Company: BWXT
Filing Date: 2025-11-10
Form Type: 8-K
Source: 0001104659-25-109152
Chunk: 5

Company: BWX Technologies, Inc.
Filing Date: 2025-11-10
Form: 8-K
Item: Item 1.01
Chunk 5
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”)
with affiliates of certain of the initial purchasers and certain other financial institutions (the “ Option Counterparties”).

The Capped Call Transactions
cover, subject to anti-dilution adjustments substantially similar to those applicable to the Notes, the number of shares of Common Stock
initially underlying the Notes. The Capped Call Transactions are expected generally to reduce the potential dilution to the Common Stock
upon any conversion of the Notes and/or offset any potential cash payments the Company is required to make in excess of the principal
amount of converted Notes, as the case may be, with such reduction and/or offset subject to a cap. The cap price of the Capped Call Transactions
will initially be $396.24 per share of Common Stock, which represents a premium of 100% over the last reported sale price of the Common
Stock of $198.12 per share on November 5, 2025, and is subject to certain adjustments under the terms of the Capped Call Transactions.

The Capped Call Transactions
are separate transactions (in each case entered into by the Company with the Option Counterparties), are not part of the terms of the
Notes and will not change the holders’ rights under the Notes. Holders will not have any rights with respect to the Capped Call
Transactions.

The above description of the
Capped Call Transactions is a summary and is not complete. A copy of the Form of Capped Call Confirmation is filed as Exhibit 10.1 to
this Current Report on Form 8-K, and the above summary is qualified by reference to the full text of the Form of Capped Call Confirmation
set forth in such exhibit.

Credit Facility

On November 10, 2025, the
Company entered into a Second Amended and Restated Credit Agreement (the “ New Credit Facility”) with Wells Fargo
Bank, National Association, as administrative agent, and the other lenders party thereto, which amends and restates the Company’s
existing secured credit facility.

The New Credit Facility includes
a $1.25 billion senior secured revolving credit facility. The proceeds of loans under the New Credit Facility are available for working
capital needs, permitted acquisitions and other general corporate purposes. The New Credit Facility is scheduled to mature on November
10, 2030, subject to an early maturity trigger if on any date the aggregate outstanding principal amount of unsecured indebtedness due
within 91 days thereof is in excess of 100% of EBITDA, as defined in the