Houston-based ERock (EROC) priced its IPO at $21.50 – the mid-point of its range – and sold 27.9 million shares – the number in the prospectus – to raise $600 million on Tuesday night, June 9, 2026. ERock’s stock slipped today – Wednesday, June 10, 2026 – in its debut on the New York Stock Exchange – opening at $20.10. In early afternoon trading, ERock was at $20.15.
ERock designs, runs and maintains distributed power systems – each consisting of its proprietary low-emission natural gas generator and embedded software, according to the prospectus.
“We primarily serve data centers, utilities and large C&I businesses across nine U.S. states, with our largest operating footprints located in California and Texas,” ERock said in the prospectus.
Morgan Stanley and J.P.Morgan led the joint book-running team, which included Barclays, BofA Securities, Evercore ISI, the Wolfe Nomura Alliance and BNP Paribas.
At pricing, ERock had a market cap of $4.72 billion.
ERock’s “cost-effective modular power systems can be rapidly deployed at a scale of more than 1 GW to meet our customers’ full range of power needs,” the prospectus said.
The company plans to use some of the IPO’s proceeds to repay about $30 million of outstanding debt under its 2025 Term Loan and a $3 million prepayment fee, the prospectus said.
ERock is not profitable, according to the prospectus: Net loss of $59.03 million on revenue of $183.15 million for the 12 months that ended on Dec. 31, 2025.
(For more information about this company, please check the IPO Calendar and the individual IPO Profile found on the IPOScoop.com website.)
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