Company: HVIIR
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001641172-25-023283
Chunk: 19

Company: Hennessy Capital Investment Corp. VII
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 19
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 of a Business Combination.

NOTE
5 — RELATED PARTY TRANSACTIONS

Founder
Shares

On
October 8, 2024, the Sponsor made a capital contribution of $25,000, or approximately $0.004 per share, for which the Company issued
5,750,000 founder shares to the Sponsor. On January 10, 2025, the Company issued an additional 958,333 founder shares (up to 125,000
shares of which were subject to forfeiture depending on the extent to which the Underwriters’ over-allotment option is exercised)
for no additional consideration, resulting in the Sponsor holding a total of 6,708,333 founder shares (up to 875,000 of which are subject
to forfeiture by the holders thereof depending on the extent to which the Underwriters’ option to purchase additional Units is
exercised). All share and per share data have been retrospectively presented. On January 21, 2025, the Underwriters partially exercised
their over-allotment option and forfeited the unexercised balance. As a result of the partial exercise and the subsequent forfeiture
of the over-allotment option by the Underwriters, 500,000 founder shares are no longer subject to forfeiture and 375,000 founder shares
were forfeited, resulting in the Sponsor (after giving effect to the founder share transfers described below) holding 5,203,333 founder
shares.

On
December 1, 2024 and January 1, 2025, the Sponsor transferred 250,000 and 750,000 founder shares to each of Nicholas Geeza, the Company’s
Executive Vice President, Chief Financial Officer (“CFO”) and Secretary, and Thomas Hennessy, the Company’s President
and Chief Operating Officer (“COO”), respectively. The founder shares were transferred for total consideration of $0.004
per share, or $1,000 and $3,000, respectively, due to the Sponsor. On December 19, 2024, the Sponsor transferred an aggregate of 130,000
founder shares to its independent directors, for total consideration of $0.004 per share, or $520, due to the Sponsor. The founder shares
are automatically forfeited back to the Sponsor if the holder of such founder shares is no longer providing services to the Company prior
to its Business Combination. The sale of the founder shares to the Company’s CFO, COO, and its independent directors