AcquisitionsJun 18, 2026, 08:31 AM
LIXTE Loans $6.5M to NOMAD; Renames to NOMAD Power Solutions
AI Summary
LIXTE Biotechnology Holdings, Inc. provided an update on its previously announced acquisition of NOMAD Transportable Power Systems, Inc., stating it will loan $6.5 million to NOMAD prior to closing. This capital advance aims to fund NOMAD's order backlog and working capital, ensuring continuous production as the acquisition is expected to close around July 1, 2026. Upon closing, the combined entity will be renamed NOMAD Power Solutions, Inc. and will trade under a new ticker symbol, reflecting its focus on deployable battery energy storage systems for utilities and data centers.
Key Highlights
- LIXTE will loan $6.5 million to NOMAD prior to the acquisition closing.
- Loan proceeds will fund NOMAD's order backlog and working capital needs.
- Acquisition of NOMAD Transportable Power Systems is expected to close around July 1, 2026.
- Upon closing, the combined company will be renamed NOMAD Power Solutions, Inc.
- The new entity will trade under a new ticker symbol on the Nasdaq Stock Market.
- NOMAD specializes in deployable, utility-grade battery energy storage systems (BESS).
Price Impact
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