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 marks a strategic pivot for the company, shifting its focus from clinical-stage biotech to deployable utility-grade battery energy storage systems. According to the announcement, the company is positioning itself to address growing demand driven by artificial intelligence, electrification, grid modernization and industrial expansion. NOMAD CEO John Travaglini will continue to lead the combined entity, noting that the business is engaged on more than 30 active utility, infrastructure and strategic customer projects across North America. Travaglini said public market access is expected to support continued manufacturing expansion and growth.
The move reflects a broader trend of companies aligning with the energy transition, as battery storage becomes critical for stabilizing grids and supporting renewable energy integration. The name change to NOMAD Power Solutions underscores the company’s new identity and commitment to the energy sector. Investors can view the full press release at https://nnw.fm/hKuCR.
