Company: BWNB
Filing Date: 2025-11-05
Form Type: 424B5
Source: 0001104659-25-106685
Chunk: 16

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-11-05
Form: 424B5
Chunk 16
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 USA, P.C. (“BDO”),
our independent registered public accounting firm, has not audited, reviewed, examined, compiled, nor applied agreed-upon procedures with
respect to the financial information. Accordingly, BDO does not express an opinion or any other form of assurance with respect thereto.
Complete results as of, and for the three months ended, September 30, 2025 will be included in our Quarterly Report on Form 10-Q for the
fiscal quarter ended September 30, 2025. See the other risks described in this section and “Cautionary Note Regarding Forward-Looking
Statements” for additional information regarding factors that could result in differences between these and the actual financial
results we will report for the fiscal quarter ended September 30, 2025.

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It is not possible to predict the actual number of shares of Common Stock we will sell under the Sales Agreement, or the gross proceeds resulting from those sales.

Subject to certain limitations
in the Sales Agreement and compliance with applicable law, we have the discretion to deliver a placement notice to the designated Agent
at any time throughout the term of the Sales Agreement. The number of shares of Common Stock that are sold through the Agents will fluctuate
based on a number of factors, including the market price of the Common Stock during the sales period, the limits we set with the Agents
in any applicable placement notice, and the demand for our Common Stock during the sales period. Because the price per share of each share
sold will fluctuate during the sales period, it is not possible to predict the number of shares that will be sold or the gross proceeds
we will raise in connection with those sales.

The Common Stock offered hereby will be sold in “at the market offerings” and investors who buy shares at different times will likely pay different prices.

Investors who purchase Common
Stock in this offering at different times will likely pay different prices, and so may experience different levels of dilution and different
outcomes in their investment results. We will have discretion, subject to market demand, to vary the timing, prices, and numbers of shares
sold in this offering. In addition, there is no minimum price of our Common Stock offered hereby and there is no maximum sales price for
shares of Common Stock to be sold in this offering. Investors may experience a decline in the value of shares that they purchase in this
offering as a result of sales made at prices lower than the