Hydraulic thermal power reactor plant developer KiNRG sets its IPO price at $4-5 per share, aiming to raise $17 million.

KiNRG, a developer of geothermal reactor power plants with data center construction capabilities, has submitted an application to the U.S. Securities and Exchange Commission (SEC) for an IPO to raise up to $17 million. The company plans to issue 3.8 million shares at a price between $4 and $5 per share, aiming to raise $17 million. Based on the midpoint of the proposed price range, KiNRG's fully diluted market capitalization would reach $298.9 million. KiNRG is an early-stage company focused on planning, designing, licensing, financing, and constructing its patented renewable geothermal reactor projects. This project harnesses environmental heat and evaporative cooling dynamics within a tower structure to create descending airflow, thereby driving turbines for power generation. After acquiring TRINITY on April 1, 2026, the company also expanded its business to include commercial construction and infrastructure services primarily targeting the data center industry. Founded in 2010, the company achieved $257 million in revenue in the 12 months ending December 31, 2025. KiNRG plans to list on the NYSE American but has not yet determined a stock ticker symbol. The company submitted its confidential listing application on June 12, 2026. R.F. Lafferty & Co. is the exclusive underwriter for this transaction.