LIXTE Biotechnology Holdings Inc. (NASDAQ: LIXT) has 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. For more details, the full press release can be viewed 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, the merger with NOMAD marks a strategic pivot toward the energy sector, capitalizing on the accelerating demand for reliable energy storage solutions to support data centers, electric vehicle charging infrastructure, and aging grid systems.
NOMAD Power Solutions will now operate under the leadership of John Travaglini, who brings experience in scaling energy storage operations. The company's active project pipeline across North America suggests immediate revenue potential, and with public market access, NOMAD intends to expand its manufacturing capabilities to meet anticipated demand. The name change and ticker symbol update reflect the company's new identity and strategic direction.
This development is significant as it highlights a trend of biotechnology companies pivoting to high-growth sectors like energy storage. The merger provides NOMAD with a public listing, enabling it to raise capital for scaling production. For investors, the transition from a clinical-stage biotech to an energy storage company introduces a different risk profile, but also access to a market projected to grow substantially due to AI and electrification trends.
Additional information about the company's previous operations can be found at www.lioratechnologies.com. The latest news and updates relating to LIXT are available in the company's newsroom at https://nnw.fm/LIXT.
