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

Chunk 87 of 104
Word Count: 1496
Character Count: 10025

Document Content:

for the underwriters by Davis Polk & Wardwell LLP, New York, New York. EXPERTS The balance sheet of ERock, Inc. as of January 21, 2026, included in this Prospectus, has been audited by Deloitte & Touche LLP, an independent registered public accounting firm, as stated in their report. Such balance sheet is included in reliance upon the report of such firm given their authority as experts in accounting and auditing. The financial statements of Enchanted Rock Holdings, LLC as of December 31, 2025 and 2024, and for each of the two years in the period ended December 31, 2025, included in this prospectus have been audited by Deloitte & Touche LLP, an independent registered public accounting firm, as stated in their report. Such financial statements are included in reliance upon the report of such firm given their authority as experts in accounting and auditing. WHERE YOU CAN FIND ADDITIONAL INFORMATION

We have filed with the SEC a registration statement on Form S-1 under the Securities
Act relating to the shares of our Class A common stock offered by this prospectus. This prospectus, which constitutes a part of the registration statement, does not contain all of the information set forth in the registration statement or the
exhibits and schedules thereto. For more information regarding us and the shares of our Class A common stock offered by this prospectus, we refer you to the full registration statement, including the exhibits and schedules filed therewith. This
prospectus summarizes certain provisions of certain contracts and other documents filed as exhibits to which we refer you. Because the summaries may not contain all of the information that you may find important, you should review the full text of
those documents.

The SEC maintains a website at www.sec.gov that contains reports, information statements and
other information regarding issuers that file electronically with the SEC. Our registration statement, of which this prospectus constitutes a part, can be downloaded from the SEC’s website. As a result of the offering, we will become subject
to the reporting requirements of the Exchange Act and will file with or furnish to the SEC periodic reports and other information. We intend to furnish or make available to our stockholders annual reports containing our audited financial statements
prepared in accordance with GAAP. We also intend to furnish or make available to our stockholders quarterly reports containing our unaudited interim financial information, for the first three fiscal quarters of each fiscal year. Our website is
located at www.enchantedrock.com. Following the completion of this offering, we intend 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 nor is it incorporated by
reference into this prospectus or the registration statement of which this prospectus forms a part.

Table of Contents

INDEX TO FINANCIAL STATEMENTS

Page

ERock, Inc.

Unaudited Pro Forma Condensed Consolidated Financial Information

Introduction F-2

Unaudited Pro Forma Condensed Consolidated Balance Sheet as of December 31,

Unaudited Pro Forma Condensed Consolidated Statement of Operations for the Year
Ended December 31, 2025 F-4

Notes to the Unaudited Pro Forma Condensed Consolidated Financial Information F-5

ERock, Inc.

Audited Financial Statement

Report of Independent Registered Public Accounting Firm F-7

Balance Sheet as of January 21, 2026 F-8

Notes to Balance Sheet F-9

Enchanted Rock Holdings, LLC

Audited Financial Statements

Report of Independent Registered Public Accounting Firm F-10

Consolidated Balance Sheets as of December 31, 2025 and

Consolidated Statements of Operations for the Years Ended December
31, 2025 and 2024 F-12

Consolidated Statements of Changes in Mezzanine Equity and Members’ Equity
for the Years Ended December 31, 2025 and 2024 F-13

Consolidated Statements of Cash Flows for the Years Ended December
31, 2025 and 2024 F-14

Notes to Consolidated Financial Statements F-15

Table of Contents

EROCK, INC.

UNAUDITED PRO FORMA CONDENSED CONSOLIDATED FINANCIAL INFORMATION

Introduction

ERock, Inc. (the “Company”) was formed in January 2026 and will have no assets or operations prior to
reorganization completed in connection with this offering (the “IPO”). The unaudited pro forma condensed consolidated balance sheet as of December 31, 2025, and the unaudited pro forma condensed consolidated statement of operations
for the year ended December 31, 2025, present the historical financial statements of Enchanted Rock Holdings, LLC (“ER Holdings”) on a pro forma basis to give effect to the following transactions (collectively, the
“Transactions”):

• the contemplated transactions described under “Organizational Structure—The Reorganization”
elsewhere in this prospectus (the “Reorganization”);

• the initial public offering of shares of Class A common stock of the Company and the use of the net
proceeds therefrom as described in “Use of Proceeds” elsewhere in this prospectus;

• a provision for corporate income taxes at an effective rate of    % (which is derived
from a total estimated rate of    % for ER Holdings, reduced by the estimated noncontrolling interest of    %) for the year ended December 31, 2025, inclusive of all U.S. federal, state and local
income taxes; and

• the entry into a Tax Receivable Agreement in connection with the IPO, which generally provides for a payment
by us for 85% of the amount of the net cash tax savings, if any, that we are deemed to realize.

The
unaudited condensed consolidated pro forma balance sheet as of December 31, 2025 gives pro forma effect to the Transactions as if they had occurred on December 31, 2025. The unaudited pro forma condensed consolidated statement of
operations for the year ended December 31, 2025 gives pro forma effect to the Transactions as if they had occurred on January 1, 2025. The unaudited pro forma condensed consolidated financial statements have been prepared in accordance
with Article 11 of Regulation S-X, as amended.

The unaudited pro forma
consolidated financial statements have been prepared on the basis that the Company will be taxed as a corporation under the Internal Revenue Code of 1986, as amended, and as a result, will become a tax-paying
entity subject to U.S. federal and state income taxes, and should be read in conjunction with “Organizational Structure—The Reorganization,” “Management’s Discussion and Analysis of Financial Condition and Results of
Operations,” “Certain Relationships and Related Person Transactions—Proposed Transactions with ERock, Inc.—Tax Receivable Agreement” and with the audited historical consolidated financial statements and related notes of
ER Holdings and the unaudited interim condensed consolidated statement of operations of ER Holdings, each included elsewhere in this prospectus.

The pro forma data presented reflect events directly attributable to the described transactions and certain assumptions the
Company believes are reasonable. The pro forma information is not necessarily indicative of financial results that would have been attained had the described transactions occurred on the dates indicated above or which could be achieved in the future
because they necessarily exclude various operating expenses, including, among other things, increased directors’ and officers’ liability insurance premiums, director fees, fees associated with compliance with Securities and Exchange
Commission reporting requirements, transfer agent fees, costs related to hiring additional accounting, legal and administrative personnel, increased auditing and legal fees, and similar expenses. The adjustments are based on currently available
information and certain estimates and assumptions. Therefore, the actual adjustments may differ from the pro forma adjustments. However, management believes that the assumptions provide a reasonable basis for presenting the significant effects of
the transactions as contemplated and that the pro forma adjustments give appropriate effect to those assumptions and are properly applied in the unaudited pro forma condensed consolidated financial statements.

Table of Contents

EROCK, INC.

UNAUDITED PRO FORMA CONDENSED CONSOLIDATED BALANCE SHEET

AS OF DECEMBER 31, 2025

Dollars in thousands, unless otherwise noted

Historical Enchanted Rock Holdings, LLC Pro Forma Adjustments Pro Forma ERock, Inc.

Assets

Current assets:

Cash and cash equivalents $	108,097 $ (a	) $

Accounts receivable, net 33,762

Inventory 43,681

Contract assets 15,964

Prepaid expenses 8,799

Other current assets 6,567

Total current assets 216,870

Property and equipment, net 27,545

Right-of-use
assets, net 10,832

Other assets 2,649 (b	)

Total assets $	257,896 $ $

Liabilities and Equity

Current liabilities:

Accounts payable $	16,549 $ $

Accrued liabilities and other payables 26,235

Contract liabilities 170,025

Operating lease liabilities 3,343

Deferred income 24,598

Other current liabilities 344 (d	)(f)

Total current liabilities $	241,094 $

Notes payable 59,984

Noncurrent lease liabilities 8,019

Payable to related parties pursuant to Tax Receivable Agreements —

Noncurrent deferred income 10,819

Other noncurrent liabilities 3,407

Total liabilities $	323,323 $ $

Commitments and contingencies (Note 17)

Mezzanine equity:

Series A preferred units (163,975 units authorized, issued, and outstanding at December 31,
2025 and 2024) 46,690

Total mezzanine equity 46,690

Members’ equity:

Common units (216,002 units issued and outstanding at December 31, 2025 and 2024) (112,155	) (d	)

Noncontrolling interest 38 (e	)

Total members’ equity $	(112,117	) $

Total liabilities and equity $	257,896 $ $