Company: BWNB
Filing Date: 2025-06-10
Form Type: 424B5
Source: 0001104659-25-058204
Chunk: 33

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-06-10
Form: 424B5
Chunk 33
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may enable our board of directors to render more difficult or to discourage an attempt to obtain control of our company by means of a
tender offer, proxy contest, merger or otherwise, and thereby to protect the continuity of our management. The issuance of shares of
preferred stock may adversely affect the rights of our common stockholders. For example, any preferred stock issued may rank senior to
the common stock as to dividend rights, liquidation preference or both, may have full or limited voting rights and may be convertible
into shares of common stock. As a result, the issuance of shares of preferred stock, or the issuance of rights to purchase shares of
preferred stock, may discourage an unsolicited acquisition proposal or bids for our common stock or may otherwise adversely affect the
market price of our common stock or any existing preferred stock.

7.75% Series A Cumulative Perpetual Preferred Stock

General

Our 7.75% Series A Cumulative
Perpetual Preferred Stock (the “Series A Preferred Stock”) represents a single series of our authorized preferred stock.
We have filed a certificate of designations with respect to the Series A Preferred Stock with the Secretary of the State of Delaware.
The outstanding shares of the Series A Preferred Stock are fully paid and non-assessable.

The number of authorized
shares of the Series A Preferred Stock is 10,401,580. The number of authorized shares of the Series A Preferred Stock may from
time to time be increased (but not in excess of the total number of authorized shares of preferred stock, less all shares of any other
series of preferred stock authorized at the time of such increase) or decreased (but not below the number of shares of the Series A
Preferred Stock then outstanding) by resolution of our board of directors (or a duly authorized committee of our board of directors),
without the vote or consent of the holders of the Series A Preferred Stock. Shares of the Series A Preferred Stock that are
redeemed, repurchased or otherwise acquired by us will be cancelled and shall revert to authorized but unissued shares of preferred stock
undesignated as to series. We have the authority to issue fractional shares of the Series A Preferred Stock.

We reserve the right to re-open
this series and issue additional shares of the Series A Preferred Stock either through public or private sales at any time and from
time to time without notice to or the consent of holders of the Series A Preferred Stock. The additional shares of the Series A
Preferred Stock would be deemed to form a