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Item 1. |
Security and Issuer.
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This statement on Schedule 13D (this “Schedule 13D”) relates
to the shares of the Class A common stock, par value $0.10 per
share (the “Common Stock”), of Bel Fuse Inc., a New Jersey
corporation (the “Issuer”). The address of the principal
executive offices of the Issuer is 206 Van Vorst Street, Jersey
City, New Jersey 07302.
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Item 2. |
Identity and Background.
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The person filing this statement is Christopher F. Bennett, a
citizen of the United States of America (the “Reporting
Person”).
The principal business address of the Reporting Person is P.O. Box
216, Short Hills, New Jersey 07078.
The Reporting Person’s present principal occupation or employment
is serving as a partner of Petrus Partners Ltd., a private
vertically integrated real estate and real asset fund management
and operating company.
The Reporting Person has not, during the past five years,
(a) been convicted in a criminal proceeding (excluding traffic
violations or similar misdemeanors), or (b) been a party to a
civil proceeding of a judicial or administrative body of competent
jurisdiction and as a result of such proceeding was or is subject
to a judgment, decree or final order enjoining future violations
of, or prohibiting, or mandating activities subject to, Federal or
State securities laws or a finding of any violation with respect to
such laws.
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Item 3. |
Source and Amount of Funds or Other
Consideration.
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The Reporting Person has used personal funds (approximately
$2,315,470) to purchase the Shares.
The shares of Common Stock held by the Reporting Person are held in
margin accounts together with other securities. Such margin
accounts may from time to time have debit balances.
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Item 4. |
Purpose of Transaction.
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The Reporting Person acquired his positions in the shares of Common
Stock in the belief that they were undervalued and represented an
attractive long-term investment opportunity. The Reporting Person,
among other things, intends to have discussions with
representatives of the Issuer’s management and board of directors
relating to a variety of matters that the Reporting Person believes
will increase shareholder value, including, operational, financial,
corporate governance, management, capitalization, and strategic
direction matters. The Reporting Person has also engaged, and
intend to continue to engage, in discussions with other current or
prospective shareholders, industry analysts, existing or potential
strategic partners or competitors, investment and financing
professionals, sources of credit, and other third parties regarding
a variety of matters relating to the Issuer and the shares of
Common Stock, including each of the operational, financial,
corporate governance, management, capitalization, and strategic
direction matters noted herein.
The Reporting Person may from time to time and at any time:
(i) acquire additional shares of Common Stock and/or other
securities and/or instruments (including equity, debt or other
securities or instruments) of the Issuer (or its affiliates) in the
open market, in privately negotiated transactions, or otherwise;
(ii) dispose of any or all of their shares of Common Stock
and/or other securities and/or instruments of the Issuer (or its
affiliates) in the open market, in privately negotiated
transactions, or otherwise; (iii) enter into swap and/or other
derivative transactions with broker-dealers and/or financial
institutions counterparties with respect to the securities of the
Issuer (or its affiliates) which may be deemed to either increase
or decrease the Reporting Persons economic exposure to the value of
the shares of Common Stock or other securities of the Issuer);
and/or (iv) engage in any other hedging or similar
transactions with respect to the shares of Common Stock and/or
other securities or instruments of the Issuer.
Other than as set forth above, the Reporting Person does not have
any plans or proposals as of the date of this filing which relate
to or would result in any of the actions enumerated in Item 4 of
the instructions to Schedule 13D.