SEC Filing Document

Company: ERock, Inc.
Ticker: 
CIK: 2110029
Filing Type: DRS
Document Type: DRS
Date Filed: 2026-02-17
Accession Number: 0001193125-26-054926
Exchange: 
SIC Code: 3620
SIC Description: Electrical Industrial Apparatus
URL: https://www.sec.gov/Archives/edgar/data/2110029/000119312526054926/filename1.htm

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requirements that are applicable to other public companies that are not EGCs. These exemptions include: • being permitted to provide only two years of audited financial statements, in addition to any required unaudited interim financial statements, with correspondingly reduced “Management’s Discussion and Analysis of Financial Condition and Results of Operations” disclosure; • not being required to comply with the auditor attestation requirements in the assessment of our internal control over financial reporting; • not being required to comply with any requirement that may be adopted by the Public Company Accounting Oversight Board (the “PCAOB”) regarding mandatory audit firm rotation or a supplement to the auditor’s report providing additional information about the audit and the financial statements; • reduced disclosure obligations regarding executive compensation; and • exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and obtaining stockholder approval of any golden parachute payments not previously approved.

We may take advantage of
these provisions for up to five years following completion of this offering or such earlier time when we are no longer an EGC. We will cease to be an EGC if we have more than $1.235 billion in annual revenue, have more than $700.0 million
in market value of our capital stock held by non-affiliates or issue more than $1.0 billion of non-convertible debt over a three-year period. We may choose to take
advantage of some, but not all, of the available exemptions. We have taken advantage of some reduced reporting requirements in this prospectus. Accordingly, the information contained herein may be different than the information you receive from
other public companies in which you may hold stock. For a description of the qualifications and other requirements applicable to emerging growth companies and certain elections that we have made due to our status as an emerging growth company, see
“Risk Factors—Risks related to our Corporate Structure, our Class A Common Stock and this Offering—For as long as we are an emerging growth company,

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we will not be required to comply with certain reporting requirements, including those relating to accounting standards and disclosure about our executive compensation, that apply to other
public companies.”

The JOBS Act provides that an EGC may take advantage of an extended transition period for
complying with new or revised accounting standards. We intend to take advantage of all the reduced reporting requirements and exemptions, including the longer phase-in periods for the adoption of new or
revised financial accounting standards under Section 107 of the JOBS Act until we are no longer an emerging growth company. Our election to use the phase-in periods permitted by this election may make it
difficult to compare our financial statements to those of non-emerging growth companies and other emerging growth companies that have opted out of the longer phase-in
periods under Section 107 of the JOBS Act and who will comply with new or revised financial accounting standards. If we were to subsequently elect instead to comply with these public company effective dates, such election would be irrevocable
pursuant to Section 107 of the JOBS Act.

Corporate Information

Our principal executive offices are located at 1113 Vine Street, Suite 101, Houston, Texas 77002. Our website address is
www.enchantedrock.com. We expect to make our periodic reports and other information filed with or furnished to the SEC available, free of charge, through our website, as soon as reasonably practicable after those reports and other information
are electronically filed with or furnished to the SEC. Information contained on our website or linked therein or otherwise connected thereto does not constitute part of and is not incorporated by reference into this prospectus or the registration
statement of which this prospectus forms a part.

Summary of Our Risk Factors

An investment in our Class A common stock involves risks. Among these important risks are the following:

• Our business depends on demand for distributed energy generation in the United States, which is an emerging
and rapidly evolving market. The development of this market, and demand for our power system solutions from data center, utility, C&I, healthcare and retail end markets, is uncertain and may not proceed as we expect. If distributed energy
generation or our power system solutions do not achieve widespread acceptance or demand is lower than anticipated, our business, prospects, financial condition and results of operations could be materially and adversely affected.

• Certain estimates of market opportunity and forecasts of market growth included in this prospectus may prove
to be inaccurate.

• We have incurred significant losses in the past and we may not be able to achieve or sustain profitability in
the future.

• We may not recognize all revenues from our Contracted Power System Sales Backlog or receive all payments
anticipated from our Annualized Recurring Service Revenue. If we do not receive all of the revenue we currently expect to receive, our business, prospects, financial condition and results of operations could be materially and adversely affected.

• Our business is subject to risks that may arise in the course of completing installations, including those
associated with construction, utility interconnection, fuel supply, cost overruns and delays. Because our financial condition, results of operations and reputation depend on the timely installation of our power systems, failures or delays in
completing installations on a regular and timely basis could materially and adversely affect our business.

• We derive a substantial portion of our revenue and Contracted Power System Sales Backlog from a limited number
of customers. The loss of, or events affecting, one of our major customers could reduce our power system sales and have a material adverse effect on our business, financial condition, results of operations and key operating metrics.

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• We face significant competition and many of our competitors are larger and have more resources.

• Our business involves many hazards and operational risks, some of which may not be fully covered by insurance,
customer indemnifications or other liability protections. The occurrence of a significant accident or other event that is not fully covered by insurance, customer indemnifications or other liability protections could curtail our operations and have
a material adverse effect on our business, financial condition and results of operations.

• A significant portion of our revenue is derived from operations in Texas and California, making us vulnerable
to risks associated with geographic concentration generally and Texas and California specifically, including supply and demand factors, regulatory changes and severe weather impacts that could have a material adverse effect on our business.

• Our power systems have significant upfront costs, and, for some customers, they need to attract investors to
help them finance purchases.

• Monetization of our power systems can be affected by interconnection requirements, independent system operator
requirements and utility tariff requirements that are each subject to change. Accordingly, our customers may not receive any benefit from exporting excess electricity or natural gas capacity back to the grid, or from displacing their own load during
peak periods, which could adversely affect demand for our power systems.

• Our future success depends in part on our ability to maintain and increase assembly capacity for our power
systems, and we may not be able to do so in a timely or cost-effective manner. Our limited history of assembling our power systems internally makes it difficult to evaluate our future prospects and the challenges we may encounter.

• Any significant disruption to the operations at our assembly facilities could delay the assembly of our power
systems, which would harm our business and results of operations.

• The failure of our third-party suppliers to deliver the necessary components or materials of our power systems
in a timely manner and to the required specifications could prevent us from delivering our power system solutions within required timeframes and could cause installation delays, cancellations, penalty payments and damage to our reputation.

• Possible new trade tariffs could have a material adverse effect on our business.

• We are subject to laws and regulations that could impose substantial costs upon us and cause delays in the
delivery and installation of our power systems.

• Our failure to protect our intellectual property rights may undermine our competitive position, and litigation
to protect our intellectual property rights may be costly.

• Our patent applications may not result in issued patents, and our issued patents may be successfully
challenged in litigation or post-grant proceedings, either of which may have a material adverse effect on our ability to prevent others from commercially exploiting power system solutions similar to ours.

• We may need to defend ourselves against claims that we infringed, misappropriated or otherwise violated the
intellectual property rights of others, which could divert management’s attention, cause us to incur significant costs and prevent us from selling or using the technology to which such rights relate.