SEC Filing Document

Company: ERock, Inc.
Ticker: 
CIK: 2110029
Filing Type: S-1
Document Type: S-1
Date Filed: 2026-05-15
Accession Number: 0001193125-26-227199
Exchange: 
SIC Code: 3620
SIC Description: Electrical Industrial Apparatus
URL: https://www.sec.gov/Archives/edgar/data/2110029/000119312526227199/d12401ds1.htm

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liquid debt instruments purchased with an original maturity of three months or less to be cash and cash equivalents. Income Taxes The Company is treated as a subchapter C corporation, and therefore, is subject to both federal and state income taxes. The LLC continues to be recognized as a limited liability company, a pass-through entity for income tax purposes. NOTE 3 - STOCKHOLDER’S EQUITY January 20, 2026, the Company was authorized to issue 1,000 shares of common stock, $0.01 par value. On January 21, 2026, the Company issued 1,000 shares for $10.00, all of which are owned by ERock Holdings, Ltd. NOTE 4 - SUBSEQUENT EVENTS The Company has evaluated subsequent events through May 15, 2026, the date on which the balance sheet was available to be issued. Table of Contents REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Sole Director of ERock, Inc. Opinion on the Financial Statement

We have audited the accompanying balance sheet of ERock, Inc. (the “Company”) as of
January 21, 2026, and the related notes (collectively referred to as the “financial statement”). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of
January 21, 2026, in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinion

This financial statement is the responsibility of the Company’s management. Our responsibility is to express an opinion on the
Company’s financial statement based on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in
accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statement is free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial
reporting. As part of our audit, we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control over financial
reporting. Accordingly, we express no such opinion.

Our audit included performing procedures to assess the risks of material misstatement
of the financial statement, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statement. Our
audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statement. We believe that our audit provide a reasonable basis for our
opinion.

/s/ Deloitte & Touche LLP

Houston, TX

April 1, 2026

We have served as the Company’s auditor since 2026.

Table of Contents

ERock, Inc.

Balance Sheet

As of January 21, 2026

ASSETS

Current assets:

Cash $	10

Total assets $	10

Commitments and contingencies

STOCKHOLDER’S EQUITY

Common stock, $0.01 par value, 1,000 shares authorized, issued and outstanding $	10

Total Stockholder’s equity $	10

See accompanying notes to the balance sheet.

Table of Contents

ERock, Inc.

Notes to the Balance Sheet

NOTE 1 -
ORGANIZATION AND BACKGROUND

ERock Inc. (“the Company”) was incorporated in Delaware on January 20, 2026. Pursuant to
a reorganization into a holding company structure, the Company will be a holding company, and its principal asset will be an indirectly held controlling equity interest in Enchanted Rock Holdings, LLC (the “LLC”). Through the
Company’s ability to appoint the board of managers of the LLC, the Company will operate and control all of the business and affairs of the LLC, and through the LLC and its subsidiaries, conduct the Company’s business.

Basis of Presentation

The balance sheet
has been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”). Statements of income, stockholder’s equity and cash flows have not been presented because the Company has not engaged in any business
or other activities except in connection with its formation.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Cash

The Company considers cash on hand,
cash in banks, and other highly liquid debt instruments purchased with an original maturity of three months or less to be cash and cash equivalents.

Income Taxes

The Company is treated as a
subchapter C corporation, and therefore, is subject to both federal and state income taxes. The LLC continues to be recognized as a limited liability company, a pass-through entity for income tax purposes.

NOTE 3 - STOCKHOLDER’S EQUITY

January 20, 2026, the Company was authorized to issue 1,000 shares of common stock, $0.01 par value. On January 21, 2026, the Company issued 1,000 shares for $10.00, all of which are owned by ERock Holdings, Ltd.

NOTE 4 - SUBSEQUENT EVENTS

The Company
has evaluated subsequent events through April 1, 2026, the date on which the audited balance sheet was available to be issued.

Table of Contents

Enchanted Rock Holdings, LLC

Condensed Consolidated Balance Sheets (Unaudited)

As of March 31, 2026 and December 31, 2025

(in thousands, except unit value amounts)

March 31, 2026 December 31, 2025

Assets

Current assets:

Cash and cash equivalents $	300,508 $	108,097

Accounts receivable, net 107,015 33,762

Inventory 60,701 43,681

Contract assets 10,786 15,964

Prepaid expenses 15,580 8,799

Other current assets 6,552 6,567

Total current assets 501,142 216,870

Property and equipment, net 30,677 27,545

Right-of-use
assets, net 24,774 10,832

Other assets 7,484 2,649

Total assets $	564,077 $	257,896

Liabilities and Equity

Current liabilities:

Accounts payable $	27,909 $	16,549

Accrued liabilities and other payables 19,986 26,235

Contract liabilities 471,215 170,025

Operating lease liabilities 3,901 3,343

Deferred income 20,294 24,598

Other current liabilities 351 344

Total current liabilities 543,656 241,094

Notes payable 63,202 59,984

Noncurrent lease liabilities 25,915 8,019

Noncurrent deferred income 11,726 10,819

Other noncurrent liabilities 992 3,407

Total liabilities $	645,491 $	323,323

Commitments and contingencies (Note 17)

Mezzanine equity:

Series A preferred units (163,975 units authorized, issued and outstanding at March 31, 2026
and December 31, 2025) 47,506 46,690

Total mezzanine equity 47,506 46,690

Members’ equity:

Common units (216,002 units issued and outstanding at March 31, 2026 and December 31,

Noncontrolling interest 38 38

Total members’ equity (128,920	) (112,117	)

Total liabilities and equity $	564,077 $	257,896

The accompanying notes are an integral part of these condensed consolidated financial statements.

Table of Contents

Enchanted Rock Holdings, LLC

Condensed Consolidated Statements of Operations (Unaudited)

For the three months ended March 31, 2026 and 2025

(in thousands, except unit and per unit amounts)

Three Months Ended March 31,

Power system sales product revenues $	5,157 $	6,072

Power system sales installation services revenues 10,765 7,960

Power system sales revenues 15,922 14,032

Ongoing services revenues 15,814 10,077

Total revenues 31,736 24,109

Cost of power system sales product revenues, excluding depreciation and amortization 3,779 5,428

Cost of power system sales installation services revenues, excluding depreciation and
amortization 8,230 5,848

Cost of power system sales revenues, excluding depreciation and amortization 12,009 11,276

Cost of ongoing services revenues, excluding depreciation and amortization 13,234 9,137

Total cost of revenues, excluding depreciation and amortization 25,243 20,413

General and administrative expenses 20,943 16,866

Depreciation and amortization expense 1,301 1,056

Loss from operations (15,751	) (14,226	)

Interest expense (1,451	) (1,978	)

Other income, net 551 284

Loss before income taxes (16,651	) (15,920	)

Income tax expense (561	) (17	)

Net loss (17,212	) (15,937	)

Deemed dividend related to Series A preferred units (816	) (755	)

Net loss attributable to common units $	(18,028	) $	(16,692	)

Net loss per common unit

Basic $	(83.46	) $	(77.28	)

Diluted $	(83.46	) $	(77.28	)

Weighted average common units outstanding

Basic 216,002 216,002

Diluted 216,002 216,002

The accompanying notes are an integral part of these condensed consolidated financial statements.

Table of Contents

Enchanted Rock Holdings, LLC

Condensed Consolidated Statements of Changes in Mezzanine Equity and Members’ Equity (Unaudited)

For the three months ended March 31, 2026 and 2025

(in thousands, except unit amounts)

Mezzanine Equity Members’ Equity

Series A Preferred Units Common Units

Number of Units Mezzanine Equity Number of Units Members’ Equity Noncontrolling Interest Total Members’ Equity

Balance at December 31, 2025 163,975 $	46,690 216,002 $	(112,155	) $	38 $	(112,117	)

Net loss — — — (17,212	) — (17,212	)

Stock-based compensation — — — 1,225 — 1,225

Deemed dividend related to Series A preferred units — 816 — (816	) — (816	)

Balance at March 31, 2026 163,975 $	47,506 216,002 $	(128,958	) $	38 $	(128,920	)

Mezzanine Equity Members’ Equity

Series A Preferred Units Common Units

Number of Units Mezzanine Equity Number of Units Members’ Equity Noncontrolling Interest Total Members’ Equity