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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of ER Holdings. shares of our Class B common stock and corresponding Class B Units will be owned by the Continuing Equity Unitholders. Voting power of Class A common stock immediately after this offering % (or % if the underwriters exercise in full their option to purchase additional shares of Class A common stock). Voting power of Class B common stock immediately after this offering % (or % if the underwriters exercise in full their option to purchase additional shares of Class A common stock). Upon completion of this offering, the Continuing Equity Unitholders will initially own shares of Class B common stock, representing % of the voting power of ERock, Inc. Voting rights We have two classes of authorized common stock: Class A common stock and Class B common stock. Each share of Class A common stock and Class B common stock will entitle the holder to one vote.

Holders of our Class A common stock and Class B common stock will vote together as a single class on
all matters presented to our stockholders for their vote or approval, except as otherwise provided in our amended and restated certificate of incorporation or as required by applicable law. See “Description of Capital Stock.” When a
Class B stockholder exchanges Class B Units of ER Holdings for the corresponding number of shares of our Class A common stock or, at our election, for cash, it will result in the automatic cancellation of the corresponding number of
shares of our Class B common stock and,

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therefore, will decrease the aggregate voting power of our Class B stockholders. See “Description of Capital Stock—Common Stock.”

Use of proceeds	We expect to receive approximately $   of net proceeds from this offering (or $   if the underwriters exercise
in full their option to purchase additional shares of our Class A common stock), based upon the assumed initial public offering price of $   per share (which is the midpoint of the price range set forth on the cover page of
this prospectus), after deducting underwriting discounts and estimated offering expenses payable by us. See “Underwriting.”

We intend to use $   of the net proceeds of this offering to
purchase    Class A Units from ER Holdings at a per interest purchase price equal to the per share price paid by the underwriters for our Class A common stock in this offering. We intend to cause ER Holdings to use the
net proceeds of such purchase to repay approximately $   of the outstanding indebtedness under the 2025 Term Loan.

We intend to use approximately (i) $   , or approximately $   if the underwriters
exercise in full their option to purchase additional shares of Class A common stock, of the net proceeds from this offering to purchase Class B Units (and Class B Units converted from Class M Units) from certain of the pre-IPO
owners of ER Holdings, at a per unit price equal to the per share price paid by the underwriters for our Class A common stock in this offering and (ii) approximately $   , or approximately $   if the underwriters
exercise in full their option to purchase additional shares of Class A common stock, of the net proceeds to pay the cash consideration to Blocked Unitholders in connection with the Blocker Mergers. Accordingly, we will not retain any of this
portion of the proceeds.

We intend to cause ER Holdings to use the remaining net proceeds for general
corporate purposes, which may include deployment and manufacturing capacity, furthering commercialization of our power systems and expanding our product and services offerings.

Please see “Use of Proceeds” for a more complete description of the intended use of proceeds from
this offering.

Dividend policy	We currently anticipate that we will retain all future earnings, if any, to finance the growth and development of our business. We do
not intend to pay cash dividends in the foreseeable future. Our future dividend policy is within the discretion of our board of directors and will depend upon then-existing conditions, including our results of operations, financial condition,
capital requirements, investment opportunities, statutory restrictions on our ability to pay dividends, restrictions in our existing and any future debt agreements and other factors our board of directors may deem relevant. See “Dividend
Policy.”

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Redemption Right	The Enchanted Rock Holdings, LLC Agreement will entitle the Continuing Equity Unitholders and the Continuing Profits Interest
Unitholders to cause ER Holdings to acquire Class B Units (and Class B Units converted from Class M Units), along with, in the case of the Continuing Equity Unitholders, the cancellation of an equal number of shares of Class B common
stock, for shares of our Class A common stock on a one-for-one basis or, at our election, for cash. Where applicable, when a Class B Unit is redeemed for a
share of our Class A common stock, the corresponding share of our Class B common stock will automatically be canceled. We have reserved for issuance shares of our Class A common stock, which is the aggregate number of shares of our
Class A common stock expected to be issued over time upon the redemption by the holders of Class B Units, assuming we do not elect to redeem such Class B Units for cash.

Enchanted Rock Holdings, LLC Agreement	Upon completion of the Reorganization, ERock (or one of its wholly owned subsidiaries) will become the sole managing member of ER
Holdings pursuant to the Enchanted Rock Holdings, LLC Agreement. As such, ERock will operate and control all of the business and affairs of ER Holdings and, through ER Holdings and its subsidiaries, conduct our business.

See “Certain Relationships and Related Person Transactions—Proposed Transactions with ERock,
Inc.—Limited Liability Company Agreement.”

Tax Receivable Agreement	ERock and ER Holdings will enter into the Tax Receivable Agreement for the benefit of the TRA Beneficiaries, pursuant to which ERock
will pay 85% of the amount of the net cash tax savings, if any, that ERock is deemed to realize as a result of (i) certain increases in the tax basis of assets of ER Holdings and its subsidiaries resulting from exchanges of ER Holdings
Class B Units in the future, (ii) certain tax attributes available to us as a result of the Reorganization and (iii) certain other tax benefits related to ERock entering into the Tax Receivable Agreement, including tax benefits
attributable to payments that ERock makes under the Tax Receivable Agreement. We expect that the payments that we may be required to make under the Tax Receivable Agreement may be substantial. Such payments will reduce the cash provided by the tax
savings generated from the previously described transactions with ER Holdings and the TRA Beneficiaries that would otherwise have been available for other uses, including reinvestment or dividends to holders of our Class A common stock. See
“Organizational Structure” and “Certain Relationships and Related Person Transactions—Proposed Transactions with ERock, Inc.—Tax Receivable Agreement.”

Risk factors	You should carefully read and consider the information set forth in the section entitled “Risk Factors” beginning on
page 35, together with all of the other information set forth in this prospectus, before deciding whether to invest in our Class A common stock.

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Directed share program	At our request, the underwriters have reserved 5% of the shares of our Class A common stock to be issued by ERock and offered by this
prospectus for sale, at the initial public offering price, to directors, officers, employees, and other designated individuals. If purchased by persons who have entered into lock-up agreements with the underwriters, these shares will be subject to a
180-day lock-up restriction. The number of shares of our Class A common stock available for sale to the general public will be reduced to the extent these individuals purchase such reserved shares. Any reserved shares that are not so purchased will
be offered by the underwriters to the general public on the same basis as the other shares offered by this prospectus. Sales pursuant to the directed share program will be made by Morgan Stanley & Co. LLC (the “DSP
Underwriter”). We have agreed to indemnify the DSP Underwriter in connection with the directed share program, including for the failure of any participant to pay for its shares. Other than the underwriting discounts and commissions listed on
the cover of this prospectus, the underwriters will not be entitled to any commissions with respect to shares of Class A common stock sold pursuant to the directed share program. See “ Underwriting—Directed Share
Program .”

Listing and trading symbol	We intend to apply to list our Class A common stock on the NYSE under the symbol “EROC.”

Unless otherwise noted, Class A common stock outstanding after the offering and other information based thereon in this
prospectus does not reflect any of the following:

• shares of Class A common stock reserved for issuance upon the exchange of
Class B Units that will be held by Class B stockholders following the completion of this offering;