Bel Fuse slides on planned share offering

Bel Fuse

13/05/2026 15:53

** Electronic components manufacturer Bel Fuse BELFB.O shares down 9.8% to $269.10 on Weds on planned equity raise

** West Orange, New Jersey-based firm late Tues announced offering of 1.3 mln Class B shares

** 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

** Bel Fuse in Nov 2024 completed majority stake acquisition of Enercon, an engineering firm serving the power generation, industrial, and data center markets, for $320 mln, plus up to $10 mln of potential earnout payments for the 2025-2026 period

** Citigroup, BofA and Wells Fargo joint bookrunners for the 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

** About 100,000 BELFB shares have traded so far on Weds vs stock's 10-DMA volume of roughly 228,000, per LSEG data

** Even with the decline, shares up nearly 60% YTD. They hit intraday record high of $308.27 on Mon

** All 6 analysts covering the stock are bullish including 2 "strong buy" ratings; median PT of $308.50 up from $265 a month ago

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

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