Athena Technology Acquisition Corp. Announces Business Combination with Heliogen, Inc.
Transaction expected to accelerate and advance Heliogen’s mission to empower a sustainable future with low-cost, dispatchable concentrated solar energy as an affordable alternative to fossil fuels
Transaction implies pro forma enterprise value of the combined company of $2 billion and is estimated to provide gross proceeds at closing of up to approximately $415 million to the combined company, including estimated proceeds from a $165 million fully-committed Class A common stock PIPE, anchored by existing and new investors including funds and accounts managed by Counterpoint Global (Morgan Stanley), Salient Partners, Saba Capital, and the XCarb Innovation Fund of ArcelorMittal