B&W Announces Record Date for its Common Stock Rights Offering

March 05, 2018

CHARLOTTE, N.C.--(BUSINESS WIRE)-- Babcock & Wilcox Enterprises, Inc. (B&W) (NYSE:BW) announced today that it has fixed March 15, 2018 as the record date for determination of shareholders entitled to participate in B&W’s common stock rights offering (the "Rights Offering"). Each shareholder will receive one right (each, a "Right") for each whole share of common stock held of record as of the record date. The subscription price for all shares of common stock issued pursuant to the Rights Offering will be $3.00 per share. The initial offering materials for the Rights Offering will indicate that the Rights are non-transferable and may not be purchased or sold. Additional terms and conditions of the Rights Offering will be announced and provided in the offering materials.

As previously disclosed, B&W has received a commitment letter from Vintage Capital Management, LLC to backstop the Rights Offering.

The Rights Offering is subject to the effectiveness of a post-effective amendment to B&W’s existing Registration Statement on Form S-3 filed with the Securities and Exchange Commission, which will be filed in the near term. The Registration Statement is not complete and may be changed. Shares of common stock issuable in the Rights Offering may not be sold nor may offers to buy such common stock be accepted prior to the time the amendment to the Registration Statement becomes effective.

The prospectus supplement relating to the Rights Offering and additional materials relating to the Rights Offering will be sent to shareholders after the record date.

The information in this press release is not complete and is subject to change. This press release is not an offer to sell these securities and is not soliciting an offer to buy these securities in any jurisdiction where the offer or sale is not permitted. This press release is not an offering, which can only be made by a prospectus supplement.

About B&W

Headquartered in Charlotte, N.C., Babcock & Wilcox is a global leader in energy and environmental technologies and services for the power and industrial markets, and has been transforming our world for 150 years. Follow us on Twitter @BabcockWilcox and learn more at www.babcock.com.

Source: Babcock & Wilcox Enterprises, Inc.

Babcock & Wilcox

Investor Contact:

Chase Jacobson, 704-625-4944

Vice President, Investor Relations



Media Contact:

Ryan Cornell, 330-860-1345

Public Relations


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