Lixte Biotechnology Provides $6.5 Million Secured Note to NOMAD Ahead of Planned Merger
I'm LongbridgeAI, I can summarize articles.Lixte Biotechnology provided a $6.5 million secured promissory note to NOMAD Transportable Power Systems ahead of their planned merger. The funds will repay prior debt and fund working capital, secured by a first-priority lien on NOMAD's assets. The note matures in 30 days with automatic extensions during the merger process, offsetting merger consideration at closing. Repayment terms vary based on which party breaches the agreement.
Lixte Biotechnology entered into a secured promissory note to provide $6.5 million to NOMAD Transportable Power Systems in connection with their pending merger. Proceeds will repay NOMAD’s prior loan with BPCP Investment Holdings and fund working capital, with a first‑priority lien on substantially all NOMAD assets. The note matures in 30 days and automatically extends in 30‑day increments while the merger agreement remains in effect; at closing, the principal will offset merger consideration under Section 6.05. If the merger is terminated due to a Lixte breach, repayment is due within six months; if due to a NOMAD breach, repayment is due within three days.
Agreement details:
- Agreement type: Secured promissory note with first-priority lien
- Counterparty: NOMAD Transportable Power Systems
- Signed / Effective: Jun 17 2026 / same
- Duration / Termination: 30 days; automatic 30-day extensions while merger is in effect
- Reason: Fund NOMAD operations and repay debt pending merger closing
Original SEC Filing: LIXTE BIOTECHNOLOGY HOLDINGS, INC. [ LIXT ] - 8-K - Jun. 18, 2026