An announcement from Lixte Biotechnology Holdings ( (LIXT) ) is now available.

On July 1, 2026, Lixte completed its merger with Nomad Transportable Power Systems, making Nomad a wholly owned subsidiary and issuing roughly 3 million common shares and over 50,000 Series D non‑voting convertible preferred shares as consideration. Accredited Nomad stockholders received equity, while unaccredited holders were paid cash based on the 60‑day volume‑weighted average price, and the new preferred stock will convert into common shares following stockholder approval.

The transaction, announced in a July 2, 2026 press release, accelerates Lixte’s pivot from biotechnology into the fast‑growing market for deployable battery energy storage, supported by a corporate name change to Nomad Power Solutions and a NASDAQ ticker change to NMAD effective July 6, 2026. Governance moves include the July 1, 2026 appointment of Nomad CEO John Travaglini to Lixte’s board, adoption of new charter and bylaw provisions for the Series D preferred stock, and stockholder support agreements aimed at securing approvals for share conversions, director elections and an expanded capital structure.