Company: BWNB
Filing Date: 2025-11-05
Form Type: 424B5
Source: 0001104659-25-106685
Chunk: 88

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-11-05
Form: 424B5
Chunk 88
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restrictions described above also do not apply to specific business combinations proposed by an interested stockholder following the
announcement or notification of designated extraordinary transactions involving the corporation and a person who had not been an interested
stockholder during the previous three years or who became an interested stockholder with the approval of a majority of the corporation’s
directors, if a majority of the directors who were directors prior to any person’s becoming an interested stockholder during the
previous three years, or were recommended for election or elected to succeed those directors by a majority of those directors, approve
or do not oppose that extraordinary transaction.

Anti-Takeover Effects of Provisions of our Certificate of Incorporation and Bylaws

Some of the provisions of
our certificate of incorporation and bylaws discussed below may have the effect, either alone or in combination with Section 203
of the General Corporation Law of the State of Delaware, of making more difficult or discouraging a tender offer, proxy contest, merger
or other takeover attempt that our board of directors opposes but that a stockholder might consider to be in its best interest. These
provisions could also have the effect of increasing the bargaining leverage of our board of directors, on behalf of our stockholders,
in any future negotiations concerning a potential change of control of our company. Our board of directors has observed that certain
tactics that bidders employ in making unsolicited bids for control of a corporation, including hostile tender offers and proxy contests,
have become relatively common in modern takeover practice. Our board of directors considers those tactics to be disruptive and potentially
contrary to the overall best interests of our stockholders. In particular, bidders may use these tactics in conjunction with an attempt
to acquire a corporation at an unfairly low price. In some cases, a bidder will make an offer for less than all the outstanding capital
stock of the target company, potentially leaving stockholders with the alternatives of partially liquidating their investment at a time
that may be disadvantageous to them or retaining an investment in the target company under substantially different management with objectives
that may not be the same as the new controlling stockholder. The concentration of control in our company that could result from such
an offer could deprive our remaining stockholders of the benefits of listing on the New York Stock Exchange and public reporting under
the Exchange Act.

While our board of directors
does not intend to foreclose or discourage reasonable merger or acquisition proposals, it believes that value for our stockholders can
be enhanced by encouraging would-be ac