Athena Technology Acquisition Corp. (ATHN) Shareholders Approve Heliogen Deal

Athena Technology Acquisition Corp. (NYSE:ATHN) announced in a press release today that its shareholders have approved its combination with solar energy provider Heliogen.

Over 91% of the votes cast at today’s special meeting were in favor of the approval of the business combination. ATHN stockholders also voted to approve all other proposals that were on the ballot.

The press release did not disclose redemption figures, but on the day of its December 23 redemption deadline, ATHN, which has an estimated trust value of $10.00, traded above its trust value and hit a high of $10.21 today.

The parties expect to close the transaction on Thursday, December 30, 2021. Following the closing, the combined company will be renamed “Heliogen, Inc.” and its common stock and warrants are expected to commence trading on the New York Stock Exchange under the symbols “HLGN” and “HLGNW,” respectively, on Friday, December 31, 2021.

Athena Tech and Heliogen initially announced their $2 billion combination on July 7. The Pasadena, California-based company aims to launch solar power plant design that provides flat, continuous power throughout the day.

ADVISORS

• Cohen & Company Capital Markets (a division of J.V.B. Financial Group, LLC), is serving as financial advisor to Athena.
• Barclays is serving as financial advisor to Heliogen.
• Cohen & Company Capital Markets is also serving as placement agent to Athena.
• DLA Piper LLP (US) is serving as legal advisor to Athena.
• Cooley LLP is acting as legal advisor to Heliogen.