Company: BWNB
Filing Date: 2025-11-05
Form Type: 424B5
Source: 0001104659-25-106685
Chunk: 18

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-11-05
Form: 424B5
Chunk 18
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 execute our business strategy and our ability to make distributions to our stockholders.

You may experience immediate and substantial dilution in the book value per share of the Common Stock you purchase.

Because the price per share
of our Common Stock being offered may be substantially higher than the book value (deficit) per share of our Common Stock, you will experience
immediate and substantial dilution in the net tangible book value of the Common Stock you purchase in this offering. Assuming that an
aggregate of 51,020,408 shares of Common Stock are sold at a price of $3.92 per share, which was the closing sale price of our Common
Stock on the NYSE on November 3, 2025, for aggregate gross proceeds of $200,000,000 in this offering, and after deducting commissions
and estimated aggregate offering expenses payable by us, you will suffer immediate dilution of $(4.59) per share, representing the difference
between the as adjusted net tangible book value per share of Common Stock on September 30, 2025, after giving effect to this offering
and the assumed offering price. For a further description of the dilution that you will experience immediately after this offering, see
the section of this prospectus supplement entitled “Dilution” on page S-29.

Our certificate of incorporation
also authorizes us to issue, without the approval of our shareholders, one or more classes or series of preferred stock having such designation,
powers, preferences and relative, participating, optional and other special rights, including preferences over our Common Stock respecting
dividends and distributions, as our board of directors generally may determine. The terms of one or more classes or series of preferred
stock could dilute the voting power or reduce the value of our Common Stock. For example, we could grant holders of preferred stock the
right to elect some number of our directors in all events or on the happening of specified events or the right to veto specified transactions.
Similarly, the repurchase or redemption rights or liquidation preferences we could assign to holders of preferred stock could affect the
residual value of the Common Stock.

Substantial sales, or the perception of sales, of our Common Stock by us or certain of our existing shareholders could cause our stock price to decline and future issuances may dilute our common shareholders’ ownership in the Company.

Any sales of substantial
amounts of our Common Stock, including as a result of having an “at-the-market” offering program, or the perception that these