and shares for the purposes of Section 16 or for any other purpose.