Company: BWNB
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001630805-25-000090
Chunk: 144

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 8
Chunk 144
---
, related to sale-leaseback financing transactions.During the nine months ended September 30, 2025, we received a payment of $5.0 million from the State of West Virginia relating to our BrightLoop™ project which is considered a forgivable loan. The loan will be forgiven in full when certain employment and capital expenditure milestones are met during the course of project.

34

Interest expense in the Condensed Consolidated Financial Statements consisted of the following components:Three Months Ended September 30,Nine Months Ended September 30,(in thousands)2025202420252024Components associated with borrowings from:    Senior Notes due 2026$3,893 $6,407 $15,414 $19,098 Senior Notes due 20302,426 — 3,464 — Revolving Credit Agreement469 678 2,734 3,639 6,788 7,085 21,612 22,737 Components associated with amortization or accretion of:    Revolving Credit Agreement901 1,326 3,987 3,951 Senior Notes due 2026396 653 1,540 1,947 Senior Notes due 2030(1,247)— (1,824)— 50 1,979 3,703 5,898     Components associated with interest from:    Lease liabilities603 580 1,839 1,683 Letter of Credit interest and fees1,309 386 3,201 3,195 Other interest expense391 27 820 524 Capitalized interest(641)— (641)— 1,662 993 5,219 5,402     Total interest expense$8,500 $10,057 $30,534 $34,037 

NOTE 14 – CAPITAL STOCK

Preferred StockDuring the nine months ended September 30, 2025, our Board of Directors approved dividends totaling $11.1 million to holders of the Preferred Stock. There were no cumulative undeclared dividends of the Preferred Stock at September 30, 2025, and all declared dividends have been paid as of September 30, 2025.Common StockOn April 10, 2024, we entered into the Sales Agreement with the Agents, in connection with the offer and sale from time to time of shares of our common stock, having an aggregate offering price of