Heliogen Stockholder Sues Over $10 Million Sale to Zeo Energy

Heliogen Inc.‘s $10 million deal to be bought out to Zeo Energy Corp. wasn’t properly fleshed out in paperwork for stockholders’ review, a lawsuit seeking to halt the sale said.

The deal’s paperwork didn’t provide enough information about the sales process, fiscal projections for both companies, and the data used by advisers to review financials, said the stockholder’s complaint filed in the US District Court for the Central District of California.

Heliogen’s securities holders will get shares of Zeo’s Class A common stock based on a price of almost $1.59 a share, which may be adjusted depending on Heliogen’s ...