Babcock & Wilcox Enterprises Inc. (NYSE: BW) priced an underwritten public offering of 10,810,811 shares of common stock at $18.50 per share, generating gross proceeds of approximately $200 million before underwriting costs and expenses.

The company granted underwriters a 30-day option to purchase up to an additional 15% of the shares offered at the public offering price, less underwriting discounts and commissions. The offering is expected to close on May 18, 2026, subject to customary closing conditions.

The Akron, Ohio-based energy and environmental products company plans to use net proceeds to prepay amounts under its credit agreement and subsequently reborrow to fund project-related capital and working capital needs. The funds will support steam turbine and boiler production capacity, growth initiatives including AI data center power generation projects and BrightLoop technology commercialization, potential acquisitions, and general corporate purposes.

B. Riley Securities serves as lead book-running manager for the offering, with Craig-Hallum and Lake Street Capital Markets acting as joint book-running managers. Northland Capital Markets is the co-manager.

The shares were offered under the company's shelf registration statement on Form S-3, which the Securities and Exchange Commission declared effective on April 8, 2025.