Company: HVIIR
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001641172-25-023283
Chunk: 74

Company: Hennessy Capital Investment Corp. VII
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 8
Chunk 74
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 months ended June 30, 2025, HVII had net income of $1,520,515, which consisted of interest earned on marketable securities
held in the Trust Account of $1,953,980, interest earned on cash equivalents of $15,444 offset by $448,910 of general and administrative
costs.

For
the six months ended June 30, 2025, HVII had net income of $2,538,521, which consisted of interest earned on marketable securities held
in the Trust Account of $3,448,469, interest earned on cash equivalents of $27,997 offset by $937,945 of general and administrative costs.

21

Liquidity
and Capital Resources

Until
the consummation of the initial public offering, HVII’s only source of liquidity was an initial purchase of Class B ordinary shares,
par value $0.0001 per share, by HVII’s sponsor for $25,000 and loans from HVII’s sponsor, which were repaid at the closing
of the initial public offering.

Subsequent
to the period covered by this Report, on January 21, 2025, HVII consummated the initial public offering of 19,000,000 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. Simultaneously with the closing of the initial public offering, HVII consummated the sale of an aggregate
of 690,000 private placement units at a price of $10.00 per private placement unit, generating gross proceeds of $6,900,000. Of the 690,000
private placement units, 500,000 private placement units were purchased by the HVII’s sponsor, and an aggregate of 190,000 private
placement units were purchased by the underwriters of HVII’s initial public offering: Cohen & Company Capital Markets (133,000);
Clear Street LLC (28,500); and Loop Capital Markets LLC (28,500).

Following
the closing of the initial public offering and the sale of the private placement units, a total of $190,000,000 was placed in the Trust
Account. HVII incurred $12,656,782 of transaction costs consisting of $3,800,000 of cash underwriting fee, $7,600,