LIXTE Biotechnology Holdings Inc. (NASDAQ: LIXT) announced the completion of its merger with NOMAD Transportable Power Systems Inc., with NOMAD becoming a wholly owned subsidiary. 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. Effective July 3, 2026, the company changed its corporate name to NOMAD Power Solutions Inc. and will begin trading under the ticker symbol “NMAD” on July 6, 2026.
The merger marks a strategic pivot from biotechnology to energy storage, as the company shifts focus to deployable utility-grade battery energy storage systems. The move positions NOMAD Power Solutions to capitalize on growing demand driven by artificial intelligence, electrification, grid modernization, and industrial expansion. CEO John Travaglini noted that NOMAD is already engaged on more than 30 active utility, infrastructure, and strategic customer projects across North America. He 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 was a clinical-stage pharmaceutical and med-tech company focused on cancer drug development. Its lead compound, LB-100, a first-in-class PP2A inhibitor, showed tolerability in cancer patients and potential to enhance chemotherapies and immunotherapies. Through its subsidiary Liora Technologies Europe Ltd., LIXTE also developed the LiGHT System for proton therapy. More information about Liora Technologies is available at www.lioratechnologies.com.
This transformation underscores the growing importance of energy storage infrastructure in meeting the demands of emerging technologies and grid reliability. By leveraging public markets, NOMAD Power Solutions aims to scale its manufacturing capabilities and execute on its substantial project pipeline. The merger reflects a broader trend of companies pivoting to address the energy transition, with implications for investors and the energy sector.
