Company: HVIIR
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010497
Chunk: 47

Company: Hennessy Capital Investment Corp. VII
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 47
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NOTES
TO CONDENSED FINANCIAL STATEMENTS

MARCH
31, 2025

(UNAUDITED)

NOTE 1 — ORGANIZATION AND BUSINESS OPERATIONS

Hennessy Capital Investment
Corp. VII (the “Company”) is a blank check company incorporated as a Cayman Islands exempted company on September 27, 2024.
The Company was incorporated for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization,
or similar business combination with one or more businesses (a “Business Combination”).

As of March 31, 2025,
the Company had not commenced any operations. All activity for the period from September 27, 2024 (inception) through March 31, 2025 relates
to the Company’s formation and the initial public offering (the “Initial Public Offering”), as described below and,
subsequent to the Initial Public Offering, identifying and completing a suitable Business Combination. The Company will not generate any
operating revenues until after the completion of its Business Combination, at the earliest. The Company generates non-operating income
in the form of interest income on investments from the proceeds derived from the Initial Public Offering.

The registration statement
for the Company’s Initial Public Offering was declared effective on January 16, 2025. On January 21, 2025, the Company consummated
the Initial Public Offering of 19,000,000 units (the “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, which is
described in Note 3. Each Unit consists of one Class A ordinary share and one right to receive one-twelfth (1/12) of one Class A ordinary
share upon the consummation of its Business Combination (“Share Right”).

Simultaneously with
the closing of the Initial Public Offering, the Company consummated the sale of an aggregate of 690,000 private placement units (the “Private
Placement Units”) at a price of $10.00 per Private Placement Unit, generating gross proceeds of $6,900,000, which is described in
Note 4. Of the 690,000 Private Placement Units, 500,000 Private Placement Units were purchased by HC VII Sponsor LLC, the Company’s
sponsor (the