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 LIXTE’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.
This strategic pivot marks a significant shift from LIXTE’s previous focus as a clinical-stage pharmaceutical and med-tech company. LIXTE had been developing cancer therapies, including its lead compound LB-100, a first-in-class PP2A inhibitor, and through its wholly owned subsidiary Liora Technologies Europe Ltd., it was pioneering electronically controlled proton therapy systems. The merger effectively ends LIXTE’s biotechnology operations and redirects the company into the energy storage sector.
The announcement highlights the growing importance of energy storage infrastructure to support the increasing power demands of AI data centers, electric vehicle charging networks, and modernized electrical grids. NOMAD’s deployable battery systems are designed to provide rapid, scalable energy storage solutions for utilities and industrial customers, addressing critical needs for grid stability and renewable energy integration.
For investors, the name change and new ticker symbolize a fresh start under NOMAD Power Solutions. The company’s existing pipeline of over 30 projects across North America suggests near-term revenue potential, and public market access could accelerate manufacturing capacity expansion. The full press release is available at https://nnw.fm/hKuCR.
As NOMAD Power Solutions, the company enters a competitive but rapidly expanding market. Key players include Tesla, Fluence, and other battery storage providers. However, NOMAD’s focus on transportable, utility-grade systems may differentiate it in niches requiring rapid deployment and flexibility. The company’s success will depend on executing its project pipeline and scaling production to meet demand.
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