SEC Filing Document

Company: ERock, Inc.
Ticker: 
CIK: 2110029
Filing Type: DRS/A
Document Type: DRS/A
Date Filed: 2026-04-01
Accession Number: 0001193125-26-138217
Exchange: 
SIC Code: 3620
SIC Description: Electrical Industrial Apparatus
URL: https://www.sec.gov/Archives/edgar/data/2110029/000119312526138217/filename1.htm

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services arrangements, including customer payment risk; • risks associated with project development, construction, installation, utility interconnection, fuel supply, cost overruns and delays; • reliance on a limited number of customers and the loss of, or adverse developments affecting, major customers; • competition from larger competitors and alternative technologies; Table of Contents • operational and safety risks, including the adequacy of insurance and indemnification arrangements; • geographic concentration of operations, including regulatory, market and weather-related risks in Texas and California; • customer financing constraints and the significant upfront cost of our power systems; • our ability to scale manufacturing and assembly capacity in a timely and cost-effective manner; • disruptions at assembly facilities and dependence on third-party suppliers and supply chains; • the impact of tariffs, trade restrictions and other cost pressures; • compliance with applicable laws, regulations and permitting requirements; • protection of intellectual property, including risks of infringement claims;

• internal control, financial reporting and public company compliance risks;

• cybersecurity, IT and data security risks;

• conflicts of interest and risks related to our Sponsor;

• risks related to our corporate structure; and

• other risks and uncertainties inherent in our business.

These and other important factors that could affect our operating results and performance are described in “Risk
Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” of this prospectus and elsewhere within this prospectus. Should one or more of the risks or uncertainties described in the
documents above or in this prospectus occur, or should underlying assumptions prove incorrect, our actual results, performance, achievements or plans could differ materially from those expressed or implied in any forward-looking statements. All such
forward-looking statements in this prospectus are expressly qualified in their entirety by the cautionary statements in this section.

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ORGANIZATIONAL STRUCTURE

Organizational Structure Prior to the IPO

The diagram below depicts the current organizational structure of ER Holdings.

Organizational Structure Following the Reorganization

Immediately after the transactions associated with the IPO, we will be a holding company, and our sole material assets will be
equity interests held directly or indirectly through wholly owned subsidiaries in ER Holdings. As the managing member of ER Holdings, we will operate and control all of the business and affairs of ER Holdings and, through ER Holdings and its
subsidiaries, conduct our business. The Reorganization lacks economic substance and therefore will be accounted for in a manner consistent with a reorganization of entities under common control. As a result, our consolidated financial statements
will recognize the assets and liabilities received in the Reorganization at their historical carrying amounts, as reflected in the historical consolidated financial statements of ER Holdings, our predecessor. We will consolidate ER Holdings in our
consolidated financial statements and record a non-controlling interest related to the Units held by the Continuing Equity Unitholders on our consolidated balance sheet and statement of income. As further
described herein, prior to the completion of this offering,

(1) the limited liability company agreement of ER Holdings will be amended and restated to, among other things,
modify its capital structure by reclassifying its interests as follows (as further described under “ Organizational Structure—Reclassification and Amendment and Restatement of the Limited Liability Company Agreement of ER
Holdings ” and “ Executive Compensation ”):

• Common and Preferred Units held by the Blocker Companies will be converted into Class A Units; and

• Common and Preferred Units held by the Continuing Equity Unitholders will be converted into Class B
Units;

• the Continuing Equity Unitholders will receive the number of shares of our Class B common stock
equivalent to the number of Class B Units held by each such Continuing Equity Unitholders; and

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• the Blocked Unitholders will receive shares of our Class A common stock pursuant to the Blocker Mergers
as defined and described in “ Organizational Structure—Blocker Mergers .”

The Continuing Equity Unitholders will hold all of the initially outstanding shares of our Class B common stock. The
shares of Class B common stock will have no economic rights but will entitle each holder to one vote for each share held of record on all matters to be voted on by our stockholders generally, with the number of shares of Class B common
stock held by each Continuing Equity Unitholder being equivalent to the number of Class B Units held by each such Continuing Equity Unitholder. If at any time the ratio at which Class B Units are exchangeable for shares of our Class A
common stock changes from one-for-one as described under “Certain Relationships and Related Person Transactions—Proposed Transactions with ERock,
Inc.—Limited Liability Company Agreement,” the number of votes to which Class B common stockholders are entitled will be adjusted accordingly. Holders of shares of our Class B common stock will vote together with holders of
our Class A common stock as a single class on all matters on which stockholders are entitled to vote generally, except as otherwise required by law.

Our post-offering organizational structure, as described above, is commonly referred to as an umbrella partnership-C-corporation (or UP-C) structure. This organizational structure will allow the Continuing Equity Unitholders to retain
their equity ownership in ER Holdings, an entity that is classified as a partnership for U.S. federal income tax purposes, in the form of units. Investors in this offering and the Blocked Unitholders will, by contrast, hold their equity ownership in
ERock, an entity classified as a corporation for U.S. federal income tax purposes, in the form of shares of Class A common stock. We believe that the Continuing Equity Unitholders generally find it advantageous to continue to hold their equity
interests in an entity that is not classified as a corporation for U.S. federal income tax purposes. We do not believe that our UP-C organizational structure will give rise to any significant business or
strategic benefit or detriment to us.

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The diagram below depicts our organizational structure immediately following
the Transactions.

Upon consummation of the Reorganization and immediately prior to the IPO, our pre-IPO owners will hold shares and interests (that may be exchanged) for an aggregate of      shares of Class A common stock and      shares of Class B
common stock, which we refer to as the “diluted pre-IPO shares outstanding,” consisting of (i) issued and outstanding shares of Class B common stock held by the Continuing Equity
Unitholders and (ii) shares of Class A common stock issuable on a one-for-one basis in exchange for Class B Units held by our Continuing Equity
Unitholders.

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Although the relative ownership among these categories of pre-IPO owners and the number of shares of Class A common stock into which their respective interests may be exchanged will depend on the actual offering price, the total diluted
pre-IPO shares outstanding will not change.

Incorporation of ERock

We were incorporated as a Delaware corporation on January 20, 2026 as Enchanted Rock, Inc. Effective March 17, 2026, we
amended our certificate of incorporation to change the name of our Company to ERock, Inc. We have not engaged in any business or other activities except in connection with our formation and the IPO. The amended and restated certificate of
incorporation of us authorizes two classes of common stock, Class A common stock and Class B common stock, each having the terms described in “Description of Capital Stock.”

Reclassification and Amendment and Restatement of the Limited Liability Company Agreement of ER Holdings

Prior to the completion of this offering, the limited liability company agreement of ER Holdings will be amended and restated
to, among other things, modify its capital structure by reclassifying (1) its outstanding Common and Preferred Units held by the Blocker Companies into a new class of membership interests that we refer to as “Class A Units” and
(2) its outstanding Common and Preferred Units held by the Continuing Equity Unitholders into a new class of membership interests that we refer to as “Class B Units” (the “Reclassification”). We refer to the
Reclassification, the amendment and restatement of the limited liability company agreement, the transactions described below under “Blocker Mergers,” and the entry into the Tax Receivable Agreement described below as the
“Reorganization.” As a result of the Reorganization, our pre-IPO owners will hold their ownership interests directly in ER Holdings (in the case of the Continuing Equity Unitholders) or indirectly
in ER Holdings (in the case of the Blocked Unitholders).