Company: BWNB
Filing Date: 2025-11-04
Form Type: 8-K
Source: 0001104659-25-106447
Chunk: 1

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-11-04
Form: 8-K
Item: Item 2.02
Chunk 1
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Item 2.02 Results of Operations and Financial Condition.

On November 4, 2025, the Company issued a press
release announcing its financial results for the quarter ended September 30, 2025. A copy of the press release is attached as Exhibit
99.1, and the information contained in Exhibit 99.1 is incorporated herein by reference.

This selected consolidated financial data has been prepared by, and
is the responsibility of, our management. Our independent registered public accounting firm, BDO USA, P. C. (“ BDO”), has not
audited, reviewed, examined, compiled, nor applied agreed-upon procedures with respect to the preliminary financial information. Accordingly,
BDO does not express an opinion or any other form of assurance with respect thereto. Complete results as of and for the three and ninth
months ended September 30, 2025 will be included in our Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2025.

Item 3.02 Unregistered Sales of Equity
Securities.

On November 4, 2025, in connection with the entry into the limited
notice to proceed (“ LNTP”), as described further in Item 8.01 to this Current Report on Form 8-K, the Company issued to Applied
Digital Corporate (“ Applied Digital”), in a private placement, (i) 500,000 shares of common stock, par value $0.01 per share
(the “ Common Stock”) for a purchase price of $2,057,000 and (ii) a warrant (the “ Initial Warrant”) exercisable
to purchase 2,600,000 shares of Common Stock (the “ Initial Warrant Shares”) at an exercise price of $4.11, subject to adjustment
in accordance with the terms and conditions set forth in the Initial Warrant. In addition, the Company agreed to file a resale registration
statement with the U. S. Securities and Exchange Commission to register the resale of the Common Stock and the Initial Warrant Shares pursuant
to a Registration Rights Agreement, dated November 4, 2025, between the Company and Applied Digital (the “ Registration Rights Agreement”).
The Initial Warrant and the Registration Rights Agreement were executed pursuant to a Letter Agreement, dated November 4, 2025, between
the Company and Applied Digital (the “ Letter Agreement”).

Pursuant to the Letter Agreement, upon the execution of the Definitive
Agreement and full authorization