Company: BWNB
Filing Date: 2025-11-05
Form Type: 424B5
Source: 0001104659-25-106685
Chunk: 41

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-11-05
Form: 424B5
Chunk 41
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 amount of the Company’s 6.50% Senior Notes being exchanged for $100.7 million aggregate principal amount of newly-issued 8.75%              
 Senior Notes;                                                                                                                               |
| · | completed a cash tender offer for $8.3 million of our 8.125% Senior Notes and 6.5% Senior Notes for                                         
 a gain of $1.7 million;                                                                                                                     |
| · | exchanged $5.0 million of our 8.125% Senior Notes and $10.0 million of our 6.50% Senior Notes                                               
 for $15.0 million of our 8.75% Senior Notes;                                                                                                |
| · | completed the redemption of $70.0 million of 8.125% Senior Notes;                                                                           |
| · | repaid the outstanding balance on the revolving credit portion of the Credit Facility, leaving $81.1 million                                
 of borrowing power under the facility;                                                                                                      |
| · | signed the Ninth Amendment to the Credit                                                                                                    
 Agreement, which provides that the maturity date of the Credit Agreement remains January 18, 2027, provided that, if, by November           
 30, 2026, the 6.50% Senior Notes have not been repaid, defeased, or otherwise satisfied in full or refinanced, or the maturity date of      
 the 6.50% Senior Notes has not otherwise been extended to a date on or after July 18, 2027, then the maturity date of the Credit Agreement  
 will be November 30, 2026, effectively extending the deadline under the Credit Agreement by which the Company must satisfy the 6.50% Senior 
 Notes from September 30, 2026 to November 30, 2026; and                                                                                     |
| · | are actively in discussions with certain parties to further divest non-core assets. We cannot provide                                       
 any assurances that such transaction will close or that proceeds will not be more or less than we anticipate.                               |

Based on our ability to raise funds through the
actions noted above and our Cash and cash equivalents as of September 30, 2025, we have concluded it is probable that such actions
would provide sufficient liquidity to fund operations for the next twelve months following the date of this Quarterly Reports.

Cash and Cash Flows

At September 30, 2025, our cash and cash
equivalents, and restricted cash totaled $201.1 million, and we had total debt of $