Company: HVIIR
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001641172-25-023283
Chunk: 75

Company: Hennessy Capital Investment Corp. VII
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 8
Chunk 75
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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 use the funds held outside the Trust Account primarily to identify and evaluate target businesses, perform business due diligence
on prospective target businesses, travel to and from the offices, plants or similar locations of prospective target businesses or their
representatives or owners, review corporate documents and material agreements of prospective target businesses and structure, negotiate
and complete a business combination and to pay taxes to the extent the interest earned on the Trust Account is not sufficient to pay
HVII’s income taxes. In addition, HVII may pay commitment fees for financing, fees to consultants to assist it with its search
for a target business or as a down payment or to fund a “no-shop” provision (a provision designed to keep target businesses
from “shopping” around for transactions with other companies or investors on terms more favorable to such target businesses)
with respect to a particular proposed business combination, although HVII does not have any current intention to do so. If HVII entered
into an agreement where it paid for the right to receive exclusivity from a target business, the amount that would be used as a down
payment or to fund a “no-shop” provision would be determined based on the terms of the specific proposed business combination
and the amount of HVII’s available funds at the time. HVII’s forfeiture of such funds (whether as a result of its breach
or otherwise) could result in its not having sufficient funds to continue searching for, or conducting due diligence with respect to,
prospective target businesses.

In
order to fund working capital deficiencies or finance transaction costs in connection with a business combination, HVII’s sponsor
or an affiliate of HVII’s sponsor or certain of HVII’s officers and directors may, but are not obligated to, loan HVII funds
as may be required. If HVII completes a business combination, it