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 said the business is engaged on more than 30 active utility, infrastructure and strategic customer projects across North America and expects public market access to support continued manufacturing expansion and growth.
The announcement marks a significant pivot for LIXTE, which was previously a clinical-stage pharmaceutical and med-tech company focused on cancer drug development. LIXTE had been developing LB-100, a first-in-class PP2A inhibitor, and through its subsidiary Liora Technologies, was pioneering proton therapy systems. The merger with NOMAD shifts the company’s focus entirely to energy storage, a sector experiencing rapid growth due to increasing electricity demand from data centers, electric vehicles, and industrial modernization.
NOMAD Power Solutions will now target the utility and infrastructure markets with its deployable battery storage systems, which are designed to provide flexible and rapid energy storage solutions. The company’s existing project pipeline of over 30 active projects across North America suggests immediate revenue potential and a strong market position. The merger also provides NOMAD with access to public capital markets, which could accelerate manufacturing expansion and further growth.
For more details, the full press release is available at https://nnw.fm/hKuCR. Additional information about NOMAD Power Solutions can be found through the company’s newsroom at https://nnw.fm/LIXT.
