Company: BWNB
Filing Date: 2025-11-05
Form Type: 424B5
Source: 0001104659-25-106685
Chunk: 83

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-11-05
Form: 424B5
Chunk 83
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 vacancy in the office of a preferred stock director
may be taken only at a special meeting called at the request of the holders of record of at least 20% of the Series A Preferred
Stock or of any other series of voting preferred stock (unless such request is received less than 90 days before the date fixed for the
next annual or special meeting of the stockholders, in which event such election shall be held at such next annual or special meeting
of stockholders). The preferred stock directors shall each be entitled to one vote per director on any matter.

If and when all accumulated
dividends on the Series A Preferred Stock for all past completed dividend periods shall have been paid in full, holders of shares
of Series A Preferred Stock shall be divested of the voting rights set forth above (subject to re-vesting in the event of each and
every subsequent nonpayment) and, unless outstanding shares of voting preferred stock remain entitled to vote in the election of preferred
stock directors, the term of office of such preferred stock directors so elected will terminate and the number of directors will be reduced
accordingly.

Other Voting Rights

In addition, so long as
any shares of Series A Preferred Stock remain outstanding, we will not, without the consent or the affirmative vote of the holders
of at least two-thirds of the outstanding shares of Series A Preferred Stock and each other class or series of preferred stock entitled
to vote thereon (voting together as a single class), given in person or by proxy, either in writing without a meeting or by vote at any
meeting called for the purpose:

| · | authorize, create or issue,                                                                                                             
 or increase the number of authorized or issued number of shares of, any class or series of capital stock ranking senior to the Series A 
 Preferred Stock with respect to payment of dividends or the distribution of assets upon our liquidation, dissolution or winding up,     
 or reclassify any of our authorized capital stock into any such shares, or create, authorize or issue any obligation or security        
 convertible into or evidencing the right to purchase any such shares; or                                                                |

| · | amend, alter or repeal                                                                                                               
 the provisions of our restated certificate of incorporation, as amended, including the terms of the Series A Preferred Stock,        
 whether by merger, consolidation, transfer or conveyance of all or substantially all of our assets or otherwise, so as to materially 
 and adversely affect the rights, preferences, privileges or voting powers of the Series A Preferred Stock, taken