Company: BWNB
Filing Date: 2025-11-05
Form Type: 424B5
Source: 0001104659-25-106685
Chunk: 74

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-11-05
Form: 424B5
Chunk 74
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 has been duly given, and if on or before the Redemption Date specified in the notice, all funds necessary
for the redemption have been set aside by us, separate and apart from our other funds, in trust for the pro rata benefit of the holders
of the shares called for redemption, so as to be and continue to be available for that purpose, then, in each case unless we default
in payment of the redemption price:

| · | all dividends on the shares                                                                       
 designated for redemption in the notice will cease to accumulate on or after the Redemption Date; |

| · | all rights of the holders                                                                                                         
 of the shares, except the right to receive the redemption price thereof (including all accumulated and unpaid dividends up to the 
 date prior to the Redemption Date), will cease and terminate; and                                                                 |

| · | the shares designated for                                                                 
 redemption in the notice will be deemed to not be outstanding for any purpose whatsoever. |

Any funds held in trust
and unclaimed at the end of two years from the Redemption Date, to the extent permitted by law, shall be released from the trust so established
and may be commingled with our other funds, and after that time the holders of the shares so called for redemption shall look only to
us for payment of the redemption price of such shares.

Notwithstanding any other
provision herein, any declared but unpaid dividends payable on a Redemption Date that occurs subsequent to the applicable record date
for a dividend period shall not be paid to the holder entitled to receive the redemption price on the Redemption Date, but rather shall
be paid to the holder of record of the redeemed shares on such record date relating to the applicable dividend payment date.

Special Optional Redemption

During any period of time
(whether before or after May 7, 2026) that both (i) the Series A Preferred Stock are no longer (a) listed on the
Nasdaq Stock Market (“Nasdaq”), the New York Stock Exchange (the “NYSE”), or the NYSE American, LLC (the “NYSE
AMER”) or (b) listed or quoted on an exchange or quotation system that is a successor to Nasdaq, the NYSE or the NYSE AMER,
and (ii) we are not subject to the reporting requirements of the Exchange Act, but any Series A Preferred Stock is still outstanding
(which we refer to collectively as a “Delisting Event”), we may, at our option, redeem the Series A Preferred Stock,
in whole or in part