Pins matching tag:"Kenneth Young"

B&W sold its Allen-Sherman-Hoff ash-handling business to a subsidiary of Austria's Andritz for $29 million, a step to finish paying down its debt and focus on power generation, including plants for AI data centres. B&W keeps selling A-S-H and Diamond Power products to utilities as Andritz's sales representative.

B&W sold $67.5 million of new shares through its at-the-market program in two days, about $50 million of it to a single institutional investor, then paused the sales. The money backs its move into power for AI factories and data centres.

B&W sold 12.4 million new shares at $18.50 each, raising about $230 million with the underwriters' extra shares, and Applied Digital bought about 540,500 of them. The money is meant to expand steam turbine and boiler production for AI data centre power plants.

B&W's board authorised buying back up to $50 million of its common stock, starting after its second-quarter 10-Q, with no expiry date and subject to its lenders. The same day it called its last $61.4 million of 2026 notes for redemption.