Company: BWNB
Filing Date: 2025-06-10
Form Type: 424B5
Source: 0001104659-25-058204
Chunk: 18

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-06-10
Form: 424B5
Chunk 18
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 Common Stock available for award under the Company’s Amended and Restated 2015 Long-Term Incentive Plan; |

| · | 3,011,051 shares of Common Stock available for award under the Company’s Amended and Restated 2021 Long-Term Incentive Plan; |

| · | 52,871 shares issuable upon the exercise of outstanding options as of March 31, 2025 with a weighted average exercise price of $57.71; |

| · | 1,778,467 shares issuable upon the vesting of outstanding restricted stock units as of March 31, 2025; and |

| · | 595,000 shares issuable upon the vesting of outstanding performance restricted stock units as of March 31, 2025. |

| S-9 |

The above illustration of
dilution per share to investors participating in this offering assumes no exercise of outstanding options or vesting and settlement of
outstanding restricted stock units. To the extent that any outstanding options are exercised or outstanding restricted stock units are
vested and settled, there will be further dilution to new investors.

| S-10 |

<div align='center'>DIVIDEND POLICY</div>

We have no current intent
to pay a regular dividend, and dividend payments are restricted by our lending agreements. Our board of directors will determine the payment
of future dividends on our Common Stock, if any, and the amount of any dividends in light of applicable law, contractual restrictions
limiting our ability to pay dividends, our earnings and cash flows, our capital requirements, our financial condition, and other factors
our board of directors deems relevant.

| S-11 |

<div align='center'>PLAN OF DISTRIBUTION</div>

The Agents are acting as
our sales agents in connection with the offer and sale of the Common Stock pursuant to this prospectus supplement. Upon written instructions
from us, the designated Agent will use its commercially reasonable efforts consistent with its normal sales and trading practices to sell,
as our sales agent, the Common Stock under the terms and subject to the conditions set forth in the Sales Agreement. We will instruct
the designated Agent as to the amount of shares of Common Stock to be sold by it. We may instruct the Agents not to sell the Common Stock
if the sales cannot be effected at or above the price designated by us in any instruction. We or the Agents may suspend the offering of
shares of Common Stock upon proper notice and subject to other