Company: BWNB
Filing Date: 2025-06-10
Form Type: 424B5
Source: 0001104659-25-058204
Chunk: 50

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-06-10
Form: 424B5
Chunk 50
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 date on which such Change of Control occurred as reported on the principal U.S. securities exchange on which our common stock is
then traded, or (y) the average of the last quoted bid prices for our common stock in the over-the-counter market as reported by
OTC Markets Group Inc. or similar organization for the ten consecutive trading days immediately preceding, but not including, the date
on which such Change of Control occurred, if our common stock is not then listed for trading on a U.S. securities exchange.

The “Common Stock
Price” for any Delisting Event will be the average of the closing price per share of our common stock on the 10 consecutive trading
days immediately preceding, but not including, the effective date of the Delisting Event.

Holders of the Series A
Preferred Stock may withdraw any notice of exercise of a Delisting Event Conversion Right or Change of Control Conversion Right, as applicable
(in whole or in part), by a written notice of withdrawal delivered to our transfer agent prior to the close of business on the third
business day preceding to the Delisting Event Conversion Date or Change of Control Conversion Date, as applicable. The notice of withdrawal
must state:

| · | the number of withdrawn             
 shares of Series A Preferred Stock; |

| · | if certificated shares                                                                                                         
 of Series A Preferred Stock have been issued, the receipt or certificate numbers of the withdrawn shares of Series A Preferred 
 Stock; and                                                                                                                     |

| · | the number of shares of                                                          
 Series A Preferred Stock, if any, which remain subject to the conversion notice. |

Notwithstanding the foregoing, if the shares
of Series A Preferred Stock are held in global form, the conversion notice and/or the notice of withdrawal, as applicable, must
comply with applicable procedures of DTC.

Shares of Series A Preferred
Stock as to which the Delisting Event Conversion Right or Change of Control Conversion Right, as applicable, has been properly exercised
and for which the conversion notice has not been properly withdrawn will be converted into the applicable Conversion Consideration in
accordance with the Delisting Event Conversion Right or Change of Control Conversion Right, as applicable, on the Delisting Event Conversion
Date or Change of Control Conversion Date, as applicable, unless prior to the Delisting Event Conversion Date or Change of Control Conversion
Date, as applicable, we have provided or provide notice of our election to redeem such shares of Series A Preferred Stock, whether
pursuant to our optional redemption right or our special