Bel Fuse launches public offering of 1.3 million Class B shares

Bel Fuse Inc. (NASDAQ: BELFA and BELFB) announced the launch of an underwritten public offering of 1.3 million shares of its Class B common stock. The electronic components manufacturer also granted underwriters a 30-day option to purchase up to an additional 195,000 shares at the public offering price, less underwriting discounts and commissions.

The company stated it intends to use net proceeds to pay down outstanding debt under its Credit and Security Agreement, fund the remaining 20% acquisition of Enercon Technologies Ltd., pursue other acquisition or partnership opportunities, and support general corporate purposes.

Citigroup, BofA Securities, and Wells Fargo Securities serve as joint book-running managers for the offering. The proposed offering remains subject to market and other conditions, with no assurance regarding completion timing or final terms.

Bel filed the offering under an automatic shelf registration statement on Form S-3 with the Securities and Exchange Commission. A preliminary prospectus supplement and accompanying prospectus will be filed with the SEC and made available on the agency's website.

The West Orange, New Jersey-based company designs and manufactures electronic components, systems and solutions for aerospace, defense, industrial, and data-driven markets. Its product portfolio includes power systems, connectors, cable assemblies, circuit protection, and networking products.

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