Company: HVIIR
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010497
Chunk: 34

Company: Hennessy Capital Investment Corp. VII
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 34
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Liquidity and Capital Resources

Until the consummation of the
initial public offering, HVII’s only source of liquidity was an initial purchase of Class B ordinary shares, par value $0.0001 per
share, by HVII’s sponsor for $25,000 and loans from HVII’s sponsor, which were repaid at the closing of the initial public
offering.

Subsequent to the period covered
by this Report, on January 21, 2025, HVII consummated the initial public offering of 19,000,000 units, which includes the partial exercise
by the underwriters of their over-allotment option in the amount of 1,500,000 units, at $10.00 per unit, generating gross proceeds of
$190,000,000. Simultaneously with the closing of the initial public offering, HVII consummated the sale of an aggregate of 690,000 private
placement units at a price of $10.00 per private placement unit, generating gross proceeds of $6,900,000. Of the 690,000 private placement
units, 500,000 private placement units were purchased by the HVII’s sponsor, and an aggregate of 190,000 private placement units
were purchased by the underwriters of HVII’s initial public offering: Cohen & Company Capital Markets (133,000); Clear Street
LLC (28,500); and Loop Capital Markets LLC (28,500).

Following the closing of the initial
public offering and the sale of the private placement units, a total of $190,000,000 was placed in the Trust Account. HVII incurred $12,656,782
of transaction costs consisting of $3,800,000 of cash underwriting fee, $7,600,000 of deferred underwriting fee and $1,256,782 of other
offering costs.

HVII intends to use substantially
all of the funds held in the Trust Account, including any amounts representing interest earned on the Trust Account (which interest shall
be net of permitted withdrawals and excluding deferred underwriting commissions), to complete its business combination. To the extent
that HVII’s share capital or debt is used, in whole or in part, as consideration to complete its business combination, the remaining
proceeds held in the Trust Account will be used as working capital to finance the operations of the target business or businesses, make
other acquisitions and pursue its growth strategies.

HVII intends to