Heliogen, Receives Continued Listing Notice from NYSE

Heliogen, a leading provider of AI-enabled concentrated solar energy, announced that on December 23, 2022, it received written notice from the New York Stock Exchange ("NYSE") that the average closing price of its common stock over the prior consecutive 30 trading-day period was below $1.00 per share, which is the minimum average share price for continued listing on the NYSE. Heliogen intends to respond to the NYSE within ten business days of receipt of the notice of its intent to cure the deficiency. Pursuant to the NYSE's rules, Heliogen has a six-month period following receipt of the deficiency letter to bring its share price and average share price back above $1.00. During the cure period, Heliogen's shares of common stock will continue to trade on the NYSE, subject to compliance with other continued listing requirements. The NYSE notification does not affect Heliogen's ongoing business operations or its Securities and Exchange Commission reporting requirements.