Company: HVIIR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001741
Chunk: 0

Company: Hennessy Capital Investment Corp. VII
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 0
---
Item
1. Business.

Overview

HVII
is a newly organized special purpose acquisition company (a “ SPAC”) incorporated as a Cayman Islands exempted company on
September 27, 2024 for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar
business combination with one or more businesses, which is referred to throughout this Report as its initial business combination.

The
registration statement for HVII’s initial public offering became effective on January 16, 2025. On January 21, 2025, HVII consummated
its initial public offering of 19,000,000 units, which included 1.5 million units sold pursuant to the partial exercise of the underwriters’
over-allotment option, generating gross proceeds of $190.0 million, and incurring offering costs of approximately $12.6 million, inclusive
of $7,600,000 in deferred underwriting commissions.

Substantially
concurrently with the closing of HVII’s initial public offering, HVII consummated the private placement of 690,000 private placement
units at a price of $10.00 per private placement unit to its sponsor and the underwriters, generating gross proceeds of $6,900,000. Of
the 690,000 private placement units, 500,000 private placement units were purchased by the sponsor and 190,000 private placement units
were purchased by the underwriters.

Upon
the closing of HVII’s initial public offering and the concurrent private placement, $190,000,000 ($10.00 per public share) of the
net proceeds of the initial public offering and certain of the proceeds of the private placement were placed in a trust account located
in the United States and invested only in U. S. government treasury obligations with a maturity of 185 days or less or in money market
funds meeting certain conditions under Rule 2a-7 under the Investment Company Act, which invest only in direct U. S. government treasury
obligations, and/or deposited in an interest-bearing demand deposit account at a U. S.-chartered commercial bank with consolidated assets
of $50 billion or more. Except with respect to permitted withdrawals, the proceeds from the initial public and the sale of the private
placement units will not be released from the trust account until the earliest of (i) the completion of HVII’s initial business
combination and (ii) the distribution of the