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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179 INDEX TO FINANCIAL STATEMENTS F-1 Neither we nor the underwriters have authorized anyone to provide you with information other than that contained in this prospectus or in any free writing prospectus prepared by or on behalf of us or to which we have referred you. We and the underwriters take no responsibility for, and can provide no assurance as to the reliability of, any other information that others may give you. We and the underwriters are not making an offer to sell our Class A common stock in any jurisdiction where an offer or sale is not permitted. The information contained in this prospectus or any free writing prospectus is accurate only as of its date, regardless of its time of delivery or of any sale of shares of our Class A common stock. Our business, financial condition, results of operations and prospects may have changed since that date.

For investors outside of the United
States: Neither we nor the underwriters have done anything that would permit this offering, or possession or distribution of this prospectus, in any jurisdiction where action for that purpose is required, other than the United States. Persons
outside of the United States who come into possession of this prospectus must inform themselves about, and observe any restrictions relating to, the offering of the shares of our Class A common stock and the distribution of this prospectus
outside of the United States.

This prospectus contains forward-looking statements that are subject to a number of risks
and uncertainties, many of which are beyond our control. See “Risk Factors” and “Cautionary Statement Regarding Forward-Looking Statements.”

Basis of Presentation

Enchanted Rock, Inc. (“Enchanted Rock”) was formed as a Delaware corporation on January 20, 2026 and will have
no assets or operations prior to the Reorganization (as defined below). Historically, we have conducted substantially all of our operations through Enchanted Rock Holdings, LLC, a Delaware limited liability company (“ER Holdings”).
Accordingly, this prospectus includes certain historical consolidated financial and other data of ER Holdings.

Immediately following this offering, Enchanted Rock will be a holding company, and its sole material asset will be
Class A membership interests in ER Holdings (“Class A Units”), which Enchanted Rock will hold either directly or indirectly through one or more wholly owned subsidiaries. As the sole managing member of ER Holdings, Enchanted
Rock will operate and control all of the business and affairs of ER Holdings and, through Enchanted Rock and its subsidiaries, conduct our business. The Reorganization (as defined below) will be

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accounted for as a reorganization of entities under common control. As a result, the consolidated financial statements of Enchanted Rock will recognize the assets and liabilities received in the
Reorganization at their historical carrying amounts, as reflected in the historical financial statements of ER Holdings. Enchanted Rock will consolidate ER Holdings on its consolidated financial statements and record a
non-controlling interest related to the Class B membership interests in ER Holdings (“Class B Units”) held by Class B stockholders of Enchanted Rock on its consolidated balance sheet
and statement of income. See “Organizational Structure.”

Except as otherwise indicated or required by the
context, all references to “Enchanted Rock,” the “Company,” “we,” “our” and “us” or similar terms refer to (i) ER Holdings and its consolidated subsidiaries before the Reorganization
and (ii) Enchanted Rock and its consolidated subsidiaries after the Reorganization. Except as otherwise indicated or the context otherwise requires, references to “common stock” refer to our Class A common stock and
Class B common stock, collectively.

Except as otherwise indicated, all information contained in this prospectus
(i) assumes an initial public offering price of $    per share of Class A common stock (the midpoint of the price range set forth on the cover of this prospectus) and (ii) assumes that the underwriters do not
exercise their option to purchase additional shares.

For the definitions of certain terms and abbreviations used in this
prospectus, see “Glossary of Industry and Enchanted Rock Terms” beginning on page iii of this prospectus.

Industry and Market Data

Certain market and industry data and forecasts used in this prospectus have been obtained from the following
independent industry publications or reports: (i) International Energy Agency; (ii) North American Electric Reliability Corporation; (iii) Institute for Energy Economics and Financial Analysis; and (iv) publicly available reports
and data. Some market data and statistical information contained in this prospectus are also based on management’s estimates and calculations, which are derived from our review and interpretation of publicly available industry publications,
our internal research and our knowledge of the markets in which we currently, and will in the future, operate. This information involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such information.
Although we believe these third-party sources to be reliable, we have not independently verified the data obtained from these sources, and we cannot assure you of the accuracy or completeness of such data. Forecasts and other forward-looking
information obtained from these sources are subject to the same qualifications and uncertainties as the other forward-looking statements in this prospectus. Statements as to our market position are based on market data currently available to us, as
well as management’s estimates and assumptions regarding the size of our markets within our industry. While we are not aware of any misstatements regarding our industry data presented herein, our estimates involve risks and uncertainties and
are subject to change based on various factors, including those discussed under the headings “Risk Factors” and “Cautionary Statement Regarding Forward-Looking Statements” in this prospectus. Neither we nor the underwriters
can guarantee the accuracy or completeness of such information contained in this prospectus.

Trademarks and Trade Names

We own or have rights to various trademarks, service marks and trade names that we use in connection with the operation of our
business. This prospectus may also contain trademarks, service marks and trade names of third parties, which are the property of their respective owners. Our use or display of third parties’ trademarks, service marks, trade names or products
in this prospectus is not intended to, and does not imply, a relationship with us or an endorsement or sponsorship by or of us. Solely for convenience, the trademarks, service marks and trade names referred to in this prospectus may appear without
the ®, ™ or SM symbols, but such references are not intended to indicate, in any way, that we will not assert, to the fullest extent
under applicable law, our rights or the right of the applicable licensor to these trademarks, service marks and trade names.

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GLOSSARY OF INDUSTRY AND ENCHANTED ROCK TERMS

The terms and abbreviations defined in this section are used throughout this prospectus:

• “AI” refers to artificial intelligence.

• “Annualized Recurring Service Revenue” refers to the annualized value of recurring revenue under
contracted operations and maintenance service and asset management agreements as of the measurement date, including both fixed contractual payments and variable payments based on typical utilization of such services.

• “backup power” or “resiliency” refers to a mode in which our power systems provide
continuity for operations during grid disruptions and extreme weather events.

• “Blocked Unitholders” refers to certain pre-IPO owners that will receive shares of Class A common
stock of us pursuant to the Blocker Mergers as defined and described in “Organizational Structure—Blocker Mergers.”

• “bridge power” refers to a mode in which our power systems provide temporary generation to meet
customer needs during the period before full grid interconnection becomes available.

• “C&I” refers to commercial and industrial.

• “CAISO” refers to the California Independent System Operator.

• “CARB” refers to the California Air Resources Board.

• “CARB-DG” refers to the California Air Resources Board
Distributed Generation certification standard.

• “CO” refers to carbon monoxide.

• “CO2” refers to carbon dioxide.

• “Common Units” refers to the interests in ER Holdings called “Common Units” that are
outstanding prior to the Reclassification.

• “conditional firm interconnections” refers to firm service except during certain identified system
conditions.

• “Continuing Equity Unitholders” refers to certain pre-IPO holders of Common and/or Preferred Units
who will hold Class B Units following the Reclassification, as described under “Organizational Structure.”

• “Contracted Power System Sales Backlog” refers to the actual contracted value for purchases of
power systems and ESI services, whether invoiced or not, to be invoiced and recognized as revenue as a result of performing our obligations over the term of the contract, assuming no exceptions or contingencies are exercised, and includes
adjustments for contract modifications entered into after period-end and prior to the issuance of the related financial disclosures.

• “dispatchable power” or “flexible capacity” refers to a mode in which our power
systems are configured as on-demand, fast-response resources.

• “ECU” refers to electronic control unit.

• “ERCOT” refers to the Electric Reliability Council of Texas.

• “ESI” refers to equipment, supply and installation.

• “FERC” refers to the Federal Energy Regulatory Commission.

• “GHG” refers to greenhouse gases.