LIXTE Biotechnology Holdings Inc. (NASDAQ: LIXT) announced the completion of its merger with NOMAD Transportable Power Systems Inc., making NOMAD a wholly owned subsidiary. The company issued 2,992,041 shares of common stock and 50,366.07 shares of Series D preferred stock to NOMAD’s accredited stockholders. Effective July 3, 2026, the company changed its 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 for the company, which previously focused on clinical-stage pharmaceutical and med-tech development. NOMAD Power Solutions will now concentrate on deployable utility-grade battery energy storage systems, positioning itself to meet surging demand driven by artificial intelligence, electrification, grid modernization, and industrial expansion. CEO John Travaglini noted that the business is already engaged on more than 30 active utility, infrastructure, and strategic customer projects across North America. He expressed confidence that public market access will support continued manufacturing expansion and growth.
The transition reflects a broader trend in the energy sector, where companies are racing to provide scalable storage solutions to support renewable energy integration and grid reliability. NOMAD’s deployable systems allow for rapid deployment and flexibility, addressing critical infrastructure needs. The company expects to leverage its public listing to accelerate production and capture market share in a rapidly evolving industry.
For more details, the full press release is available at nnw.fm/hKuCR. Additional information about the company can be accessed through its newsroom at nnw.fm/LIXT.
