Bel Fuse rises after expanded $399 mln share offering

Bel Fuse

14/05/2026 16:32

** Electronic components maker Bel Fuse BELFB.O shares up 1.3% to $270.50 on Thurs after upsized $399 mln follow-on priced

** West Orange, New Jersey-based Bel Fuse late Weds sold 1.5 mln Class B shares at $266

** BELFB shares closed down 10.5% at $266.92 on Weds after co launched 1.3 mln share offering

** Co intends to use net offering proceeds to pay down debt, fund remaining 20% acquisition of Enercon Technologies or other potential acquisitions, and any remainder for general corporate purposes

** In Nov 2024, Bel Fuse completed majority stake acquisition of Enercon, an engineering firm serving the power generation, industrial, and data center markets

** Citigroup, BofA and Wells Fargo joint lead bookrunners for stock offering

** Prior to offering, Bel Fuse had 2.1 mln of voting Class A shares and 10.6 mln Class B shares outstanding, per the prospectus

** BELFB shares now up about 60% YTD and about 250% over the past 12 months

** All 6 analysts covering the stock are bullish; median PT $308.50, per LSEG

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))