Benzinga | May 3, 2021 04:32PM EDT

Babcock & Wilcox Enterprises Announces Proposed Offering of $50M of Series A Cumulative Perpetual Preferred Stock

Babcock & Wilcox Enterprises, Inc. ("B&W" or the "Company") (NYSE:BW) announced the commencement of an underwritten registered public offering of shares of $50 million aggregate amount of its Series A Cumulative Perpetual Preferred Stock, par value $0.01 per share with a liquidation preference of $25.00 per share (the "Preferred Stock"). B&W expects to grant the underwriters a 30-day option to purchase additional shares of the Preferred Stock in connection with the offering. The dividend rate and certain other terms of the Preferred Stock will be determined at the time of the pricing of the offering. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.