Bel Fuse (BELFB) said late Tuesday it has launched a public offering of 1.3 million Class B shares, with Citigroup, BofA Securities, and Wells Fargo Securities as joint book-runners.

The company said it will grant its underwriters a 30-day option to buy up to an additional 195,000 shares.

Net proceeds will be used among others to repay its debt, to acquire the remaining 20% of Enercon Technologies, and for general corporate purposes, it said.