Recent Updates — LIXT
Nomad Power Solutions announced the launch of its 2026 Nationwide Mobile Power Demonstration Tour, bringing its Voyager and Voyager Falcon transportable battery energy storage systems to 26 locations in the Mountain West, Northeast, and Southwest during October and November. The initiative aims to showcase rapidly deployable, utility-grade power capabilities to prospective customers, including utilities, data center developers, and industrial operators. The company operates in the energy storage sector, providing mobile battery solutions for grid modernization and infrastructure support.
On September 28, 2026, Nomad Power Solutions entered into a Note Purchase Agreement with an accredited investor to issue $6.57 million in Original Issue Discount Secured Promissory Notes for gross proceeds of $6.0 million. The notes carry a 9% annual interest rate and mature 12 months from the purchase price date. The company paid $30,000 in fees and granted a security interest in its assets, including equity interests, goods, equipment, and accounts receivable, under a Security Agreement. Wholly owned subsidiaries Lixte Biotechnolgy, Inc. and Liora Technologies Europe Ltd. executed Guaranty Agreements to secure the indebtedness. The investor holds redemption rights starting at the six-month anniversary, allowing up to $800,000 in monthly redemptions with two trading days' notice for payment. Nomad Power Solutions operates in the power solutions industry.
Nomad Power Solutions, Inc. filed an amendment to its Initial 8-K dated July 2, 2026, to include risk factors, a business overview, and historical financial statements for Nomad Transportable Power Systems, Inc., following the closing of their merger on July 1, 2026. The acquisition was accounted for as a reverse acquisition with Nomad as the accounting acquirer. NOMAD reported a net loss of $8,401 thousand and a stockholders' deficit of $11,748 thousand for the year ended December 31, 2025, raising substantial doubt about its ability to continue as a going concern due to negative cash flows and only $156 thousand in cash. The company develops and sells utility-scale mobile energy storage systems.
Lixte Biotechnology Holdings, Inc. consummated a merger with NOMAD Transportable Power Systems, Inc. on July 1, 2026, issuing 2,992,041 common shares and 50,366.07 shares of Series D Convertible Preferred Stock. The company is changing its name to Nomad Power Solutions, Inc. and its ticker symbol to NMAD on July 6, 2026. The company operates in the power systems industry and provides transportable power solutions.
On June 17, 2026, Lixte Biotechnology Holdings, Inc. issued a $6,500,000 Secured Promissory Note to NOMAD Transportable Power Systems, Inc. in connection with a previously announced merger agreement. The funds are designated to repay NOMAD's outstanding obligations to BPCP Investment Holdings, LP and for NOMAD's working capital. The Note is secured by a first-priority security interest in substantially all of NOMAD's assets and matures in 30 days, with automatic 30-day extensions while the Merger Agreement remains active. Upon closing of the merger, the principal will be offset against amounts deliverable to NOMAD. Lixte Biotechnology Holdings, Inc. operates in the biotechnology industry.
On June 11, 2026, Lixte Biotechnology Holdings, Inc. entered into a merger agreement to acquire Nomad Transportable Power Systems, Inc. through a merger subsidiary. Consideration for Nomad shares includes up to 50,500 shares of Series D Convertible Preferred Stock (issue price $1,000 per share, convertible to 50,500,000 common shares at $1.00 per share) and up to 3,000,000 shares of common stock. Closing conditions include Lixte maintaining at least $16,500,000 in unrestricted cash, the appointment of John Travaglini as CEO of the merger sub and to the Board, and stockholder approval for the preferred stock conversion and authorized share increase. Unaccredited Nomad stockholders will receive cash based on a 60-day volume-weighted average price. The company operates in the biotechnology industry.