Company: BWNB
Filing Date: 2025-06-10
Form Type: 424B5
Source: 0001104659-25-058204
Chunk: 67

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-06-10
Form: 424B5
Chunk 67
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 the exercise price set forth in the applicable prospectus supplement the number of shares of
common stock, preferred stock or depositary shares or the principal amount of debt securities being offered. Holders may exercise warrants
at any time up to the close of business on the expiration date set forth in the applicable prospectus supplement. After the close of
business on the expiration date, unexercised warrants are void. Holders may exercise warrants as set forth in the prospectus supplement
relating to the warrants being offered.

Until a holder exercises
the warrants to purchase our common stock, preferred stock, depositary shares or debt securities, the holder will not have any rights
as a holder of our common stock, preferred stock, depositary shares or debt securities, as the case may be, by virtue of ownership of
warrants.

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<div align='center'>Description of Subscription Rights</div>

We may issue to our shareholders subscription
rights to purchase our common stock, preferred stock, depositary shares or debt securities. The following description sets forth certain
general terms and provisions of the subscription rights that we may offer pursuant to this prospectus. The particular terms of the subscription
rights and the extent, if any, to which the general terms and provisions may apply to the subscription rights so offered will be described
in the applicable prospectus supplement.

Subscription rights may be
issued independently or together with any other security offered by this prospectus and may or may not be transferable by the shareholder
receiving the rights in the rights offering. In connection with any rights offering, we may enter into a standby underwriting agreement
with one or more underwriters pursuant to which the underwriter will purchase any securities that remain unsubscribed for upon completion
of the rights offering, or offer these securities to other parties who are not our shareholders. A copy of the form of subscription rights
certificate will be filed with the SEC each time we issue subscription rights, and you should read that document for provisions that
may be important to you. For more information on how you can obtain a copy of any subscription rights certificate, see “Where You
Can Find More Information.”

The applicable prospectus
supplement relating to any subscription rights will describe the terms of the offered subscription rights, including, where applicable,
the following:

| · | the exercise price for the subscription rights; |

| · | the number of subscription rights issued to each shareholder; |

| · | the extent to which the subscription rights are transferable; |

| ·