Company: BWNB
Filing Date: 2025-11-05
Form Type: 424B5
Source: 0001104659-25-106685
Chunk: 79

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-11-05
Form: 424B5
Chunk 79
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 or Change of Control Conversion 
 Right, as applicable; and                                                                                                        |

| 17 |

| · | the last date on which                                                                                                       
 holders of Series A Preferred Stock may withdraw shares surrendered for conversion and the procedures that such holders must 
 follow to effect such a withdrawal.                                                                                          |

We will issue a press release
for publication on the Dow Jones & Company, Inc., Business Wire, PR Newswire or Bloomberg Business News (or, if these organizations
are not in existence at the time of issuance of the press release, such other news or press organization as is reasonably calculated
to broadly disseminate the relevant information to the public), or post notice on our website, in any event prior to the opening of business
on the first business day following any date on which we provide the notice described above to the holders of Series A Preferred
Stock.

To exercise the Delisting
Event Conversion Right or Change of Control Conversion Right, as applicable, each holder of Series A Preferred Stock will be required,
on or before the close of business on the business day preceding the Delisting Event Conversion Date or Change of Control Conversion
Date, as applicable, to notify us of the number of Series A Preferred Stock to be converted and otherwise to comply with any applicable
procedures contained in the notice described above or otherwise required by the transfer agent or DTC for effecting the conversion.

The “Common Stock
Price” for any Change of Control will be: (1) if the consideration to be received in the Change of Control by the holders
of our common stock is solely cash, the amount of cash consideration per share of common stock; and (2) if the consideration to
be received in the Change of Control by holders of our common stock is other than solely cash (x) the average of the closing prices
for our common stock on the principal U.S. securities exchange on which our common stock is then traded (or, if no closing sale price
is reported, the average of the closing bid and ask prices per share or, if more than one in either case, the average of the average
closing bid and the average closing ask prices per share) for the ten consecutive trading days immediately preceding, but not including,
the date on which such Change of Control occurred as reported on the principal U.S. securities exchange on which our common stock is
then traded, or (y) the average of the last quoted bid prices for our common stock in the over-the-counter market as reported by
OTC Markets Group Inc.