Corporate ActionMay 12, 2026, 04:58 PM
Bel Fuse Commences Underwritten Offering of 1.3M Class B Shares
AI Summary
Bel Fuse Inc. announced the commencement of an underwritten offering of 1,300,000 shares of its Class B common stock. The company also intends to grant the underwriters a 30-day option to purchase up to an additional 195,000 shares. Bel Fuse plans to use the net proceeds to pay down outstanding debt, fund the remaining 20% acquisition of Enercon Technologies, Ltd., or other acquisitions, and for general corporate purposes. Citigroup, BofA Securities, and Wells Fargo Securities are acting as joint book-running managers for the offering.
Key Highlights
- Bel Fuse announced an underwritten offering of 1,300,000 shares of its Class B common stock.
- Underwriters have a 30-day option to purchase up to an additional 195,000 shares.
- Net proceeds will be used to pay down outstanding indebtedness under its Credit and Security Agreement.
- Funds will also be used to complete the remaining 20% acquisition of Enercon Technologies, Ltd.
- Remaining proceeds, if any, will be used for general corporate purposes.
- Citigroup, BofA Securities, and Wells Fargo Securities are joint book-running managers.
Price Impact
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