SEC FORM 3

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Streisand Eric D

(Last)

(First)

(Middle)

C/O BIOFUEL ENERGY CORP.

1801 BROADWAY, SUITE 1060

(Street)

DENVER

80202

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
06/13/2007

3. Issuer Name and Ticker or Trading Symbol
BioFuel Energy Corp. [ BIOF ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	V.P. - Corporate Development

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Class B Common Stock, par value $0.01 per share	84,587⁽¹⁾⁽²⁾	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Membership Units in BioFuel Energy, LLC	⁽¹⁾⁽²⁾⁽³⁾	⁽³⁾	Common Stock, par value $0.01 per share	84,587	⁽³⁾	D

Explanation of Responses:

1. BioFuel Energy Corp. (the "issuer") is the owner of "A" units in BioFuel Energy, LLC, a Delaware limited liability company (the "LLC"). Immediately prior to the consummation of the offering of up to 6,037,500 shares of the issuer's common stock under a Registration Statement on Form S-1 and a concurrent private placement of 4,250,000 shares to affiliates of Greenlight Capital, Inc. and Third Point LLC, the issuer's two principal stockholders, and Thomas J. Edelman, the Chairman of the issuer, the LLC will amend and restate its LLC agreement to replace various classes of its existing LLC units with a single class. Holders of LLC units will be entitled to pro rata economic benefits in the LLC, but no voting rights in the LLC.

2. In addition, holders of LLC units in the recapitalized LLC (other than the issuer) will receive one share of Class B common stock for each LLC unit held. Shares of Class B common stock will entitle the holder to one vote for each share held of record on all matters on which stockholders generally are entitled to vote. Holders of Class B common stock will not, however, have any economic rights in the issuer because they will not be entitled to any monetary rights, including rights to receive dividends or to receive a distribution upon a dissolution, liquidation or winding up of the issuer. If a holder of Class B common stock exchanges any of its LLC units for shares of common stock, the shares of Class B common stock attributable to the exchanged LLC units will be retired without further action.

3. LLC units are exchangeable at any time on a one-for-one basis for shares of common stock of the issuer. Holders of LLC units who exchange their LLC unit for common stock will have their shares of Class B common stock retired by the issuer without further action. There is no expiration date on the right to exchange LLC units for common stock.

	/s/ David J. Kornder, by Power of Attorney	06/13/2007
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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