ERock, a Houston-based natural gas generator manufacturer, is seeking to raise up to $641.9 million through its U.S. initial public offering, according to a regulatory filing.
The company plans to offer 27.9 million shares priced between $20 and $23 each, targeting a valuation of up to $5 billion. ERock will list on the New York Stock Exchange under the ticker 'EROC.'
Founded in 2006, ERock provides natural gas generators to data centers, utilities, and commercial and industrial customers across nine U.S. states. The company generates substantial revenue from high-growth regions including Texas and California.
As of March 31, ERock reported approximately $1.3 billion in contracted power system sales backlog, a nearly nine-fold increase from the previous year.
Morgan Stanley and J.P. Morgan are joint lead bookrunning managers. Barclays, BofA Securities, Evercore ISI, Guggenheim Securities, Wolfe | Nomura Alliance, and BNP Paribas are also underwriters.
