In This Article:
Notice Has No Immediate Impact on the Listing or Trading of Babcock & Wilcox Common Stock
AKRON, Ohio, April 10, 2025--(BUSINESS WIRE)--Babcock & Wilcox Enterprises, Inc. ("B&W" or the "Company") (NYSE: BW) announced that on April 4, 2025, the Company received notice from the New York Stock Exchange (the "NYSE") that it was not in compliance with the NYSE’s continued listing standards as a result of the average closing price of the Company’s common stock being less than $1.00 per share over a consecutive 30 trading-day period (the "NYSE Notice").
In accordance with the NYSE listing standards, the Company has a period of six months following receipt of the NYSE Notice to regain compliance with the minimum share price requirement. As required by the NYSE, the Company plans to respond timely to the NYSE that it intends to regain compliance with the minimum share price requirement.
Under the NYSE listing standards, the Company’s common stock will continue to be listed and traded on the NYSE during the cure period, subject to the Company’s compliance with other continued listing requirements. The Company can regain compliance at any time during the cure period if on the last trading day of any calendar month during the cure period, its common stock has a closing share price of at least $1.00 and an average closing share price of at least $1.00 over the 30 trading-day period ending on the last trading day of that month.
The NYSE Notice does not affect the Company’s business operations or its reporting obligations with the U.S. Securities and Exchange Commission, nor does it trigger any violation of its debt obligations.
About B&W
Headquartered in Akron, Ohio, Babcock & Wilcox Enterprises, Inc. is a leader in energy and environmental products and services for power and industrial markets worldwide. Follow us on LinkedIn at www.linkedin.com/company/babcock-&-wilcox and learn more at www.babcock.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical or current fact included in this release are forward-looking statements, including without limitation statements regarding the Company’s plans with respect to the NYSE Notice. You should not place undue reliance on these statements. Forward-looking statements include words such as "expect," "intend," "plan," "likely," "seek," "believe," "project," "forecast," "target," "goal," "potential," "estimate," "may," "might," "will," "would," "should," "could," "can," "have," "due," "anticipate," "assume," "contemplate," "continue" and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operational performance or other events.