---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-25-074957"
form_type: "8-K/A"
ticker: "ZEO"
cik: "0001865506"
company_name: "Zeo Energy Corp."
filed_at: "2025-08-12T23:59:59+00:00"
generated_at: "2026-05-17T14:52:45.577964+00:00"
event_type: "m_and_a"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Zeo Energy completes acquisition of Heliogen; Heliogen reports $6.4M Q1 loss, going concern doubt

## Summary
- Merger closed on Aug 8, 2025; exchange ratio 0.9591 Zeo shares per Heliogen share.
- Post-merger Zeo expects 54,832,032 shares outstanding, up from 48,526,464 pre-merger.
- Heliogen Q1 2025 net loss $6.4M, revenue $0, cash burn $8.4M; $30.1M cash, no debt.
- Heliogen auditors express substantial doubt about ability to continue as going concern.
- Heliogen's prior year (2024) revenue was $1.5M with $15.2M net loss in Q1 2024.

## SEC filing metadata
- accession: 0001213900-25-074957
- form_type: 8-K/A
- ticker: ZEO
- cik: 0001865506
- company_name: Zeo Energy Corp.
- filed_at: 2025-08-12T23:59:59+00:00
- event_type: m_and_a
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1865506/000121390025074957/0001213900-25-074957-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1865506/000121390025074957/ea0252616-8ka1_zeoenergy.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-25-074957
- JSON: https://secwatch.observer/filing/0001213900-25-074957.json
- Plain text: https://secwatch.observer/filing/0001213900-25-074957.txt

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