Bel Fuse Raises $399M with 1.5M-Share, $266 Offering to Fund Acquisition
Bel Fuse Inc. priced an upsized offering of 1.5 million Class B shares at $266 each, raising about $399 million and granting underwriters a 30-day option for 225,000 additional shares. Proceeds will fund debt reduction, the remaining 20% of the Enercon acquisition and other acquisitions, with any remainder for general corporate purposes.
1. Offering Details
Bel Fuse Inc. has priced an upsized offering of 1,500,000 Class B common shares at $266.00 per share, expected to generate approximately $399.0 million in gross proceeds. The company granted underwriters a 30-day option to purchase up to 225,000 additional shares at the public offering price, less underwriting discounts and commissions.
2. Use of Proceeds
Net proceeds will be applied to pay down outstanding indebtedness under its Credit and Security Agreement, fund the remaining 20% acquisition of Enercon Technologies, Ltd., and pursue other acquisitions or partnership opportunities. Any remaining funds will be allocated for general corporate purposes.
3. Transaction Timeline and Managers
The offering is expected to close on May 15, 2026, subject to customary closing conditions. Citigroup, BofA Securities and Wells Fargo Securities are acting as joint lead book-running managers, with Needham & Company, Oppenheimer, Baird and BMO Capital Markets as additional book-runners and Craig-Hallum and Northland as co-managers.