May
19, 2026 - B. Riley Securities,
Inc. ("B. Riley Securities"), a leading full-service investment
bank, is pleased to have served as lead bookrunner to Babcock & Wilcox
Enterprises, Inc. (NYSE: BW) ("BW") in its $230 million equity follow-on
offering.
The offering included
participation from institutional and strategic investors, including Applied
Digital Corporation (NASDAQ: APLD) ("Applied Digital"), which purchased
approximately 540,500 shares at the public offering price.
BW
is a globally focused energy technologies provider with nearly 160 years of
experience providing diversified energy and emissions control solutions. BW's
proven platforms help utilities, data centers, oil and gas, and other
industries meet rising demand, while its comprehensive aftermarket services
keep existing power plants operating efficiently.
The
Company intends to use the net proceeds of the offering to prepay amounts
outstanding under its Credit Agreement and subsequently reborrow such amounts
under its Credit Agreement and use any such reborrowed amounts to fund
project-related capital and working capital needs to influence steam turbine
and boiler production capacity, support growth initiatives, including AI data
center power generation projects and BrightLoopTM technology
commercialization, potential acquisitions of aftermarket or other energy
businesses, strengthen the Company's balance sheet and for general corporate
purposes.
Our
investment banking team included Bryant Riley, Alex Wolodzko, and Joseph Brown.
Our capital markets team included Ryan Aceto, Dawn Farrell, Kathy Innis, and
Bishal Ghosh. Read more about this transaction here.
About B. Riley Securities
B. Riley Securities provides a full suite of investment banking and capital
markets services to corporations, financial sponsors, and institutional
investors across all industry verticals. Services include initial and follow-on
offerings, debt and equity-linked solutions, institutional private placements,
merger and acquisition advisory, corporate restructuring, and liability
management. Widely recognized for its thematic proprietary equity research,
clients benefit from B. Riley Securities' extensive network, industry
expertise, and proven execution capabilities through its end-to-end platform.
For more information, visit www.brileysecurities.com.
Follow us on LinkedIn.