Babcock & Wilcox Enterprises' stock experienced a 24-hour plunge of 6.22% following the company's announcement of a proposed public offering.

The decline came after Babcock & Wilcox revealed plans for a $200 million underwritten public offering of its common stock. Such offerings typically lead to stock price pressure due to the dilution of existing shares and increased supply in the market.

The company intends to use the net proceeds to prepay debt and for general corporate purposes, including supporting growth initiatives such as AI data center power generation projects.