[8-K] Babcock & Wilcox Enterprises, Inc. Reports Material Event

Rhea-AI Filing Summary

Babcock & Wilcox Enterprises entered a sales agreement for an at‑the‑market offering of its common stock, allowing sales from time to time of up to $200,000,000 through B. Riley Securities and Lake Street Capital Markets as agents.

Sales will be made pursuant to the company’s effective Form S‑3 shelf registration. The agents will use commercially reasonable efforts and earn a 3.0% commission on gross proceeds from each sale. There is no minimum offering amount, so total proceeds will depend on actual shares sold and will be received by the company net of commissions and transaction fees.

A prospectus supplement for this ATM program has been filed, and the sales agreement includes customary representations, covenants, indemnification, and termination provisions.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15 (d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November 4, 2025

BABCOCK & WILCOX ENTERPRISES, INC.

(Exact name of registrant as specified in its charter)

Delaware		001-36876		47-2783641
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

1200 EAST MARKET STREET, SUITE 650 AKRON, OHIO		44305
(Address of principal executive offices)		(Zip Code)

Registrant’s Telephone Number, including Area Code: (330) 753-4511

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨		Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨		Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class		Trading Symbol		Name of Each Exchange on which Registered
Common stock, $0.01 par value per share		BW		New York Stock Exchange
8.125% Senior Notes due 2026		BWSN		New York Stock Exchange
6.50% Senior Notes due 2026		BWNB		New York Stock Exchange
7.75% Series A Cumulative Perpetual Preferred Stock		BW PRA		New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company  ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ¨

Item 1.01 Entry into a Material Definitive Agreement

On November 4, 2025, Babcock & Wilcox Enterprises, Inc. (the “Company”) entered into a sales agreement (the “Sales Agreement”) with B. Riley Securities, Inc. and Lake Street Capital Markets, LLC Group LLC (collectively, the “Agents”), in connection with the offer and sale from time to time by the Company of shares of the Company’s common stock, having an aggregate offering price of up to $200,000,000 (the “Shares”) through the Agents. Any Shares to be offered and sold under the Sales Agreement will be issued and sold pursuant to the Company’s previously filed and currently effective registration statement on Form S-3 (File No. 333-283368) initially filed with the Securities and Exchange Commission (the “Commission”) on November 21, 2024 and declared effective by the Commission on April 8, 2025. A prospectus supplement relating to the offering of the Shares was filed with the Commission on November 5, 2025.

The Shares may be offered and sold through the Agents over a period of time and from time to time by any method that is deemed to be an “at the market offering” as defined in Rule 415 promulgated under the Securities Act of 1933, as amended (the “Securities Act”). The Agents are not required to sell any specific aggregate principal amount of the Shares but will act as the Company’s sales agents using commercially reasonable efforts consistent with their normal trading and sales practices, on mutually agreed terms between the Agents and the Company. Under the Sales Agreement, the designated Agent will be entitled to compensation equal to 3.0% of the gross proceeds from each sale of the Shares. The amount of net proceeds the Company will receive from this offering, if any, will depend upon the actual aggregate principal amount of the Shares sold, after deduction of the Agents’ commission and any transaction fees. Because there is no minimum offering amount required as a condition to close this offering, the actual total public offering amount, commissions and net proceeds to us, if any, are not determinable at this time.

The Sales Agreement contains customary representations, warranties and covenants of the Company, indemnification obligations of the Company and the Agents, including for liabilities under the Securities Act, other obligations of the parties and termination provisions.

The provisions of the Sales Agreement, including the representations and warranties contained therein, are not for the benefit of any party other than the parties to such agreement and are not intended as documents for investors and the public to obtain factual information about the current state of affairs of the parties to those documents and agreements. Rather, investors and the public should look to other disclosures contained in the Company’s filings with the Commission.

The foregoing description of the material terms of the Sales Agreement is subject to, and qualified in its entirety by reference to, the full text of the Sales Agreement, a copy of which is attached hereto as Exhibit 1.1 and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits

(d) Exhibits.

Exhibit No.		Description
1.1		Sales Agreement, among Babcock & Wilcox Enterprises, Inc., B. Riley Securities, Inc. and Lake Street Capital Markets, LLC, dated November 4, 2025.
5.1		Opinion of O’Melveny & Myers LLP
23.1		Consent of O’Melveny & Myers LLP (included in Exhibit 5.1)
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

Signatures

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	BABCOCK & WILCOX ENTERPRISES, INC.
November 5, 2025	By:	/s/ Cameron Frymyer
		Cameron Frymyer
		Executive Vice President and Chief Financial Officer
		(Principal Accounting Officer and Duly Authorized Representative)

FAQ

What did BW (Babcock & Wilcox) announce in this filing?

BW established an at‑the‑market offering to sell up to $200,000,000 of common stock through designated agents.

Who are the sales agents for BW’s $200 million ATM program?

The agents are B. Riley Securities, Inc. and Lake Street Capital Markets, LLC.

What commission will the agents receive under BW’s ATM?

Agents are entitled to 3.0% of the gross proceeds from each sale.

Will BW receive proceeds from the ATM sales?

Yes. BW will receive net proceeds after deducting the agents’ commission and any transaction fees.

Is there a minimum amount BW must sell under the ATM?

No. There is no minimum offering amount; actual proceeds depend on the shares sold.

Under what registration is BW’s ATM being conducted?

Sales are made under BW’s effective Form S‑3 (File No. 333-283368).

What security may be sold in BW’s ATM program?

Shares of BW’s common stock may be sold from time to time.