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FAQ: LIXTE Biotechnology Merger with NOMAD and Name Change to NOMAD Power Solutions
LIXTE Biotechnology completed its merger with NOMAD Transportable Power Systems, changing its name to NOMAD Power Solutions Inc. and shifting its focus to utility-grade battery energy storage systems, addressing demand from AI, electrification, and grid modernization.
LIXTE Biotechnology Holdings Inc. completed its merger with NOMAD Transportable Power Systems Inc., making NOMAD a wholly owned subsidiary, and changed its corporate name to NOMAD Power Solutions Inc. effective July 3, 2026.
The company will begin trading under the ticker symbol 'NMAD' on July 6, 2026.
The merged company will focus on deployable utility-grade battery energy storage systems to address growing demand driven by artificial intelligence, electrification, grid modernization, and industrial expansion.
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.
NOMAD will continue to operate under CEO John Travaglini.
NOMAD is engaged on more than 30 active utility, infrastructure, and strategic customer projects across North America.
LIXTE Biotechnology was a clinical-stage pharmaceutical and med-tech company focused on cancer drug development, with lead compound LB-100 (a PP2A inhibitor) and a subsidiary developing proton therapy systems.
The full press release is available at https://nnw.fm/hKuCR.