Item 8.01 Other Events On November 5, 2025, BWX Technologies, Inc. (the “Company”) issued a press release announcing that the Company plans to commence, subject to market conditions and other factors, a private offering (the “Offering”) of $1.0 billion aggregate principal amount of convertible senior notes due 2030 (the “Notes”) to persons reasonably believed to be qualified institutional buyers p…
Filed Nov 5, 2025Accepted Nov 5, 2025, 2:33 AM ESTCIK 1486957Accession 0001104659-25-106665
At BWX Technologies, Inc. (NYSE: BWXT), we are People Strong, Innovation Driven. A U.S.-based company with approximately 10,000 employees, BWXT is a Fortune 1000 and Defense News Top 100 manufacturing and engineering innovator that provides safe and effective nuclear solutions for global security, clean energy, nuclear medicine, space exploration and environmental restoration. BWXT owns and operates 17 manufacturing facilities globally, and its 14 strategic partnerships support the U.S. and Canadian governments at more than two dozen additional locations.
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Item 8.01Item 8.01 - Other Events
Item 8.01 Other Events
On November 5, 2025, BWX Technologies, Inc. (the “Company”)
issued a press release announcing that the Company plans to commence, subject to market conditions and other factors, a private offering
(the “Offering”) of $1.0 billion aggregate principal amount of convertible senior notes due 2030 (the “Notes”)
to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933 (the “Securities
Act”). The Notes will be guaranteed by each of the Company’s present and future direct and indirect wholly owned domestic
subsidiaries that guarantees its existing and future capital markets indebtedness. A copy of the press release is attached as Exhibit 99.1
to this Current Report on Form 8-K (the “Current Report”) and is incorporated herein by reference.
Concurrently with the closing of the Offering, the Company expects
to enter into a Second Amended and Restated Credit Agreement (the “New Credit Facility”) with Wells Fargo Bank, National Association,
as administrative agent, and the other lenders party thereto, which will amend and restate the Company’s existing credit facility.
The New Credit Facility will provide for a five-year $1.25 billion senior secured revolving credit facility. The borrower under the New
Credit Facility will be the Company and the New Credit Facility guarantors will include each of the guarantors of the Notes. The New Credit
Facility will be secured by first-priority liens on certain assets owned by the Company and the guarantors (other than its subsidiaries
comprising a portion of its Government Operations segment).
The Company’s ability to enter into the New Credit Facility is
subject to prevailing market conditions and other events. There can be no assurance that the consummation of the New Credit Facility will
occur on the terms described herein or at all. The Offering is not conditioned on the closing of the New Credit Facility.
The information included in this Current Report is neither an offer
to sell nor a solicitation of an offer to buy any securities.
Forward-Looking Statements
This Current Report contains forward-looking statements, including,
without limitation, statements regarding the anticipated offering of the Notes and the entry into the New Credit Facility. Forward- looking
statements are based on current expectations and assumptions that are subject to a number of risks and uncertainties that could cause
actual results to differ materially from those anticipated. The Company has based its forward-looking statements on information currently
available to it and its current expectations, estimates and projections about the Company, its industries and its business environment.
The Company cautions that these statements are not guarantees of future performance and you should not rely unduly on them as they involve
risks, uncertainties and assumptions that the Company cannot predict. In addition, the Company has based many of these forward-looking
statements on assumptions about future events that may prove to be inaccurate. While the Company’s management considers these statements
and assumptions to be reasonable, they are inherently subject to numerous factors, most of which are difficult to predict and many of
which are beyond the Company’s control. As a contractor to the U.S. Government, such risks include, without limitation, budget uncertainty,
the risk of future budget cuts, the impact of continuing resolution funding mechanisms and the debt ceiling, the potential for government
shutdowns and changing funding and acquisition priorities. On October 1, 2025, the U.S. Government entered a partial shutdown, the
duration of which is uncertain. If this shutdown were to continue for an extended period, the Company could be at risk of program cancellations,
schedule delays, production halts and other disruptions and nonpayment, which could adversely affect the Company’s results of operations.
Additionally, the Company may experience delays in new awards of its products and services which could also adversely affect its results
of operations. Accordingly, the Company’s actual results may differ materially from the future performance that it has expressed
or forecast in its forward-looking statements.
For more information on the risks and uncertainties that could cause
actual results to differ materially from those anticipated, see the “Risk Factors” and “Management’s Discussion
and Analysis of Financial Condition and Results of Operations” sections of the Company’s Annual Report on Form 10 K for
the year ended December 31, 2024 and its subsequent Quarterly Reports on Form 10-Q.
The Company cautions not to place undue reliance on these forward-looking
statements, which speak only as of the date of this Current Report on Form 8-K, and undertakes no obligation to update or revise
any forward-looking statement, except to the extent required by applicable law.
Filed exhibits (1)
EX-99.1 (by filename) tm2530134d1_ex99-1.htm
EX-99.1
2
tm2530134d1_ex99-1.htm
EXHIBIT 99.1
Exhibit 99.1
BWX Technologies Announces Proposed
Convertible Senior Notes Offering
(LYNCHBURG, Va., Nov. 5, 2025) - BWX Technologies, Inc.
(NYSE: BWXT) (“BWXT”) announced today that it intends to offer, subject to market and other conditions, $1.0 billion aggregate
principal amount of convertible senior notes due 2030 (the “Notes”), to be sold only to persons reasonably believed to be
qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”).
BWXT also expects to grant to the initial purchasers of the Notes an option to purchase up to an additional $150.0 million aggregate
principal amount of the Notes, for settlement within a 13-day period beginning on, and including, the first date on which the Notes are
issued. The Notes will be guaranteed by each of BWXT’s present and future direct and indirect wholly owned domestic subsidiaries
that guarantees its existing and future capital markets indebtedness.
BWXT intends to (i) use a portion of the net proceeds from the
offering to fund the cost of entering into the capped call transactions described below; (ii) repay in fu…