Bel Fuse Upsizes Class B Stock Offering to Raise $399 Million
Bel Fuse has priced an upsized underwritten offering of 1.5 million Class B common shares at $266 each, generating gross proceeds of approximately $399.0 million. Net proceeds will fund repayment of outstanding indebtedness, the remaining 20% acquisition of Enercon Technologies and potential future acquisitions or partnerships.
1. Offering Details
Bel Fuse Inc. has announced the pricing of an upsized underwritten offering of 1,500,000 shares of its Class B common stock at an offering price of $266.00 per share, resulting in aggregate gross proceeds of approximately $399.0 million before fees and expenses. The underwriters have been granted a 30-day option to purchase up to an additional 225,000 shares at the same price less discounts and commissions.
2. Use of Proceeds
The company intends to apply net proceeds to repay any outstanding indebtedness under its Credit and Security Agreement, complete the remaining 20% acquisition of Enercon Technologies, Ltd., and pursue other acquisition or partnership opportunities, with any residual funds allocated to general corporate purposes.
3. Underwriting and Closing
Citigroup, BofA Securities and Wells Fargo Securities are acting as joint lead book-running managers, supported by Needham & Company, Oppenheimer, Baird, BMO Capital Markets, Craig-Hallum and Northland Capital Markets. The offering is expected to close on May 15, 2026, subject to customary closing conditions.
