Company: BWNB
Filing Date: 2025-11-05
Form Type: 424B5
Source: 0001104659-25-106685
Chunk: 1

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-11-05
Form: 424B5
Chunk 1
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. There is no arrangement to place proceeds of the offering in escrow, trust or similar arrangement. We have engaged Lake Street to act as a “qualified independent underwriter”
in this offering, See “Plan of Distribution (Conflicts of Interest).”

Investing in our securities involves a high degree of risk, and you should read this prospectus supplement, the accompanying prospectus and the documents incorporated by reference herein before you make your investment decision. Before investing in our securities, you should carefully consider the risk factors described in the section titled “Risk Factors” beginning on page S-9 of this prospectus supplement as well as the risks identified in our most recent Annual Report on Form 10-K, our Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2025, and any other filings we make with the Securities and Exchange Commission (the “SEC”) from time to time, which are incorporated by reference into this prospectus supplement.

Neither the SEC nor any state securities commission has approved or disapproved of these securities or determined if this prospectus supplement or the accompanying prospectus is truthful or complete. Any representation to the contrary is a criminal offense.

<div align='center'>B. Riley

Lake Street

The date of this prospectus supplement is November
5, 2025.

TABLE OF CONTENTS

Prospectus Supplement</div>

|                                                                                       | Page |
| ABOUT THIS PROSPECTUS SUPPLEMENT                                                      | S-ii |
| CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS                                  | S-ii |
| PROSPECTUS SUPPLEMENT SUMMARY                                                         | S-4  |
| THE OFFERING                                                                          | S-7  |
| RISK FACTORS                                                                          | S-9  |
| MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS | S-14 |
| USE OF PROCEEDS                                                                       | S-28 |
| DILUTION                                                                              | S-29 |
| DIVIDEND POLICY                                                                       | S-30 |
| PLAN OF DISTRIBUTION                                                                  | S-31 |
| LEGAL MATTERS                                                                         | S-33 |
| EXPERTS                                                                               | S-33 |
| INFORMATION INCORPORATED BY REFERENCE                                                 | S-33 |
| WHERE YOU CAN FIND MORE INFORMATION                                                   | S-34 |

<div align='center'>Prospectus</div>

|                                                 | Page |
| About This Prospectus                           |    1 |
| Where You Can Find More Information             |