Company: BWNB
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001630805-25-000062
Chunk: 95

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 4
Chunk 95
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 fiscal year 2024 filed with the SEC on March 31, 2024. The Seventh Amendment provides that the maturity date of the Credit Agreement remains January 18, 2027, provided that (i) by November 28, 2025, the 8.125% Senior Notes have not been repaid, defeased, or otherwise satisfied in full or refinanced and (ii) by September 30, 2026, the 6.50% Senior Notes have not been repaid, defeased, or otherwise satisfied in full or refinanced, or the maturity date has not otherwise been extended to a date on or after July 18, 2027, then September 30, 2026.

In May 2025, we completed privately negotiated exchange transactions related to our 6.50% Senior Notes and 8.125% Senior Notes (together, the "2026 Notes") in which we issued 8.75% Senior Notes as consideration of the cancellation of some of our 2026 Notes. In June 2025, we commenced a cash tender offer for the remaining 2026 Notes that we have outstanding. 

Although we have amended the terms of and refinanced our debt in the past, there can be no assurance that our efforts to improve our financial position will be successful or that we will be able to obtain additional capital or refinance any of our debt in the future on commercially reasonable terms or at all. If we are unable to do so on commercially reasonable terms or at all, it may materially and adversely affect our reputation, liquidity, business, financial condition or results of operations, we may breach our obligations under such debt and it may be necessary for us to reorganize, including through bankruptcy proceedings.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

In accordance with the provisions of the employee benefit plans, we acquire shares in connection with the vesting of employee restricted stock that require us to withhold shares to satisfy employee statutory income tax withholding obligations. During the quarter ended June 30, 2025, we did not have any repurchases of shares related to employee restricted stock plans. Also, we do not have a general share repurchase program at this time.