# EDGAR Filing Document

**Accession Number:** 0001840292
**File Stem:** 0001840292-23-000006
**Filing Date:** 2023-3
**Character Count:** 17262
**Document Hash:** 0738dd93d9fe8ca02c01a4b7eeb56f7e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001840292-23-000006.hdr.sgml**: 20230306

**ACCESSION NUMBER**: 0001840292-23-000006

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20230306

**ITEM INFORMATION**: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230306

**DATE AS OF CHANGE**: 20230306

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Heliogen, Inc.
- **CENTRAL INDEX KEY:** 0001840292
- **STANDARD INDUSTRIAL CLASSIFICATION:** ELECTRIC SERVICES [4911]
- **IRS NUMBER:** 854204953
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-40209
- **FILM NUMBER:** 23709206

**BUSINESS ADDRESS:**
- **STREET 1:** 130 W UNION ST.
- **CITY:** PASADENA
- **STATE:** CA
- **ZIP:** 91103
- **BUSINESS PHONE:** 9709240446

**MAIL ADDRESS:**
- **STREET 1:** 130 W UNION ST.
- **CITY:** PASADENA
- **STATE:** CA
- **ZIP:** 91103

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Athena Technology Acquisition Corp.
- **DATE OF NAME CHANGE:** 20210112

?xml version="1.0" ? hlg-20230306

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K** 

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

Date of Report (Date of earliest event reported): March 6, 2023

**Heliogen, Inc.**

(Exact name of registrant as specified in its charter)

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| | | |
|:---|:---|:---|
| **Delaware** | **001-40209** | **85-4204953** |
| (State or other jurisdiction of<br>incorporation) | (Commission File Number) | (I.R.S. Employer <br>Identification No.) |

---

**130 West Union Street**

**Pasadena, California 91103**

(Address of Principal Executive Offices)

Registrant's telephone number, including area code: **(626) 720-4530**

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| Common stock, $0.0001 par value per share | HLGN | New York Stock Exchange |
| Warrants, each whole warrant exercisable for shares of Common stock at an exercise price of $11.50 per share | HLGN.W | New York Stock Exchange |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ⌧

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ⌧

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**Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.**

On March 2, 2023, the board of directors (the "Board") of Heliogen, Inc. (the "Company"), appointed Roger Lazarus to serve as a Class III director for a term expiring at the 2024 annual meeting of stockholders, effective immediately. Mr. Lazarus was also appointed to serve on the Audit Committee of the Board and the Compensation and Human Capital Committee of the Board and has been designated as an "audit committee financial expert" as defined in Item 407(d)(5) of Regulation S-K under the Securities Exchange Act of 1934, as amended (the "Exchange Act").

Mr. Lazarus is currently the Chief Financial Officer of Chain Bridge I, a NASDAQ registered special acquisition company, and is also a venture partner to Marcy Venture Partners and its portfolio companies. From 1997 to 2019 he worked as a partner at Ernst & Young LLP advising on acquisitions and investments for corporate and private equity clients. During his career with Ernst & Young, he served in a variety of roles, including as the Chief Operating Officer ("COO") and Board member of Ernst & Young's LatAm North region, where he managed internal operations and oversaw financial and operating reporting for 13 countries from 2017 to 2019, as a managing partner and COO of Ernst & Young Colombia from 2013 to 2019, and as the managing partner of Ernst & Young´s West Region Transactions service-line from 2006 to 2009. Mr. Lazarus is a director and the chair of the Audit Committee and Compensation Committee of LatAm Logistic Properties S.R.L, a 3PL real estate developer in Costa Rica, Colombia and Peru. He is chair of the Audit Committee of the Goldman Environmental Foundation, the sponsor of the annual Goldman Environmental Prize. Mr. Lazarus is a Chartered Accountant (ICAEW), holds a BA with honors in Economics from the University of York, England and completed the international certification of the Institute of Directors (London, England) in 2020.

Effective as of Mr. Lazarus' appointment to the Board, the Board granted Mr. Lazarus an initial equity grant comprising 75,000 restricted stock units ("RSUs"), which vests ratably over a three-year period, with one-third vesting on each anniversary of the grant date, subject to Mr. Lazarus' continued service on the Board. Mr. Lazarus will also be entitled to an annual equity grant equal to the lesser of (i) $150,000 and (ii) 75,000 RSUs, which fully vests on the earlier of (i) one year following the date of grant or (ii) the day before the next annual meeting following the applicable grant date, subject to Lazarus' continued service on the Board. Mr. Lazarus's annual cash compensation for his service as director of $70,000 will be prorated to reflect the commencement date of his Board service.

The Board has determined that Mr. Lazarus is an independent director under the listing standards of The New York Stock Exchange (the "NYSE") and meets the additional independence requirements of the NYSE and SEC with respect to members of the Audit Committee and the Compensation and Human Capital Committee of the Board.

There are no arrangements or understandings between Mr. Lazarus and any other person pursuant to which Mr. Lazarus was selected as a director of the Company. There are also no family relationships between Mr. Lazarus and any director or executive officer of the Company and Mr. Lazarus does not have any direct or indirect material interest in any related-person transaction or proposed related-person transaction required to be disclosed by Item 404(a) of Regulation S-K under the Exchange Act.

In addition, director Julie M. Kane has been elected as the chairperson of the Board.

**Item 7.01 Regulation FD Disclosure.**

On March 6, 2023, the Company issued a press release announcing the appointment of Mr. Lazarus as a director of the Board. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.

The information set forth under Item 7.01 of this Current Report on Form 8-K ("Current Report"), including Exhibit 99.1 attached hereto, is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of such section. The information in Item 7.01 of this Current Report, including Exhibit 99.1, shall not be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any incorporation by reference language in any such filing, except as expressly set forth by specific reference in such a filing.

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**Item 9.01. Financial Statements and Exhibits.**

(d) Exhibits.

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| | |
|:---|:---|
| **Exhibit Number** | **Description** |
| 99.1 | <u>[Press Release, dated March 6, 2023](ex991-directorappointment0.htm)</u> |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

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| | | | |
|:---|:---|:---|:---|
| | | | **Heliogen, Inc.** |
| Dated: | March 6, 2023 | By: | /s/ Christiana Obiaya |
|  |  |  | **Christiana Obiaya** |
|  |  |  | **Chief Executive Officer** |

---

## Exhibit 99.1

**Exhibit 99.1**

**Heliogen Announces Updates to Strengthen its Board and Drive Implementation of Strategic Plan and Growth Initiatives**

*Announces appointment of Roger A. Lazarus to Board – veteran financial services executive brings decades of management, operational and financial experience across developed and emerging markets*

*Board establishes Corporate Strategy Committee to advise and oversee execution of key strategic pillars to improve shareholder value* 

**PASADENA, Calif., March 6, 2023 —** Heliogen, Inc. (NYSE: HLGN) (the "Company"), a leading provider of AI-enabled concentrating solar energy technology, today announced updates to its Board of Directors (the "Board") to accelerate the successful implementation of the Company's strategic plan, pursue growth initiatives and enhance value for shareholders.

Roger A. Lazarus has been appointed a member of the Board, effective March 2, 2023. Mr. Lazarus, a Chartered Accountant (ICAEW), brings valuable financial and operational expertise across both developed and emerging markets. He will serve on the Board's Audit and Compensation Committees.

Additionally, the Board has established a new Corporate Strategy Committee (the "Committee") to work with Heliogen's management team to advise and oversee management's process for implementing the Company's strategic priorities and growth initiatives, immediately targeted at (1) sales of the Company's steam product for use in industrial processes and in green hydrogen production and (2) installation of commercial-scale projects. The Committee is chaired by director and industrial energy transition veteran Barbara Burger, and includes Christie Obiaya, Heliogen's Chief Executive Officer, and directors Stacey Abrams and Paddy Padmanathan.

Further, director Julie M. Kane has been elected chair of the Board.

"I am committed to working closely with our Corporate Strategy Committee as we focus on executing our strategic plan and propelling our growth initiatives forward," said Christie Obiaya. "The Committee's engagement will be invaluable as we tackle the key pillars of our business strategy. With our world-class team and Board, we are poised to scale our groundbreaking concentrated solar thermal technology to decarbonize industry and deliver value to our shareholders."

"The entire Board is pleased to welcome Roger as a director to support our mission of changing the world by decarbonizing industry," said Julie Kane. "Roger brings a wealth of finance and business expertise, along with a more than three-decade track record as an experienced leader, operator and strategist in emerging markets. I am confident we will benefit from his valuable perspectives as we execute on our strategic plan and continue to grow Heliogen into a global leader in industrial decarbonization."

"I am excited to join Heliogen's Board at such a pivotal time for the Company," said Roger Lazarus. "I am energized to work alongside this top-notch group of individuals united by the same mission to accelerate the global energy transition, and I look forward to bringing my finance, operational and management experience to bear as Heliogen continues to execute on its global growth strategy."

**Roger A. Lazarus Biography**

Mr. Lazarus is a recognized global business executive, with a proven track record of Board and C-suite experience and business unit leadership roles for a range of emerging and established businesses, as well as multi-country transaction advisory expertise. He is currently the Chief Financial Officer of Chain Bridge I, a NASDAQ listed special purpose acquisition company, and is also a venture partner to Marcy Venture Partners and its portfolio companies. Mr. Lazarus joined Ernst & Young LLP in Boston as a partner in 1997 advising on acquisitions and investments for corporate and private equity clients. During his 23-year career with Ernst & Young, he served in a variety of roles, including as the Chief Operating Officer ("COO") and Board member of Ernst & Young's LatAm

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North region, where he managed internal operations and oversaw financial and operating reporting for 13 countries, as a managing partner and COO of Ernst & Young Colombia, and as the managing partner of Ernst & Young´s West Region Transactions service-line. Mr. Lazarus is a director and the chair of the Audit Committee and Compensation Committee of LatAm Logistic Properties S.R.L, a 3PL real estate developer in Costa Rica, Colombia and Peru. He is chair of the Audit Committee of the Goldman Environmental Foundation, the sponsor of the annual Goldman Environmental Prize. Mr. Lazarus is a Chartered Accountant (ICAEW), holds a BA with honors in Economics from the University of York, England and completed the international certification of the Institute of Directors (London, England) in 2020.

**About Heliogen**

**Forward-Looking Statements**

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements that are not historical in nature, including the words "anticipate," "expect," "suggests," "plan," "believe," "intend," "estimates," "targets," "projects," "should," "could," "would," "may," "will," "forecast" and other similar expressions are intended to identify forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding (i) implementation of the Company's strategic plan and growth initiatives, (ii) plans to prioritize sales of the Company's industrial steam product and installation of commercial scale projects; and (iii) expectations for scaling the Company's concentrated solar thermal technology. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) our financial and business performance, including risk of uncertainty in our financial projections and business metrics and any underlying assumptions thereunder; (ii) changes in our business and strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects and plans; (iii) our ability to execute our business model, including market acceptance of our planned products and services and achieving sufficient production volumes at acceptable quality levels and prices; (iv) our ability to maintain listing on the New York Stock Exchange; (v) our ability to access sources of capital to finance operations, growth and future capital requirements; (vi) our ability to maintain and enhance our products and brand, and to attract and retain customers; (vii) our ability to scale in a cost effective manner; (viii) changes in applicable laws or regulations; (ix) developments and projections relating to our competitors and industry; and (x) our ability to protect our intellectual property. You should carefully consider the foregoing factors and the other risks and uncertainties disclosed in the "Risk Factors" section in Part I, Item 1A in our Annual Report on Form 10-K/A for the annual period ended December 31, 2021 and other documents filed by Heliogen from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Heliogen assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

**Heliogen Investor Contact:**

Louis Baltimore

VP, Investor Relations

Louis.Baltimore@Heliogen.com

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**Heliogen Media Contact:**

Cory Ziskind

ICR, Inc.

HeliogenPR@icrinc.com

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