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Babcock & Wilcox Enterprises Announces Agreement to Exchange $73 Million of Secured Term Debt for Preferred Stock

6/3/2021

Exchange to significantly further reduce the Company’s secured debt and net leverage Company has reduced total secured debt by over $347 million in 2021 Strongly positions Company to grow in all segments, including recently launched ClimateBright™ technologies (AKRON, Ohio – June 3, 2021) – Babcock & Wilcox Enterprises, Inc. ("B&W" or the "Company") (NYSE: BW) announced that on June 1, 2021 it entered into an agreement (the “Exchange Agreement”) with B. Riley Financial, Inc. (together with its affiliates, “B. Riley”) pursuant to which the Company (i) issued B. Riley 2,916,880 shares of the Company’s 7.75% Series A Cumulative Perpetual Preferred Stock, par value $0.01 per share and with a liquidation preference of $25.00 per share (the “Preferred Stock”), representing an exchange price of $25.00 per share plus accrued and unpaid dividends from May 7, 2021, and (ii) paid $850,171 in cash to B. Riley for accrued interest due, in exchange for a deemed prepayment of $73,330,152 of the Company’s existing term loans with B. Riley under the Company’s Amended and Restated Credit Agreement (the “Exchange”).
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Babcock & Wilcox Announces ClimateBright™ Decarbonization Technologies Platform to Reduce Global Greenhouse Gas Emissions

5/25/2021

Proven Technology Captures CO2 While Producing Hydrogen Application for Wide Range of Industries (AKRON, Ohio – May 25, 2021) – Babcock & Wilcox ("B&W") (NYSE: BW), a leading innovator in clean energy technologies, announces its ClimateBright™ suite of revolutionary decarbonization technologies designed to help utilities and industry aggressively combat greenhouse gas emissions and climate change. ClimateBright™ technologies further strengthen B&W’s commitment to clean energy progress and to helping customers worldwide address the most significant environmental challenge in industrial processes and energy generation.
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Babcock & Wilcox Enterprises to Present at Jefferies Renewable Energy Conference on May 25, 2021

5/19/2021

(AKRON, Ohio, May 19, 2021) — Babcock & Wilcox Enterprises, Inc. ("B&W") (NYSE: BW) has been invited to present at Jefferies Renewable Energy Conference, which is being held virtually on May 25-27, 2021.
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Babcock & Wilcox Enterprises Reports First Quarter 2021 Results

5/13/2021

Q1 2021 Highlights: Revenues of $168.2 million, a 13.3% improvement compared to first quarter 2020 Net loss of $15.5 million, compared to net loss of $31.5 million in first quarter 2020  Loss per share of $0.22, compared to loss per share of $0.68 in first quarter 2020 Consolidated adjusted EBITDA of $8.5 million, compared to $1.0 million in first quarter 2020 Positive adjusted EBITDA reported by all segments Strong bookings of $169 million Reduced minimum required pension funding contributions by $26 million, in addition to the $107 million reduction previously disclosed (AKRON, Ohio – May 13, 2021) – Babcock & Wilcox Enterprises, Inc. ("B&W" or the "Company") (NYSE: BW) announced results for the first quarter of 2021.
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Babcock & Wilcox Enterprises Announces Closing of $100 Million Offering of Series A Cumulative Perpetual Preferred Stock

5/10/2021

AKRON, Ohio--(BUSINESS WIRE)-- Babcock & Wilcox Enterprises, Inc. ("B&W" or the "Company") (NYSE: BW) announced that on May 7, 2021 it closed an underwritten registered public offering of 4,000,000 shares of its 7.75% Series A Cumulative Perpetual Preferred Stock, par value $0.01 per share with a liquidation preference of $25.00 per share (the “Preferred Stock”), at an offering price of $25.00, for gross proceeds of approximately $100 million before deducting underwriting discounts and commissions and estimated offering expenses payable by the Company.
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