Zeo Energy Corp. (ZEO) shares surged 88.06 percent to $2.91, gaining $1.36 on Thursday after the company announced it will acquire Heliogen, Inc. (HLGN) in an all-stock transaction. The merger is expected to close in the third quarter of 2025.
ZEO opened at $2.85 and traded between $2.63 and $3.33 during the session on the Nasdaq. It had previously closed at $1.55. Volume exploded to 89.5 million shares, far exceeding the average of 400,000.
The stock's 52-week range is $1.05 to $4.83.
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