Nanogate AG (XTRA:N7G) agreed to acquire 80% stake in Jay-Plastics Inc. from Jay Industries, Inc. for $55 million on December 5, 2016. The agreement includes performance based components as part of a graduated pricing model for acquiring the outstanding shares. Nanogate is expected to pay around 25% of the purchase price in shares. The company has secured financing required to complete the transaction. The existing management will continue to direct the company and post-closing the company will be rebranded to Nanogate Jay Systems. The transaction is expected to be completed at the beginning of 2017. Christian Dose of WMP Finanzkommunikation GmbH acted as PR advisor in the transaction. Nanogate AG (XTRA:N7G) completed the acquisition of 80% stake in Jay-Plastics Inc. from Jay Industries, Inc. on January 9, 2017. As on April 18, 2017, Nanogate AG used proceeds from issue of 0.3 million shares to partially refinance the deal.