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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We are investing in new assembly capacity and diversifying our supply chain to support growth, expand margins and enhance product availability. Because we control the design, engineering and certification of our power systems, we are working to incorporate field experience into the engineering of our products to improve reliability and lower cost by optimizing the components used in our generator. These optimizations can enhance product performance, reduce component and manufacturing costs, improve ease of assembly and lower the potential for rework incidents. As we seek to scale our manufacturing capacity, we intend to further diversify our supplier base and transition additional high-margin components to in-house assembly to improve supply-chain certainty and reduce cost. Enhance Core Technology to Deliver More. We are committed to the continued innovation of our generator and power systems platform. Building on the success of our RockBlock systems, we are seeking to enhance our Table of Contents

core capabilities and address emerging applications and by integrating advanced technologies such as storage and turbines to enhance our platform’s flexibility and address a broader range
of customer needs as our target markets mature. As part of these efforts, we expect to continue to increase the prime power rating of our current generator platform based on data gathered from assembly operations, supporting an increase in power
density at customer sites. We are also pursuing improvements to simplify and extend the intervals between preventative maintenance activities, and, by leveraging Granite, we are seeking to move away from fixed, hour-based maintenance schedules to
variable maintenance intervals based on actual usage patterns.

Deepen Integration with Renewables. We are seeking
to further incorporate renewable power capabilities with our power systems. Integrating our power systems with renewable energy generation and storage systems could enhance the speed at which our power systems could be deployed because existing
interconnection can be used to bypass interconnection queues, further strengthening our speed-to-power solution. Combining our power systems with renewable energy
generation and storage systems can also enable customers to potentially maximize their use of renewable power by prioritizing the output of renewables when available and then leveraging the dispatch capabilities during periods when renewable sources
are unavailable or producing less, which supports grid reliability while reducing emissions. Battery energy storage systems can complement this strategy by providing additional dispatch capability, supporting stable and efficient delivery of power.

Expand Granite Software Ecosystem and O&M and Asset Management Services. We are investing in the
continued development of our Granite software platform, which provides real-time monitoring, high-resolution data collection and analytics that support predictive diagnostics and dynamic asset optimization. These capabilities directly enable and
enhance the delivery of our O&M and asset management services. Granite collects and analyzes far more data points than typical monitoring systems, allowing it to more quickly detect short-term performance variability, long-term operational
trends and unit-to-unit outliers across a site or fleet, which supports predictive maintenance by identifying developing issues earlier and allowing repairs to be scheduled during planned maintenance windows, reducing unplanned outages and lowering
lifecycle costs. By packaging our O&M and asset-management services with Granite for third-party asset owners, we aim to create long-term recurring revenue streams that grow alongside our installed base as well as enhance customer value through
greater operational efficiency and improved asset performance.

Organizational Structure

We currently conduct our business through ER Holdings and its subsidiaries.

Prior to the completion of this offering, we intend to undertake certain transactions as part of a reorganization (the
“Reorganization”) described under “Organizational Structure” below. Immediately following the Reorganization and this offering, we will be a holding company and our sole material asset will be all of the Class A
membership interests of ER Holdings, which we will hold either directly or indirectly through one or more wholly owned subsidiaries. We, or our wholly-owned subsidiary, will be the managing member of ER Holdings, will control all of ER
Holdings’ business and affairs, and will be able to consolidate the financial results of ER Holdings into our financial statements. Our organizational structure is commonly referred to as an UP-C
structure, which is often used by partnerships and limited liability companies undertaking an initial public offering. The UP-C structure permits the pre-IPO owners of
ER Holdings to continue to own interests in a pass-through structure and both provides potential future tax benefits for us and economic benefits for the pre-IPO owners when the Class B Units of ER
Holdings held by the pre-IPO owners are exchanged for shares of our Class A common stock.

In connection with this offering, we will enter into a Tax Receivable Agreement (the “Tax Receivable Agreement”)
for the benefit of certain Continuing Equity Unitholders and Blocked Unitholders (the “TRA Beneficiaries”). Pursuant to the Tax Receivable Agreement, we will pay 85% of the amount of the net cash tax

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savings, if any, that we are deemed to realize as a result of (i) certain increases in, or adjustments to, the tax basis of assets of ER Holdings and its subsidiaries resulting from
exchanges of ER Holdings membership interests in the future, (ii) certain tax attributes available to us as a result of the Reorganization, and (iii) certain other tax benefits related to our entering into the Tax Receivable Agreement,
including tax benefits attributable to payments that we make under the Tax Receivable Agreement. See “Organizational Structure” and “Certain Relationships and Related Person Transactions—Proposed Transactions
with Enchanted Rock, Inc.—Tax Receivable Agreement.”

The following diagram reflects our simplified
organizational structure immediately prior to the consummation of the Reorganization.

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The diagram below depicts our organizational structure following the
completion of the Reorganization and this offering (assuming no exercise of the underwriters’ option to purchase additional shares).

(1)	At the closing of this offering, Enchanted Rock will own      Class A Units of
ER Holdings.

(2)	Each share of Class A common stock of Enchanted Rock will be entitled to one vote and will vote
together with the Class B common stock as a single class, except as provided in our amended and restated certificate of incorporation or required by law. See “Description of Capital Stock—Common Stock—Class A Common
Stock.”

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(3)	Each share of Class B common stock is entitled to one vote and will vote together with the Class A
common stock as a single class, except as provided in our amended and restated certificate of incorporation or required by law. The Class B common stock will have no economic rights in Enchanted Rock. See “Description of Capital
Stock—Common Stock—Class B Common Stock.”

Our Sponsor

Energy Impact Partners LP (our “Sponsor”) is an energy-focused investment firm that invests across venture, growth,
and credit strategies. Our Sponsor’s investor base includes utilities, energy companies and industrial partners. Our sponsor seeks to support portfolio companies in the development and commercialization of energy technologies.

Our Sponsor formed Energy Impact Fund (FT-B) LP and Energy Impact Fund (FT-D) LP (collectively, “Energy Impact
Fund”) in February 2017 for the principal purpose of indirectly holding equity interests in ER Holdings. Upon completion of this offering, Energy Impact Fund will beneficially own shares of our Class A common stock and
shares of our Class B common stock, representing approximately   % of our total common stock outstanding, and accordingly, it will control   % of the voting power of our common stock with respect to
director elections.

Implications of Being an Emerging Growth Company

As a company with less than $1.235 billion in revenue during our last fiscal year, we qualify as an emerging growth
company (“EGC”) as defined in the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). For so long as we remain an EGC, we are permitted, and have elected, to rely on exemptions from specified disclosure 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.