Company: HVIIR
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001641172-25-023283
Chunk: 38

Company: Hennessy Capital Investment Corp. VII
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 38
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 HVII will be forced to cease operations and liquidate the Trust Account. In addition, following its business combination,
if cash on hand is insufficient, HVII may need to obtain additional financing in order to meet its obligations.

Off-Balance
Sheet Financing Arrangements

HVII
has no obligations, assets or liabilities, which would be considered off-balance sheet arrangements as of June 30, 2025. HVII does not
participate in transactions that create relationships with unconsolidated entities or financial partnerships, often referred to as variable
interest entities, which would have been established for the purpose of facilitating off-balance sheet arrangements. HVII has not entered
into any off-balance sheet financing arrangements, established any special purpose entities, guaranteed any debt or commitments of other
entities or purchased any non-financial assets.

Contractual
Obligations

HVII
does not have any long-term debt, capital lease obligations, operating lease obligations or long-term liabilities, other than an agreement
to pay an aggregate of $15,000 per month for office space, utilities and secretarial and administrative support services and an agreement
to pay Nicholas Geeza, HVII’s chief financial officer, an aggregate of $10,000 per month. HVII began incurring these fees on January
17, 2025, and will continue to incur these fees monthly until the earlier of the completion of its business combination and its liquidation.

The
underwriters of HVII’s initial public offering were entitled to a cash underwriting discount of $0.20 per unit, or $3,800,000 in
the aggregate, which was paid to the underwriters in cash at the closing of the initial public offering. Additionally, the underwriters
are entitled to a deferred underwriting discount of up to $0.40 per unit, or up to $7,600,000 in the aggregate (subject to reduction
based on the funds remaining in the Trust Account after giving effect to the public shares that are redeemed in connection with a business
combination), payable to the underwriters for deferred underwriting commissions on amounts remaining in the Trust Account after all redemptions
by public shareholders have been met. The deferred underwriting discount will become payable to the underwriters from the amounts held
in the Trust Account solely in the event HVII completes its business combination.

Critical
Accounting Estimates

The
preparation of unaudited condensed financial statements and related disclosures in conformity with accounting principles generally accepted
in