LIXTE Biotechnology Holdings Inc. (NASDAQ: LIXT) announced the completion of its merger with NOMAD Transportable Power Systems Inc., making NOMAD a wholly owned subsidiary. In connection with the transaction, the company issued 2,992,041 shares of common stock and 50,366.07 shares of newly authorized Series D preferred stock to NOMAD’s accredited stockholders. The company also changed its corporate name to NOMAD Power Solutions Inc., effective July 3, 2026, and will begin trading under the ticker symbol “NMAD” on July 6, 2026.
The merger transforms LIXTE’s business to focus on deployable utility-grade battery energy storage systems, positioning it to address growing demand driven by artificial intelligence, electrification, grid modernization, and industrial expansion. NOMAD will continue to operate under CEO John Travaglini, who stated that the business is engaged on more than 30 active utility, infrastructure, and strategic customer projects across North America. Travaglini expects that public market access will support continued manufacturing expansion and growth.
For more details on the merger, visit the full press release at https://nnw.fm/hKuCR.
LIXTE Biotechnology Holdings Inc. was previously a clinical-stage pharmaceutical and med-tech company focused on cancer drug development, with its lead compound LB-100, a first-in-class PP2A inhibitor. Through its wholly owned subsidiary, Liora Technologies Europe Ltd., the company also pioneered electronically controlled proton therapy systems. However, the merger with NOMAD marks a strategic pivot away from biotechnology toward the energy storage sector.
NOMAD Power Solutions will now concentrate on providing mobile and stationary battery energy storage systems for utilities, infrastructure projects, and industrial customers. The company aims to capitalize on the increasing need for reliable and flexible energy storage solutions as the grid evolves to accommodate renewable energy sources and rising electricity demand from data centers and electric vehicles.
Investors can find the latest news and updates on the company’s newsroom at https://nnw.fm/LIXT.
