On June 1, on-site power solutions provider ERock, Incorporated, formerly known as Enchanted Rock, announced the launch of its roadshow for an IPO of its common stock. The company will offer 27.91 million shares of its class A common stock at an offering price between $20 per share and $23 per share. The company is targeting a deal amount of $641.9 million and a $5 billion valuation. The offer date is June 10 under the ticker symbol “EROC.”
ERock is striving to join one of the many names that have gone public recently in the AI infrastructure space. The company has been an early mover in the microgrid market, emerging in the wake of Hurricane Sandy. Now, the company faces explosive demand from data centers due to their enormous energy needs compared to traditional computing.
