Company: BWXT
Filing Date: 2025-11-10
Form Type: 8-K
Source: 0001104659-25-109152
Chunk: 2

Company: BWX Technologies, Inc.
Filing Date: 2025-11-10
Form: 8-K
Item: Item 1.01
Chunk 2
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 Notes are Freely Tradable (as defined in the Indenture) as of the date the Company sends the related redemption notice
and all accrued and unpaid additional interest, if any, has been paid in full as of the first Special and Additional Interest Payment
Date (as defined in the Indenture) occurring on or before the date the Company sends such notice; and (ii) the Last Reported Sale Price
per share of the Common Stock exceeds 130% of the conversion price on (1) each of at least 20 Trading Days, whether or not consecutive,
during the 30 consecutive Trading Days ending on, and including, the Trading Day immediately before the date the Company sends the related
redemption notice; and (2) the Trading Day immediately before the date the Company sends such notice. In addition, calling any Note for
redemption will constitute a Make-Whole Fundamental Change (as defined in the Indenture) with respect to that Note, in which case the
conversion rate applicable to the conversion of that Note will be increased in certain circumstances if it is converted after it is called
for redemption. Pursuant to the partial redemption limitation, the Company may not elect to redeem less than all of the outstanding Notes
unless at least $100.0 million aggregate principal amount of Notes are outstanding and not subject to redemption as of the time it sends
the related redemption notice.

If certain corporate events
that constitute a Fundamental Change (as defined in the Indenture) occur, then, subject to certain exceptions, noteholders may require
the Company to repurchase their Notes in whole or in part for cash at a price equal to the principal amount of the Notes to be repurchased,
plus accrued and unpaid special interest and additional interest, if any, to, but excluding, the Fundamental Change Repurchase Date (as
defined in the Indenture). The definition of Fundamental Change includes, among other things, certain business combination transactions
involving the Company and certain de-listing events with respect to the Common Stock.

In addition, upon a Make-Whole
Fundamental Change, the Company will, under certain circumstances, increase the applicable conversion rate for a holder that elects to
convert its Notes in connection with such Make-Whole Fundamental Change. No adjustment to the conversion rate will be made if the Stock
Price (as defined in the Indenture) in such Make-Whole Fundamental Change is either less than $198.12 per share or greater than $1,000.00