Heliogen rejects unsolicited acquisition proposal from Continuum Renewables

Heliogen "announced that its Board of Directors rejected the unsolicited, non-binding proposal it received on April 13th from Continuum Renewables, Inc. to acquire all of the outstanding shares of common stock of Heliogen for cash consideration of $0.40 per share." The Board states that "the proposal would result in an implied equity value for Heliogen common stockholders that is materially below Heliogen’s available liquidity. Additionally, the Board concluded that the proposal is subject to material contingencies, including CRI obtaining financing."