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Bill Gates-backed solar firm Heliogen to go public in $2B SPAC deal

Heliogen is going public in a $2 billion SPAC deal. Athena Technology Acquisition Corp. CEO Phyllis Newhouse and Heliogen Founder and CEO Bill Gross join Yahoo Finance Live to discuss.

Video Transcript

BRIAN CHEUNG: Some news hitting the tape this morning. The Athena Technology SPAC-- again, a reminder, Special Purpose Acquisition Company-- inking a deal with Heliogen. It's a AI-enabled solar company. And it's as usual with these type of SPAC deals, the SPAC, which was listed as Athena on the NYSE, will now be renamed Heliogen with the ticker HLGN. And the deal would imply a pro forma value of about $2 billion.

And the heads of both companies join us to discuss the transaction. We've got Athena Tech CEO Phyllis Newhouse alongside Heliogen CEO Bill Gross. Thank you so much for joining us here.

I want to ask you first, Phyllis. Your SPAC was on the hunt for a company, broadly for a technology company. So why Heliogen? And then, given the cooling off that we've seen in the SPAC space as of late, why specifically now?

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