Company: BWNB
Filing Date: 2025-06-10
Form Type: 424B5
Source: 0001104659-25-058204
Chunk: 68

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-06-10
Form: 424B5
Chunk 68
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 | any other terms of the                                                                                                             
 subscription rights, including terms, procedures and limitations relating to the exchange and exercise of the subscription rights; |

| · | the date on which the right to exercise the subscription          
 rights will commence and the date on which the right will expire; |

| · | the extent to which the subscription rights include                         
 an over-subscription privilege with respect to unsubscribed securities; and |

| · | the material terms of any standby underwriting arrangement              
 entered into by us in connection with the subscription rights offering. |

| 29 |

<div align='center'>Description of Debt Securities</div>

The following description sets forth certain general
terms and provisions of the debt securities that we may issue, which may be issued as convertible or exchangeable debt securities. We
will set forth the particular terms of the debt securities we offer in a prospectus supplement and the extent, if any, to which the following
general terms and provisions will apply to particular debt securities.

The debt securities may be
issued under an indenture entered into between us and The Bank of New York Mellon Trust Company, N.A., as trustee on February 12,
2021 (the “2021 Base Indenture”) or another indenture, including the form of indenture filed with the SEC as an exhibit
to the registration statement (the “Form Indenture”). The indenture, and any supplemental indentures thereto,
will be subject to, and governed by, the Trust Indenture Act of 1939, as amended. The following description of general terms and provisions
relating to the debt securities and the indentures under which the debt securities may be issued is a summary only and therefore is not
complete and is subject to, and qualified in its entirety by reference to, the terms and provisions of the indentures. The 2021 Indenture
and the Form Indenture have been filed with the SEC as exhibits to the registration statement, of which this prospectus forms a
part, and you should read the indentures for provisions that may be important to you. For more information on how you can obtain a copy
of the form of the indenture, see “Where You Can Find More Information.”

Capitalized terms used in this section and not
defined herein have the meanings specified in the respective indentures.

Description of the 2021 Base Indenture

General

Unless otherwise specified
in a prospectus supplement, the debt securities will be our direct, unsecured obligations and will