BELFB · Bel Fuse Inc.

Bel Fuse Inc. announced a follow-on equity offering through an underwriting agreement dated May 13, 2026, upsized to 1,500,000 shares of Class B common stock priced at $266.00 per share, generating expected gross proceeds of $399 million and net proceeds of $383.3 million after discounts and expenses. This capital raise provides significant liquidity for strategic priorities, primarily repaying outstanding debt under its Credit and Security Agreement to strengthen the balance sheet, funding the remaining 20% acquisition of Enercon Technologies, Ltd., and pursuing other acquisition or partnership opportunities, with any balance for general corporate purposes. The inclusion of a 30-day overallotment option for 225,000 shares offers underwriters flexibility to meet demand. Lock-up agreements from directors and executives for 60 days signal confidence in the company's prospects while preventing near-term selling pressure. The offering utilizes an effective S-3ASR shelf registration (File No. 333-295813), with prospectus supplement filed May 14, 2026, and closing anticipated May 15, 2026, pending standard conditions. Legal opinion from Lowenstein Sandler LLP confirms share validity. Press releases on May 12 (launch) and May 13 (pricing) highlight the transaction's progression amid strong market reception, as evidenced by the upsizing from initial 1,300,000 shares.