aibioLIXTE to lend $6.5 million to NOMAD before the acquisition closes
Tickers NMAD
The loan funds long-lead components and working capital ahead of an acquisition that the companies expect to close on or about July 1, 2026.
Key facts
- Company
- NOMAD POWER SOLUTIONS, INC. (NASDAQ: NMAD)
- News type
- Company Updates
- Primary source
- NOMAD POWER SOLUTIONS, INC. 8-K (2026-06-18)
LIXTE Biotechnology Holdings, Inc. (NASDAQ: LIXT) said on June 18, 2026 that it will loan $6.5 million to NOMAD Transportable Power Systems, Inc. before the closing of its agreement to acquire 100% of that company. LIXTE expects the acquisition to close on or about July 1, 2026, subject to customary closing conditions and required approvals.
The pre-closing loan
The release says the loan proceeds will fund the procurement of long-lead components against NOMAD's active order pipeline. The proceeds will also support working capital while NOMAD scales manufacturing to meet customer demand. LIXTE says deploying capital ahead of closing is designed to let NOMAD convert its growing backlog into delivered systems without interruption to its production cadence.
Geordan Pursglove, LIXTE's Chief Executive Officer, said: "This loan allows NOMAD to keep pace with its order book and continue scaling without delay as we move toward completing the transaction." He described the decision as a sign of the company's conviction in NOMAD's platform.
Name and ticker change
Upon closing, and subject to required approvals, the company will be renamed NOMAD Power Solutions, Inc. It will begin trading on the Nasdaq Stock Market under a new ticker symbol, which the release says will be announced later. The release says the new identity reflects the company's focus on the power-availability constraint facing utilities, industrial operators and the data center market.
NOMAD's business
The release calls NOMAD Transportable Power Systems a market leader in deployable, utility-grade battery power infrastructure across North America. It describes NOMAD as a mobile, utility-grade battery platform used alongside investor-owned utilities, electric cooperatives, municipal utilities and large industrial energy users. It says the platform's mobility lets megawatt-scale storage be deployed in real time. In data center environments, the release says the combination of utility-grade reliability, near-instantaneous response and rapid mobile deployment suits AI compute and high-density data infrastructure.
John Travaglini, Chief Executive Officer of NOMAD Transportable Power Systems, said the company has built over the last six years a mobile utility-grade battery platform engineered to the standards that utilities and hyperscale operators require. He said demand from AI infrastructure and data center customers confirms that deployable storage is becoming an essential layer of the modern grid.
LIXTE's own business
LIXTE describes itself as a clinical-stage pharmaceutical and med-tech company focused on new targets for cancer drug development. Its lead compound, LB-100, is described as a first-in-class PP2A inhibitor that is well-tolerated in cancer patients at doses associated with anti-cancer activity. Proof-of-concept clinical trials are in progress for Ovarian Clear Cell Carcinoma, Metastatic Colon Cancer and Advanced Soft Tissue Sarcoma.
Through its wholly owned subsidiary, Liora Technologies Europe Ltd., LIXTE is developing electronically controlled proton therapy systems. The release names the LiGHT System as Liora's flagship technology.
Financial position
The company's XBRL financial data, as filed with its annual report, lists research and development expense of $254,919 for fiscal 2025 and $726,232 for fiscal 2024. Net income (loss) was negative $6.1 million for 2025 and negative $3.6 million for 2024. Cash from operations was negative $3.1 million for 2025 and negative $3.2 million for 2024.
The risks ahead
The acquisition has not closed. The company says it expects closing on or about July 1, 2026, subject to customary closing conditions and required approvals, and the new ticker is still to be announced. The $6.5 million loan goes to a business whose backlog and order pipeline the release describes without figures. LIXTE's own annual figures show a net loss of negative $6.1 million for 2025 and cash from operations of negative $3.1 million. Its cancer trials are proof-of-concept studies still in progress, and its forward-looking statements carry risks and uncertainties.