Elettronica Santerno S.p.A. announced that it has entered into an investment agreement with new investor, Enertronica S.p.A. (BIT:ENT) for private placement of common shares for gross proceeds of €2,250,000 on November 3, 2016. The investor will acquire 51% stake in the company through this transaction. The investor will also be given an option to increase its stake by additional 9% in an additional tranche for €1,000,000 by December 1, 2018. The shares being issued will be subject to a lock-up period of 24 months. The transaction is expected to close by December 15, 2016.