LIXTE Biotechnology Holdings Inc. (NASDAQ: LIXT) has completed its merger with NOMAD Transportable Power Systems Inc., making NOMAD a wholly owned subsidiary, and announced a corporate name change to NOMAD Power Solutions Inc., effective July 3, 2026. The company will begin trading under the ticker symbol “NMAD” on July 6, 2026, according to a press release.
The merger transforms LIXTE’s business to focus on deployable utility-grade battery energy storage systems. The company said it is now positioned to address growing demand driven by artificial intelligence, electrification, grid modernization and industrial expansion. NOMAD will continue to operate under CEO John Travaglini, who noted that 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.
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 move marks a significant pivot for LIXTE, which previously focused on clinical-stage pharmaceutical and med-tech development, including cancer therapies and proton therapy systems.
For investors, the merger signals a strategic shift into the rapidly growing energy storage sector. Battery storage is critical for integrating renewable energy sources, stabilizing the grid, and supporting the increasing power demands of data centers and industrial operations. NOMAD’s deployable systems offer flexibility for utilities and infrastructure projects, potentially accelerating adoption of clean energy technologies.
The announcement underscores the broader trend of companies repositioning to capitalize on the energy transition. With over 30 active projects, NOMAD appears well-positioned to capture market share. However, investors should evaluate the company’s execution risks and competitive landscape. The full press release is available at https://nnw.fm/hKuCR.
Previously, LIXTE was focused on cancer drug development through its lead compound LB-100, a PP2A inhibitor, and proton therapy systems via its subsidiary Liora Technologies. Those operations will continue under the new corporate structure, but the merger shifts the primary business focus to energy storage.
The name change and ticker update are effective immediately, and the company will now operate as NOMAD Power Solutions Inc. under the symbol NMAD. This transformation reflects the increasing importance of energy storage in modern infrastructure and the potential for public companies to drive innovation in this space.
