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 the company’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 full press release is available at https://nnw.fm/hKuCR.
Previously, LIXTE Biotechnology Holdings was a clinical-stage pharmaceutical and med-tech company focused on cancer drug development. Through its wholly owned subsidiary, Liora Technologies Europe Ltd., the company also pioneered electronically controlled proton therapy systems. However, with this merger, the company is pivoting entirely to the energy storage sector.
NOMAD Transportable Power Systems specializes in mobile and stationary battery storage solutions. The merger is expected to accelerate the deployment of NOMAD’s systems across the utility, infrastructure, and industrial sectors. The company’s focus on large-scale battery storage comes at a time when demand for reliable and flexible power solutions is surging due to the expansion of AI data centers, electrification of transportation, and the need to modernize aging grid infrastructure.
According to the announcement, NOMAD’s active projects span North America, and the company aims to leverage public market access to scale manufacturing and meet customer demand. The shift from a biotech firm to an energy storage company represents a significant strategic transformation, reflecting the market’s growing appetite for clean energy technologies.
Investors and industry observers will be watching to see how NOMAD Power Solutions executes on its pipeline of projects and whether it can capture a meaningful share of the expanding battery storage market. The company’s new ticker symbol “NMAD” begins trading on July 6, 2026.
For more information about NOMAD Power Solutions, visit the company’s newsroom at https://nnw.fm/LIXT.
