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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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, (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, and (iii) shares of Class A common stock issuable on a one-for-one basis in exchange for Class B Units that may be obtained by our Continuing Profits Interest Unitholders upon an exchange of their Class M Units for Class B Units. 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,”
(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,” and (3) its outstanding Compensatory Units held by the
Continuing Profits Interest Unitholders into a new class of membership interests that we refer to as “Class M 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 and the Continuing Profits Interest Unitholders) or indirectly in ER Holdings
(in the case of the Blocked Unitholders).

The A&R LLCA will entitle any holder of Class M Units to convert their
Class M Units into Class B Units of equivalent value at the time of the conversion. We will not issue any shares of Class B common stock to an exchanging holder of Class M Units. The A&R LLCA will entitle any holder of Class
B Units (including any holder of Class B Units that obtains those Class B Units from an exchange of Class M Units) to exchange their Class B Units for Class A common stock on a one-for-one basis, or, at our election in our sole
discretion, for cash. The exchange ratio is subject to appropriate adjustment by us in the event Class A Units are issued to us without issuance of a corresponding number of shares of Class A common stock or in the event of certain
reclassifications, reorganizations, recapitalizations or similar transactions. The A&R LLCA will provide that any

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holder of Class B Units will not have the right to exchange Class B Units if we determine that such exchange would be prohibited by law or regulation or would violate other agreements with us, ER
Holdings, or any of their subsidiaries to which the holder of Class B Units is subject. We intend to impose additional restrictions on exchanges that we determine to be necessary or advisable so that ER Holdings is not treated as a “publicly
traded partnership” for U.S. federal income tax purposes.

The A&R LLCA also provides for mandatory exchanges
under certain circumstances, including at the option of us if the number of Class A Units, Class B Units and Class M Units outstanding and held by its members (other than those held by us) is less than 20% of the outstanding Class A Units,
Class B Units and Class M Units of ER Holdings or in the discretion of us with the consent of holders of at least 50% of the outstanding Class B Units. Shares of Class B common stock retired upon an exchange will be restored to the status of
authorized but unissued shares of Class B common stock.

Pursuant to the A&R LLCA, we will become the sole managing
member of ER Holdings. Accordingly, we will have the right to determine when distributions will be made to the holders of Class A Units, Class B Units and Class M Units and the amount of any such distributions. If we, as the managing
member, authorize a distribution, such distribution generally will be made to the holders of Class A Units, Class B Units and Class M Units pro rata in accordance with the percentages of the total number of units of ER Holdings that
are issued and outstanding at the time of the distribution. However, any portion of a distribution (other than a tax distribution) that would be payable with respect to a Class M Unit for which the applicable threshold amount has not yet been
satisfied will instead be distributed to the other unitholders in accordance with the proportions described in the previous sentence.

We, the Continuing Equity Unitholders and the Continuing Profits Interest Unitholders will each incur U.S. federal, state, and
local income taxes on our respective allocable shares of any taxable income of ER Holdings. Net profits and net losses of ER Holdings generally will be allocated to its owners (including us) pro rata in accordance with the percentages of their
respective units held, except as otherwise required by law. The A&R LLCA will provide for cash distributions to us, the Continuing Equity Unitholders and the Continuing Profits Interest Unitholders if we determine that the taxable income of ER
Holdings will give rise to net allocations of taxable income for us, the Continuing Equity Unitholders and the Continuing Profits Interest Unitholders. In accordance with the A&R LLCA, we intend to cause ER Holdings to make cash distributions to
us, the Continuing Equity Unitholders and the Continuing Profits Interest Unitholders for purposes of funding our respective tax obligations in respect of the income of ER Holdings that is allocated to us. The assumed tax rate for purposes of
determining tax distributions from ER Holdings to its owners will be the highest combined federal, state, and local tax rate that may potentially apply to an individual resident in the U.S. (as reasonably determined by ER Holdings). See
“Certain Relationships and Related Person Transactions—Limited Liability Company Agreement.”

Blocker Mergers

We will use approximately $     of the net proceeds from this offering as cash consideration in
connection with the Blocker Mergers, in connection with which we will acquire      Class A Units from the Blocked Unitholders, which (together with shares of our Class A common stock) will permit us to acquire (by
merger) all of the Class A Units currently held by the Blockers. The cash portion of the consideration for each Blocker Merger will be determined by multiplying (1) the difference between (a) the total number of Class A Units held by
the applicable Blocker and (b) the number of shares of Class A common stock that will be received by the Blocked Unitholders with respect to that Blocker in connection with that Blocker Merger by (2) the price per share paid by the
underwriters for our Class A common stock in this offering. Each of the Blocker Companies initially will become a wholly owned subsidiary of us and then be merged into us.

Tax Receivable Agreement

Prior to the completion of the IPO, we will enter into the Tax Receivable Agreement with certain of our pre-IPO owners that provides for our payment to such pre-IPO owners of 85% of the net cash tax savings, if any,

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