---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-25-048509"
form_type: "8-K"
ticker: "ZEO"
cik: "0001865506"
company_name: "Zeo Energy Corp."
filed_at: "2025-05-29T23:59:59+00:00"
generated_at: "2026-05-20T06:35:03.535569+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Zeo Energy acquires Heliogen for $10M stock; exchange ratio based on $1.59/share

## Summary
- Total Merger Consideration $10M, adjusted by Heliogen's Net Cash collar of $13M-$16M.
- Exchange Ratio = (Consideration / 6.6M fully diluted shares) / $1.5859; Heliogen shareholders get ZEO shares.
- Closing conditions include Heliogen stockholder vote, Nasdaq listing, S-4 effectiveness, Net Cash ≥ $10M.
- Holders of ~23.5% of Heliogen voting power signed Voting Agreements to support the deal.
- Heliogen pays Zeo a termination fee of $450,000 in certain scenarios (e.g., superior proposal).

## SEC filing metadata
- accession: 0001213900-25-048509
- form_type: 8-K
- ticker: ZEO
- cik: 0001865506
- company_name: Zeo Energy Corp.
- filed_at: 2025-05-29T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1865506/000121390025048509/0001213900-25-048509-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1865506/000121390025048509/ea0243493-8k425_zeo.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-25-048509
- JSON: https://secwatch.observer/filing/0001213900-25-048509.json
- Plain text: https://secwatch.observer/filing/0001213900-25-048509.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.