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Reg D 506(c)TRL43.34.7Tier IOpen

Kestrel Fast Systems

A lead-bismuth fast reactor that eats spent fuel. Accredited investors only.

Spent fuel is only waste if you cannot burn it. A fast spectrum can, and lead-bismuth eutectic gives high boiling point coolant at atmospheric pressure. Kestrel has validated cladding compatibility in a flowing loop at temperature. The offering runs concurrently with a Reg CF community round planned for the Richland host community, permitted under Rule 152.

Columbia Basin Technology Park · Richland, WAPre-applicationEscrow: Meridian Trust, N.A.
TRL 4 of 9, band 3.3 to 4.7, signed by Dr. Helena Vargas-Mbeki, PE, Nuclear; former NRC senior reactor analyst, on Apr 20, 2026.See the evidence it rests on

$18,050,000 committed of $25,000,000

$5,415,000 released · 72% subscribed

Released to the issuerCommitted, held in escrowRemaining
Minimum
$25,000

$1,000 per unit

Target coupon
5.00%

Annual, fixed

Term
5 yr
Investors
74

Closes September 30, 2026 · 17 days remaining

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No payment processor is connected. The commitment flow runs end to end, through amount, agreement, signature and receipt, and records a simulated position rather than a charge.

Instrument and terms

Instrument
Convertible note
Risk tier
Tier I · Emerging Technology
Target coupon
5.00%
Expected term
5 yr
Price per unit
$1,000
Minimum investment
$25,000
Target raise
$25,000,000
Opens
February 10, 2026
Closes
September 30, 2026
Escrow agent
Meridian Trust, N.A.

Regulatory rail

Exemption
Regulation D, Rule 506(c)
Offering ceiling
Unlimited
Who can buy
Verified accredited investors only
Resale
Restricted
Resale restriction
12 months
Residency
No restriction
Accreditation
Verified accredited only

Secondary tradingComing soon

Freely tradable does not mean there is a market. An alternative trading system for platform securities is planned and is not operational.