Lixte Biotechnology completes merger with Nomad, becomes Nomad Power Solutions
The company closed its merger with battery storage firm Nomad on July 1, 2026, changed its corporate name effective July 3, and will trade as NMAD starting July 6.
Lixte Biotechnology Holdings announced that it the Merger was consummated by the filing of a Certificate of Merger filed with the Secretary of State of the State of Delaware on July 1, 2026.1 The transaction brings Nomad Transportable Power Systems, a maker of deployable battery energy storage systems, into the company as a wholly owned subsidiary.
The corporate name change took effect first. On July 1, 2026, the Board approved an amendment to the Company's Certificate of Incorporation to change the name of the Company from "Lixte Biotechnology Holdings, Inc." to "Nomad Power Solutions, Inc." effective on July 3, 2026.1 The ticker change came a few days later: the Company's common stock will begin trading under the new name "Nomad Power Solutions, Inc." on the NASDAQ stock market effective July 6, 2026, and the ticker symbol will change from "LIXT" to "NMAD," effective July 6, 2026.1
On the deal terms, the Company issued 2,992,041 Exchange Common Shares and 50,366.07 Exchange Preferred Shares1 to Nomad's accredited stockholders. Unaccredited stockholders of NOMAD will receive cash in lieu of shares, based on the 60-day volume-weighted average price of the Company's common stock of $5.57.1
Governance changes followed the close. On July 1, 2026, the Board appointed John Travaglini to the Board, effective immediately, with a term expiring at the Company's 2026 annual meeting of stockholders.1 Looking ahead, the Company's board of directors has set July 6, 2026 as the record date for the Stockholder Meeting, which meeting is to be held on or about September 4, 2026.1
Written by readthrough’s AI from the linked primary sources and fact-checked against them automatically before publishing. Not investment advice.