ERock Inc. raised $600 million in a US initial public offering, pricing its shares at the midpoint of its marketed range. The Houston-based modular power systems maker, which serves data centers and other sectors, sold 27.9 million shares for $21.50 each, according to a statement Tuesday. The company marketed its shares for $20 to $23 each. The price gives ERock a market value of about $4.7 billio...
ERock Inc. raised $600 million in a US initial public offering, pricing its shares at the midpoint of its marketed range. The Houston-based modular power systems maker, which serves data centers and other sectors, sold 27.9 million shares for $21.50 each, according to a statement Tuesday. The company marketed its shares for $20 to $23 each. The price gives ERock a market value of about $4.7 billion, based on the outstanding shares listed in its filings. ERock is the latest power-equipment maker to ride the artificial-intelligence boom into public markets. The largest shareholders in gas engine maker Innio Holding GmbH raised $2.79 billion in an IPO last week. Shares of Forgent Power Solutions Inc. have more than doubled since its $1.74 billion offering in February. ERock makes distributed power systems for data centers, utilities and large commercial and industrial businesses in nine US states, offering customers bridge, backup and flexible power. RockBlock, its modular, distributed generator system, converts natural gas from local underground pipelines into power. The company serves about 400 sites, with its largest footprints in California and Texas, according to its filings. ERock’s predecessor company, Enchanted Rock, had a net loss of $18 million on revenue of $31.7 million for the three months ended March 31, 2026, compared with a net loss of $16.7 million on revenue of $24.1 million in the same period a year earlier. The company changed its name in March. Investment firm Energy Impact Partners was set to hold 45.3% voting power following the IPO through its holdings of Class A and B shares, while former chief executive officer Thomas McAndrew is the company’s second biggest shareholder and would have 10.2% voting power after the offering, according to a filing. The offering was led by Morgan Stanley , JPMorgan Chase & Co. , Barclays Plc and Bank of America Corp. The company expects its shares to trade on the New York Stock Exchange Wednesday under the symbol ...
(RTTNews) - The Indonesia stock market on Tuesday ended the brutal four-day losing streak in which it had plummeted more than 850 points or 15 percent. The Jakarta Composite Index now sits just beneath the 5,750-point plateau although it may open under pressure again on Wednesday
(RTTNews) - The Indonesia stock market on Tuesday ended the brutal four-day losing streak in which it had plummeted more than 850 points or 15 percent. The Jakarta Composite Index now sits just beneath the 5,750-point plateau although it may open under pressure again on Wednesday
Elon Musk has become the most powerful, prolific and bewildering human on earth and is about to become the world's first trillionaire if his latest brainchild -- the IPO of his rocket and AI company SpaceX -- goes as planned.Without Musk, OpenAI would go on to become the dominant AI giant, and this year he lost a blockbuster lawsuit against the company and its CEO Sam Altman over Musk's claims tha...
Elon Musk has become the most powerful, prolific and bewildering human on earth and is about to become the world's first trillionaire if his latest brainchild -- the IPO of his rocket and AI company SpaceX -- goes as planned.Without Musk, OpenAI would go on to become the dominant AI giant, and this year he lost a blockbuster lawsuit against the company and its CEO Sam Altman over Musk's claims that it had reneged on its original mission of being a non-profit working for AI to benefit humanity.
Hilton has worn many hats since he arrived in the US 14 years ago, and now faces steep odds of defeating Democratic Xavier Becerra in November After years of working in the background of Conservative party politics in Britain, Steve Hilton has passed the first major test as his own front man: clinching a spot in the November run-off to become California’s next governor. The outcome was far from a ...
Hilton has worn many hats since he arrived in the US 14 years ago, and now faces steep odds of defeating Democratic Xavier Becerra in November After years of working in the background of Conservative party politics in Britain, Steve Hilton has passed the first major test as his own front man: clinching a spot in the November run-off to become California’s next governor. The outcome was far from a given under California’s open primary system, which rewards the top two vote winners regardless of party, and the particular challenge of running as a Republican in one of the most solidly blue states in the country. Continue reading...
Taiwan’s main opposition leader hailed US President Donald Trump’s recent comments opposing the island’s independence as a “relatively positive first step” towards reducing tensions. Cheng Li-wun, chairwoman of the Kuomintang (KMT), told the South China Morning Post on Sunday in an exclusive interview: “The ‘one China’ principle and opposition to Taiwan independence have always been the Kuomintang...
Taiwan’s main opposition leader hailed US President Donald Trump’s recent comments opposing the island’s independence as a “relatively positive first step” towards reducing tensions. Cheng Li-wun, chairwoman of the Kuomintang (KMT), told the South China Morning Post on Sunday in an exclusive interview: “The ‘one China’ principle and opposition to Taiwan independence have always been the Kuomintang’s stance. “On this political basis, the status quo across the Taiwan Strait can be maintained, and...