Energy tech co Babcock & Wilcox drops on $200 mln stock sale

BRC group

15/05/2026 13:17

** Shares of energy technology firm Babcock & Wilcox BW.N down 11.2% in premarket trading to $18.85 after $200 mln follow-on prices

** Co early Fri says it sold ~10.8 mln shares at $18.50

** Offering price represents 12.8% discount to stock's last sale on Thurs. Prior to offering, stock surged 46% this week, putting it up 235% YTD

** Co intends to use net offering proceeds to prepay its credit agreement and to subsequently reborrow to fund working capital needs, support growth initiatives, including AI data center power generation projects, among other purposes

** Akron, Ohio-based BW has ~136.2 mln shares outstanding

** B. Riley lead bookrunner for offering, joined by Craig-Hallum and Lake Street Capital Markets

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))