LIXTE Biotechnology Holdings Inc. (NASDAQ: LIXT) announced the completion of its merger with NOMAD Transportable Power Systems Inc., making NOMAD a wholly owned subsidiary. Effective July 3, 2026, the company changed its corporate name to NOMAD Power Solutions Inc. and will begin trading under the ticker symbol “NMAD” on July 6, 2026. 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 merger transforms LIXTE’s business to focus on deployable utility-grade battery energy storage systems, positioning the combined entity 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. Travaglini expressed confidence that public market access will support continued manufacturing expansion and growth.
This strategic pivot comes as the energy storage sector experiences rapid growth due to the increasing need for reliable power solutions. The company’s focus on deployable systems offers a flexible alternative to traditional stationary storage, enabling rapid deployment for grid support, industrial applications, and backup power for critical infrastructure.
“The NOMAD team has built an impressive business with significant commercial traction,” said John Travaglini. “We believe that becoming a public company will provide the capital and visibility needed to scale our operations and meet the accelerating demand for our solutions.”
With the completion of the merger, NOMAD Power Solutions aims to leverage its innovative technology and existing customer relationships to capture a larger share of the energy storage market. The company’s systems are designed to be modular and scalable, allowing for customization based on specific project requirements.
For more information about NOMAD Power Solutions, the full press release is available at https://nnw.fm/hKuCR. Additional updates can be found in the company’s newsroom at https://nnw.fm/LIXT.
