Company: HVIIR
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001641172-25-023283
Chunk: 21

Company: Hennessy Capital Investment Corp. VII
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 21
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, outstanding balance under the Promissory Note.

Working
Capital Loans

In
order to finance transaction costs in connection with a Business Combination, the Sponsor or an affiliate of the Sponsor or certain of
the Company’s officers and directors may, but are not obligated to, loan the Company funds as may be required (the “Working
Capital Loans”). If the Company completes a Business Combination, the Company would repay the Working Capital Loans. In the event
that a Business Combination does not close, the Company may use a portion of the working capital held outside the Trust Account to repay
the Working Capital Loans but no proceeds from the Trust Account would be used to repay the Working Capital Loans. Up to $2,500,000 of
such Working Capital Loans may be convertible into Private Placement Units of the post Business Combination entity at a price of $10.00
per Unit at the option of the lender. As of June 30, 2025 and December 31, 2024, no such Working Capital Loans were outstanding.

Administrative
Services Agreement and Payments to Officer

The
Company entered into an agreement with the Sponsor, commencing on January 17, 2025 through the earlier of the Company’s consummation
of a Business Combination and its liquidation, to pay an aggregate of $15,000 per month for office space, utilities, and secretarial
and administrative support services. For the three and six months ended June 30, 2025, the Company incurred and paid $45,000 and $82,258
administrative services fees, respectively.

The
Company entered into an agreement with the CFO, commencing on January 17, 2025, to pay an aggregate of $10,000 per month for services
prior to the consummation of the Company’s Business Combination or until the Company’s liquidation. For the three and six
months ended June 30, 2025, the Company incurred $24,839 and $54,839, respectively, under this agreement with the CFO and are included
in accounts payable and accrued expenses on the balance sheet as of June 30, 2025.

    13

HENNESSY
CAPITAL INVESTMENT CORP. VII

NOTES
TO CONDENSED FINANCIAL STATEMENTS

JUNE
30, 2025

(UNAUDITED)

NOTE
6 — COMMITMENTS AND CONTINGENCIES

Risks
and Uncertainties

The
United States and global