巴布科克和威尔科克斯新闻

（俄亥俄州巴伯顿- 2019年7月24日）- Babcock & 威尔科克斯 Enterprises, Inc.（“B&W”或“公司”）（纽约证券交易所代码：BW）今天宣布完成其先前宣布的股权化交易，该交易已在公司年会上获得股东批准，并完成了先前宣布的1 / 10反向股票分割。

B&W首席执行官Kenneth Young表示：“这些行动进一步改善了我们的资产负债表，并显示了我们股东的大力支持，因为我们已经度过了公司的扭亏为盈。”“他们还应该允许B&W符合纽约证券交易所的持续上市标准，允许更广泛的机构和个人投资者参与我们的股票所有权。”

Equitization事务

公司于2019年7月23日完成了先前宣布的股权化交易。这些交易包括(i)公司先前宣布的5000万美元配股，该配股根据其条款于2019年7月18日纽约时间下午5点到期；（ii）根据公司信贷协议，将所有3820万美元的未偿还A-1最后期限贷款兑换为1.272亿股普通股；以及（iii）向B. Riley FBR, Inc.的附属实体发行（“B. Riley FBR, Inc.”）。Riley”)的认股权证，以购买约1670万股普通股。

配股的认购人根据其基本认购特权，共购买了约1.259亿股普通股，占约1.667亿股的75.5%。认购供股产生的总收益约为3780万美元。根据B. Riley与公司的担保交换协议条款，B. Riley的附属实体和其他允许的受让人购买了配股中剩余的约4080万股普通股，代表另外1220万美元的价值。根据股权化协议，B&W将A-2和A-3期最后期限贷款的未偿本金减少了约5000万美元，其中包括配股和行使担保交换协议的收益。

总的来说，股权化交易减少了公司未偿还的最后期限贷款约8820万美元。

股票反向拆分

在2019年7月23日营业结束后生效，公司还完成了先前宣布的一比十的反向股票分割。反向股票分割旨在提高公司普通股的每股市场价格，以符合纽约证券交易所关于每股最低价格的持续上市标准。

根据反向股票分割，公司每10股流通股和库存普通股自动转换为1股普通股。由于股票反向拆分，没有发行小额股票。相反，原本有权获得部分股份的股东收到了有关这些部分股份的现金支付（无利息）。

在反向股票分割之后，公司普通股的流通股数量减少了10倍（从约4.628亿股减少到约4630万股）。授权普通股的数量没有受到反向股票分割的影响。向B. Riley附属实体发行的未执行认股权证被调整了10倍，从大约1670万份调整到大约170万份。

公司的普通股将于2019年7月24日在纽约证券交易所开市后以拆分调整后的方式开始交易。交易代码将继续为“BW”，但在反向拆分后，将以新的CUSIP号码05614L209进行交易。

本公司的转让代理Computershare Trust Company， n.a.将作为反向股票分割的交易代理。欲了解更多信息，请联系Computershare Trust Company， N.A，电话：800-446-2617，或在美国和加拿大以外的地区，电话：781-575-2723。

关于黑与白
巴布科克与威尔科克斯公司总部位于俄亥俄州巴伯顿，是一家为电力和工业市场提供能源和环境技术与服务的全球领导者。关注我们的Twitter @Babcock威尔科克斯，并在www.babcock.com了解更多信息。

前瞻性陈述
B&W Enterprises, Inc. (the “Company”) cautions that this release contains forward-looking statements, including, without limitation, statements relating to the intended impact of the transactions described in this release. These forward-looking statements are based on management’s current expectations and involve a number of risks and uncertainties, including, among other things, our ability to continue as a going concern; our ability to obtain and maintain sufficient financing to provide liquidity to meet our business objectives, surety bonds, letters of credit and similar financing; our ability to satisfy requirements under our revolving credit facility as recently amended, if at all; our ability to obtain all stockholder and regulatory approvals for the rights offering, issuance of warrants, reverse stock split and related transactions and proposals; our ability to complete said transactions in a timely manner, if at all; the highly competitive nature of our businesses; general economic and business conditions, including changes in interest rates and currency exchange rates; general developments in the industries in which the Company is involved; cancellations of and adjustments to backlog and the resulting impact from using backlog as an indicator of future earnings; our ability to perform contracts on time and on budget, in accordance with the schedules and terms established by the applicable contracts with customers; failure by third-party subcontractors, joint venture partners or suppliers to perform their obligations on time and as specified; our ability to realize anticipated savings and operational benefits from our restructuring plans, and other cost-savings initiatives; our ability to successfully address productivity and schedule issues in our Vølund and Other Renewable segment, including the ability to complete our European EPC projects within the expected time frame and the estimated costs; our ability to successfully partner with third parties to win and execute contracts within the Vølund and Other Renewable segment; changes in our effective tax rate and tax positions including any limitation on our ability to use our net operating loss carry forwards and other tax assets as a result of “ownership change” under Section 382 of the Internal Revenue Code; our ability to maintain operational support for our information systems against service outages and data corruption, as well as protection against cyber-based network security breaches and theft of data; our ability to protect our intellectual property and renew licenses to use intellectual property of third parties; our use of the percentage-of-completion method to recognize revenue on time; our ability to successfully manage research and development projects and costs, including our efforts to successfully develop and commercialize new technologies and products; the operating risks normally incident to our lines of business, including professional liability, product liability, warranty and other claims against us; changes in, or our failure or inability to comply with, laws and government regulations; actual or anticipated changes in governmental regulation, including trade and tariff policies; difficulties the Company may encounter in obtaining regulatory or other necessary permits or approvals; changes in, and liabilities relating to, existing or future environmental regulatory matters; changes in actuarial assumptions and market fluctuations that affect our net pension liabilities and income; potential violations of the Foreign Corrupt Practices Act; our ability to successfully compete with current and future competitors; the loss of key personnel and the continued availability of qualified personnel; our ability to negotiate and maintain good relationships with labor unions; changes in pension and medical expenses associated with our retirement benefit programs; social, political, competitive and economic situations in foreign countries where the Company does business or seek new business; the possibilities of war, other armed conflicts or terrorist attacks; the willingness of customers and suppliers to continue to do business with us on reasonable terms and conditions; our ability to successfully consummate strategic alternatives for non-core assets, if the Company determines to pursue them; potential volatility in the price of the Company’s common stock following the reverse stock split; and the Company’s ability to attain the necessary stock price levels to regain compliance with the NYSE continued listing standards or, if achieved, to continue to satisfy the NYSE’s qualitative and quantitative continued listing standards in the future. If one or more of these risks or other risks materialize, actual results may vary materially from those expressed. For a more complete discussion of these and other risk factors, see the Company’s filings with the Securities and Exchange Commission, including our most recent annual report on Form 10-K for the year ended December 31, 2018 and our most recent quarterly report on Form 10-Q for the quarterly period ended March 31, 2019. The Company cautions not to place undue reliance on these forward-looking statements, which speak only as of the date of this release, and undertakes no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.