Corporate ActionMay 14, 2026, 05:17 PM
Babcock & Wilcox Announces Proposed $200M Public Stock Offering
AI Summary
Babcock & Wilcox Enterprises, Inc. announced the commencement of a proposed underwritten public offering of its common stock, aiming to raise $200 million. The company expects to grant underwriters a 30-day option to purchase up to an additional 15% of common stock. The net proceeds are intended to prepay existing debt under its Credit Agreement, with reborrowed amounts funding project-related capital, working capital, growth initiatives such as AI data center power generation and BrightLoopTM technology, potential acquisitions, and general corporate purposes.
Key Highlights
- Babcock & Wilcox announced a proposed underwritten public offering of its common stock.
- The offering aims to raise $200 million.
- Underwriters will have a 30-day option to purchase up to an additional 15% of common stock.
- Net proceeds will be used to prepay amounts under its Credit Agreement.
- Reborrowed funds will support project-related capital, working capital, and growth initiatives.
- Growth initiatives include AI data center power generation and BrightLoopTM technology commercialization.
- Proceeds may also fund potential acquisitions of aftermarket or other energy businesses and strengthen the balance sheet.
- B. Riley Securities is serving as the lead book-running manager for the offering.