SCHEDULE 13D/A: B. Riley Financial Updates Babcock & Wilcox Stake Following Internal Restructuring
Ownership Disclosure Amendment
B. Riley Financial, Inc. has filed an amended Schedule 13D, updating its beneficial ownership in Babcock & Wilcox Enterprises, Inc. following the separation of B. Riley Securities Holding, Inc.
Summary
- B. Riley Financial, Inc. (BRF) filed Amendment No. 19 to its Schedule 13D regarding its stake in Babcock & Wilcox Enterprises, Inc. (the "Issuer").
- The amendment reflects changes in beneficial ownership due to the separation of B. Riley Securities Holding, Inc. (BRSH) from BRF, which occurred on March 11, 2025.
- As a result of this transaction, BRF is no longer deemed the beneficial owner of shares held by BRS.
- As of the filing date, BRF Investments, LLC (BRFI), a subsidiary of BRF, beneficially owns 11,873,160 shares of Common Stock, representing 12.1% of the Issuer's outstanding shares.
- Bryant R. Riley, Co-Chief Executive Officer of B. Riley Financial, beneficially owns an aggregate of 13,246,373 shares, representing 13.5% of the Issuer's Common Stock.
- Bryant R. Riley's aggregate ownership includes 1,373,213 shares held directly (1.4%) and 11,873,160 shares held indirectly through BRFI (12.1%).
- Bryant R. Riley disclaims beneficial ownership of shares held by BRFI except to the extent of his pecuniary interest.
- The percentage of class is calculated based on 98,404,024 shares of Common Stock outstanding as of March 10, 2025, as reported by the Issuer in its Form 10-K filed on March 31, 2025.
Sentiment
Score: 5
Explanation: The document is a factual update on beneficial ownership changes due to an internal restructuring of the reporting entity, B. Riley Financial, and contains no positive or negative performance indicators for Babcock & Wilcox Enterprises, Inc.
Future Outlook
NA
Industry Context
NA
Stakeholder Impact
- Shareholders may note the updated beneficial ownership structure of a significant holder, which could influence perceptions of control or strategic alignment.
Key Dates
| Date | Description |
|---|---|
| 2018-11-30 | Original Schedule 13D filed. |
| 2019-04-10 | Amendment No. 1 to Schedule 13D filed. |
| 2019-05-07 | Amendment No. 2 to Schedule 13D filed. |
| 2019-07-23 | Amendment No. 3 to Schedule 13D filed. |
| 2019-07-29 | Amendment No. 4 to Schedule 13D filed. |
| 2020-05-20 | Amendment No. 5 to Schedule 13D filed. |
| 2020-06-11 | Amendment No. 6 to Schedule 13D filed. |
| 2020-07-02 | Amendment No. 7 to Schedule 13D filed. |
| 2020-09-10 | Amendment No. 8 to Schedule 13D filed. |
| 2020-10-02 | Amendment No. 9 to Schedule 13D filed. |
| 2021-01-27 | Amendment No. 10 to Schedule 13D filed. |
| 2021-02-10 | Amendment No. 11 to Schedule 13D filed. |
| 2021-03-26 | Amendment No. 12 to Schedule 13D filed. |
| 2021-10-29 | Amendment No. 13 to Schedule 13D filed. |
| 2023-12-26 | Amendment No. 14 to Schedule 13D filed. |
| 2024-01-22 | Amendment No. 15 to Schedule 13D filed. |
| 2024-04-17 | Amendment No. 16 to Schedule 13D filed. |
| 2024-07-15 | Amendment No. 17 to Schedule 13D filed. |
| 2024-09-25 | Amendment No. 18 to Schedule 13D filed. |
| 2025-03-10 | Date as of which 98,404,024 shares of Common Stock were outstanding, as reported by the Issuer. |
| 2025-03-11 | B. Riley Securities Holding, Inc. (BRSH) separated from B. Riley Financial, Inc. (BRF). |
| 2025-03-31 | Date of Issuer's Quarterly Report on Form 10-K filing with the SEC. |
| 2025-04-02 | Date of filing of this Amendment No. 19 to Schedule 13D. |
Keywords
Babcock & Wilcox Enterprises Inc., B. Riley Financial Inc., Schedule 13D, beneficial ownership, stake, common stock, SEC filing, ownership change, BRF Investments LLC, Bryant R. Riley
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