Babcock & Wilcox Enterprises Inc.

Effective after the close of business on July 23, 2019, the company also completed its previously announced one-for-ten reverse stock split. The reverse stock split was intended to increase the market price per share of the company’s common stock in order to comply with the NYSE’s continued listing standards relating to minimum price per share.

Pursuant to the reverse stock split, every 10 shares of the company’s outstanding and treasury common stock was automatically converted into one share of common stock. No fractional shares were issued as a result of the reverse stock split. Instead, a stockholder who would have otherwise become entitled to a fractional share received a cash payment (without interest) in respect of such fractional shares.