LIXTE Biotechnology (NASDAQ: LIXT) announced the completion of its previously announced 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 announced it 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 company said the merger transforms its 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.
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