Corporate ActionMay 13, 2026, 09:04 PM
Bel Fuse Prices Upsized Offering of 1.5M Shares at $266/Share for $399M
AI Summary
Bel Fuse Inc. announced the pricing of an upsized underwritten offering of 1,500,000 shares of its Class B common stock at $266.00 per share, expecting gross proceeds of approximately $399.0 million. The company also granted underwriters a 30-day option to purchase an additional 225,000 shares. Proceeds will be used to repay outstanding debt, fund the remaining 20% acquisition of Enercon Technologies, Ltd., pursue other acquisitions, and for general corporate purposes. The offering is expected to close on May 15, 2026.
Key Highlights
- Priced upsized offering of 1,500,000 Class B common shares.
- Offering price set at $266.00 per share.
- Expected gross proceeds of approximately $399.0 million.
- Underwriters have a 30-day option for an additional 225,000 shares.
- Proceeds to repay outstanding indebtedness.
- Proceeds to fund remaining 20% acquisition of Enercon Technologies, Ltd.
- Funds also allocated for other acquisitions and general corporate purposes.