LIXTE Biotechnology Completes Merger with NOMAD, Renames to NOMAD Power Solutions

LIXTE Biotechnology Holdings Inc. (NASDAQ: LIXT) announced the completion of its merger with NOMAD Transportable Power Systems Inc., making NOMAD a wholly owned subsidiary. 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. 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 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 stated 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.

For more details on the announcement, visit https://nnw.fm/hKuCR.

LIXTE Biotechnology Holdings, Inc. was a clinical-stage pharmaceutical and med-tech company focused on new targets for cancer drug development. However, with the completion of this merger, the company’s strategic focus shifts entirely to the energy storage sector. The former LIXTE operations, including its cancer drug development and its subsidiary Liora Technologies Europe Ltd., which develops proton therapy systems, are expected to be wound down or divested as part of the new direction.

The move comes as demand for energy storage solutions surges, driven by the expansion of renewable energy, the need for grid stability, and the increasing power requirements of data centers for artificial intelligence. NOMAD’s deployable battery systems are designed to provide rapid, scalable energy storage for utilities and large industrial customers, offering a flexible alternative to traditional fixed installations.

Additional information about the company and its new focus can be found at https://www.NetworkNewsWire.com. NetworkNewsWire is a communications platform that distributes financial news and content for public and private companies.