NEW YORK (TheStreet) -- Shares of BioFuel Energy Corp. (BIOF) are up 1.21% to $6.70 after it said the Nasdaq Listings Qualifications Panel issued it a favorable decision and said the ethanol producer can continue to list on the Nasdaq Capital Market provided it completes its acquisition with JBGL Builder Finance LLC, on or before November 4.

The Panel's determination follows the company's hearing on June 12, at which the Panel considered its appeal of the determination by the Nasdaq Listing Qualifications Staff to delist the company's securities.

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