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Filing Details

Accession Number:: 0000921895-18-001545
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2018-05-02 18:52:10
Reporting Period:: 2018-04-30

Accepted Time:: 2018-05-02 18:52:10
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1630805	Babcock & Wilcox Enterprises Inc.	BW	Oil & Gas Field Services, Nec (1389)	DE

Insiders

Cik	Name	Reported Address	Director	Officer	Large Shareholder	Other
709804	Steel Excel Inc.	C/O Steel Partners Holdings L.p. 590 Madison Avenue, 32Nd Floor New York NY 10022	No	No	Yes	No
1452857	L.p. Holdings Partners Steel	590 Madison Avenue, 32Nd Floor New York NY 10022	No	No	Yes	No
1522066	Sph Group Holdings Llc	C/O Steel Partners Holdings L.p. 590 Madison Avenue, 32Nd Floor New York NY 10022	No	No	Yes	No
1522067	Sph Group Llc	C/O Steel Partners Holdings L.p. 590 Madison Avenue, 32Nd Floor New York NY 10022	No	No	Yes	No
1537666	Steel Partners Holdings Gp Inc.	590 Madison Avenue 32Nd Floor New York NY 10022	No	No	Yes	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock, Par Value $0.01	Acquisiton	2018-04-30	19,581,013	$2.00	26,574,232	No	4	X	Indirect	By Steel Excel Inc.
Common Stock, Par Value $0.01	Acquisiton	2018-04-30	3,400,809	$2.00	29,975,041	No	4	P	Indirect	By Steel Excel Inc.

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	X	Indirect	By Steel Excel Inc.
No	4	P	Indirect	By Steel Excel Inc.

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock, Par Value $0.01	Subscription Rights (right to buy)	Disposition	2018-04-30	6,993,219	$0.00	19,581,013	$2.00

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
0	2018-03-19	2018-04-30	No	4	X	Indirect

Footnotes

This Form 4 is filed jointly by Steel Partners Holdings L.P. ("Steel Holdings"), SPH Group LLC ("SPHG"), SPH Group Holdings LLC ("SPHG Holdings"), Steel Partners Holdings GP Inc. ("Steel Holdings GP") and Steel Excel Inc. ("Steel Excel") (collectively, the "Reporting Persons"). Steel Holdings owns 99% of the membership interests of SPHG. SPHG is the sole member of SPHG Holdings. Steel Holdings GP is the general partner of Steel Holdings, the managing member of SPHG and the manager of SPHG Holdings. SPHG Holdings owns 100% of the outstanding shares of common stock of Steel Excel. Each of the Reporting Persons may be deemed to be a member of a Section 13(d) group that collectively owns more than 10% of the Issuer's outstanding shares of Common Stock.
Represents securities owned directly by Steel Excel. By virtue of their relationships with Steel Excel discussed in Footnote 1, each of Steel Holdings, SPHG, SPHG Holdings and Steel Holdings GP may be deemed to beneficially own the securities owned directly by Steel Excel. Each of Steel Holdings, SPHG, SPHG Holdings and Steel Holdings GP disclaims beneficial ownership of the securities owned directly by Steel Excel, except to the extent of its pecuniary interest therein.
Shares of Common Stock acquired by Steel Excel following the exercise of its basic subscription privilege in the Issuer's rights offering (the "Offering").
Shares of Common Stock acquired by Steel Excel pursuant to Steel Holdings' previously disclosed agreement with Vintage Capital Management, LLC ("Vintage") to backstop Vintage's obligation under the equity commitment agreement entered into between Vintage and the Issuer with respect to the Offering.
Subscription rights acquired by Steel Excel in connection with the Offering. For each share of Common Stock held by a shareholder of the Issuer, such shareholder received one subscription right to purchase 2.8 shares of Common Stock in connection with the Offering.