March 1, 2018 / 9:42 PM / 9 months ago

BRIEF-Babcock & Wilcox Enterprises Q4 Loss Per Share $2.44

March 1 (Reuters) - Babcock & Wilcox Enterprises Inc:

* SEES 2018 ADJUSTED EBITDA OF $75 MILLION TO $95 MILLION

* BABCOCK & WILCOX- ON MARCH 1 ENTERED INTO FIFTH AMENDMENT TO FIRST-LIEN REVOLVING CREDIT FACILITY,GOT COMMITMENT LETTER FROM VINTAGE CAPITAL MANAGEMENT

* BABCOCK & WILCOX - FIFTH AMENDMENT TO BACKSTOP RIGHTS OFFERING OF COMMON STOCK OF AT LEAST $182 MILLION

* RIGHTS OFFERING WILL BE PRICED AT $3.00 PER SHARE

* COMPANY IS CURRENTLY IN DEFAULT UNDER ITS SECOND-LIEN AGREEMENT

* BABCOCK & WILCOX- REMOVAL OF SECOND-LIEN TERM LOAN WILL SAVE ABOUT $20 MILLION ANNUAL INTEREST EXPENSE, INCREASE ITS STRATEGIC AND FINANCIAL FLEXIBILITY

* AS PART OF OVERALL FINANCIAL TRANSACTION, COMPOSITION OF BOARD WILL CHANGE

* BABCOCK & WILCOX - ‍E. JAMES FERLAND, BRIAN K. FERRAIOLI, STEPHEN G. HANKS, AND LARRY W. WEYERS VOLUNTARILY SUBMITTED RESIGNATIONS AS BOARD MEMBERS ​

* ‍TWO NEW DIRECTORS RECOMMENDED BY VINTAGE WILL BE APPOINTED IN COMING WEEKS​

* ‍TWO NEW DIRECTORS APPOINTMENT WILL REDUCE SIZE OF BOARD TO NINE MEMBERS FROM CURRENT ELEVEN MEMBERS​

* ANNOUNCES NEW FINANCING ARRANGEMENTS TO REMOVE SECOND-LIEN TERM LOAN‍​

* SEES 2018 ADJUSTED EBITDA TO BE IN THE RANGE OF $75 MILLION TO $95 MILLION‍​

* FY2018 REVENUE VIEW $1.56 BILLION -- THOMSON REUTERS I/B/E/S Source: (bit.ly/2HSIqJz) Further company coverage:

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