UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15 (d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
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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
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| Item 8.01 | Other Events |
As previously disclosed in a Form 8-K filed by Babcock & Wilcox Enterprises, Inc., a Delaware corporation, (the “Company”) with the Securities and Exchange Commission (the “Commission”) on May 7, 2021, on May 7, 2021, the Company closed an underwritten public offering of 4,000,000 shares of the Company’s 7.75% Series A Cumulative Perpetual Preferred Stock (the “Preferred Stock”). The offering was conducted pursuant to an underwriting agreement (the “Underwriting Agreement”), dated May 4, 2021, by and among the Company and B. Riley Securities, Inc., as representative of the several underwriters named in Schedule A thereto (the “Underwriters”). Pursuant to the Underwriting Agreement, the Company granted the Underwriters an option, exercisable for 30 days, to purchase up to 600,000 additional shares of Preferred Stock. On May 24, 2021, the Underwriters exercised the option to purchase 444,700 shares of Preferred Stock, and the issuance of the Preferred Stock was completed on May 26, 2021. The Company received net proceeds of $10,672,800 from the sale of Preferred Stock pursuant to the Underwriters’ option, after deducting underwriting commission and expenses.
The shares of Preferred Stock sold pursuant to the Underwriters’ option were offered under to the Company’s shelf registration statement on Form S-3 (Registration No. 333-255428) initially filed with the Commission on April 22, 2020 and declared effective by the Commission on April 30, 2021. A final prospectus supplement relating to the offering was filed with the Commission on May 6, 2021.
| Item 9.01. | Financial Statements and Exhibits |
(d) Exhibits.
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. | ||
| Date: June 1, 2021 | By: | /s/ Louis Salamone |
| Louis Salamone | ||
| Executive Vice President, Chief Financial Officer and Chief Accounting Officer (Principal Accounting Officer and Duly Authorized Representative) | ||