Company: BWNB
Filing Date: 2025-11-05
Form Type: 424B5
Source: 0001104659-25-106685
Chunk: 73

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-11-05
Form: 424B5
Chunk 73
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 or Change of Control, as applicable, and each share of Series A Preferred        
 Stock tendered for conversion that is selected, prior to the Delisting Event Conversion Date or Change of Control Conversion Date,      
 as applicable, for redemption will be redeemed on the related date of redemption instead of converted on the Delisting Event Conversion 
 Date or Change of Control Conversion Date, as applicable; and                                                                           |

| · | that dividends on such                                                                                
 shares of Series A Preferred Stock will cease to accumulate on the date prior to the Redemption Date. |

If fewer than all of the
outstanding shares of Series A Preferred Stock are to be redeemed, the shares to be redeemed will be determined pro rata (as nearly
as practicable without creating fractional shares) or by lot. So long as all shares of Series A Preferred Stock are held of record
by the nominee of DTC, we will give notice, or cause notice to be given, to DTC of the number of Series A Preferred Stock to be
redeemed, and DTC will determine the number of Series A Preferred Stock to be redeemed from the account of each of its participants
holding such shares in its participant account. Thereafter, each participant will select the number of shares to be redeemed from each
beneficial owner for whom it acts (including the participant, to the extent it holds Series A Preferred Stock for its own account).
A participant may determine to redeem Series A Preferred Stock from some beneficial owners (including the participant itself) without
redeeming Series A Preferred Stock from the accounts of other beneficial owners. Subject to the provisions hereof, our board of
directors (or a duly authorized committee of our board of directors) shall have full power and authority to prescribe the terms and conditions
on which shares of Series A Preferred Stock shall be redeemed from time to time. If we shall have issued certificates for the Series A
Preferred Stock and fewer than all shares represented by any certificates are redeemed, new certificates shall be issued representing
the unredeemed shares without charge to the holders thereof.

| 14 |

On or after the Redemption
Date, each holder of Series A Preferred Stock to be redeemed that holds a certificate other than through DTC book entry described
below must present and surrender the certificates evidencing the shares of Series A Preferred Stock at the place designated in the
notice of redemption and shall be entitled to the redemption price and any accumulated and unpaid dividends payable upon the redemption
following the surrender.

From and after the Redemption
Date or, if notice of redemption