EROC ERock, Inc.
Price Chart
Executive Summary
ERock, Inc.'s S-1 registration statement (File No. 333-295965) was declared effective by the SEC on June 9, 2026, clearing the way for the company's initial public offering of 27,906,977 shares of Class A common stock at an expected price range of $20.00-$23.00 per share. The IPO is expected to price imminently, with the company set to begin trading on the NYSE under ticker EROC.
Actionable Insight
The IPO is now cleared to price, likely within 1-2 trading days. Monitor the final IPO price and first-day trading for initial demand signals. The $1.28B contracted backlog and 31.6% revenue growth suggest strong underlying business momentum, but the net loss and UP-C structure add complexity for valuation.
Key Facts
- Effectiveness date: June 9, 2026
- IPO of 27,906,977 shares of Class A common stock
- Expected price range: $20.00-$23.00 per share
- Net proceeds at midpoint: ~$552.5 million
- Proceeds to repay ~$33M debt, purchase ~$156M units from pre-IPO holders, fund ~$27.7M cash payment to a blockholder
- Q1 2026 revenue: $31.7M (31.6% YoY growth), net loss: $(17.2)M
- Contracted backlog: $1.28B
- Company operates through a UP-C structure
Financial Impact
IPO proceeds of ~$552.5M at midpoint; debt repayment of ~$33M; cash payment to blockholder of ~$27.7M; purchase of units from pre-IPO holders of ~$156M
Risk Factors
- IPO pricing below the expected range could signal weak demand
- Net loss of $(17.2)M in Q1 2026 indicates ongoing unprofitability
- UP-C structure may create tax complexity and insider selling overhang
- Proceeds allocated to pre-IPO holder buyouts rather than growth investment
Documents Analyzed
This report is based on 3 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| EFFECT Filing (Primary) | 9999999995-26-001928 |
| Document: 9999999995-26-001928-index.html | 9999999995-26-001928 |
| Document: 9999999995-26-001928.txt | 9999999995-26-001928 |
Filters
| Type | Now | ||||
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Jun 10, 2026
4d ago
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424B4
| $18.71 awaiting T+20 | awaiting T+20 | — | $16.95 (−9.41%) |
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Jun 10, 2026
5d ago
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EFFECT
| $20.10 awaiting T+20 | awaiting T+20 | — | $16.95 (−15.67%) |
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Jun 10, 2026
5d ago
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3
| $20.10 awaiting T+20 | awaiting T+20 | — | $16.95 (−15.67%) |
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Jun 10, 2026
5d ago
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3
| $20.10 awaiting T+20 | awaiting T+20 | — | $16.95 (−15.67%) |
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Jun 10, 2026
5d ago
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3
| $20.10 awaiting T+20 | awaiting T+20 | — | $16.95 (−15.67%) |
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Jun 10, 2026
5d ago
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3
| $20.10 awaiting T+20 | awaiting T+20 | — | $16.95 (−15.67%) |
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Jun 10, 2026
5d ago
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3
| $20.10 awaiting T+20 | awaiting T+20 | — | $16.95 (−15.67%) |
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Jun 5, 2026
9d ago
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S-1/A
| — | awaiting T+20 | — | — |
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Jun 1, 2026
13d ago
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S-1/A
| — | awaiting T+20 | — | — |
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May 26, 2026
19d ago
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S-1/A
| — | awaiting T+20 | — | — |
US Market Status
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