Company: BWNB
Filing Date: 2025-06-10
Form Type: 424B5
Source: 0001104659-25-058204
Chunk: 48

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-06-10
Form: 424B5
Chunk 48
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 be the form and proportion of the aggregate
consideration elected by the holders of our common stock who participate in the determination (based on the weighted average of elections)
and will be subject to any limitations to which all holders of our common stock are subject, including, without limitation, pro rata
reductions applicable to any portion of the consideration payable in, or in connection with, the Delisting Event or Change of Control,
as applicable.

We will not issue fractional
shares of common stock upon the conversion of the Series A Preferred Stock. In the event that the conversion would result in the
issuance of fractional shares of common stock, we will pay the holder of Series A Preferred Stock the cash value of such fractional
shares in lieu of such fractional shares.

Within 15 days following
the expiration of the Delisting Event Redemption Period or the Change of Control Redemption Period, as applicable, (or, if we waive our
right to redeem the Series A Preferred Stock prior to the expiration of the Delisting Event Redemption Period or the Change of Control
Redemption Period, as applicable, within 15 days following the date of such waiver) we will provide to holders of Series A Preferred
Stock a notice of occurrence of the Delisting Event or Change of Control, as applicable, that describes the resulting Delisting Event
Conversion Right or Change of Control Conversion Right, as applicable. This notice will state the following:

| · | the events constituting                                  
 the Delisting Event or Change of Control, as applicable; |

| · | the date of the Delisting                  
 Event or Change of Control, as applicable; |

| · | the date on which the Delisting                                                                           
 Event Redemption Period or the Change of Control Redemption Period, as applicable, expired or was waived; |

| · | the last date on which                                                                                                      
 the holders of Series A Preferred Stock may exercise their Delisting Event Conversion Right or Change of Control Conversion 
 Right, as applicable;                                                                                                       |

| · | the method and period for                              
 calculating the Common Stock Price (as defined below); |

| · | the “Delisting Event                                                                                                                  
 Conversion Date” or “Change of Control Conversion Date”, as applicable, which will be a business day fixed by our                     
 board of directors that is not fewer than 20 days nor more than 35 days after the date on which we provide the notice described above 
 to the holders of the Series A Preferred Stock;                                                                                       |

| · | if applicable, the type                                                                               
 and amount of