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

Company: Hennessy Capital Investment Corp. VII
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 10
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 to any claims by a third party or prospective target business who executed a waiver of any and all rights
to the monies held in the Trust Account (whether or not such waiver is enforceable) nor will it apply to any claims under the Company’s
indemnity of the Underwriters of the Initial Public Offering against certain liabilities, including liabilities under the Securities
Act of 1933, as amended (the “Securities Act”). However, the Company has not asked the Sponsor to reserve for such indemnification
obligations, nor has the Company independently verified whether the Sponsor has sufficient funds to satisfy its indemnity obligations
and the Company believes that the Sponsor’s only assets are securities of the Company. Therefore, the Company cannot assure that
the Sponsor would be able to satisfy those obligations.

Liquidity
and Capital Resources

As
of June 30, 2025, the Company had cash and cash equivalents of $1,861,192 and working capital of $1,825,579. Further, the Company has
incurred and expects to continue to incur significant costs in pursuit of its acquisition plans. In connection with the Company’s
assessment of going concern considerations in accordance with Accounting Standards Codification 205-40, “Going Concern,”
as of June 30, 2025, the Company has sufficient funds for the working capital needs of the Company until a minimum of one year from the
date of issuance of these unaudited condensed financial statements.

    7

HENNESSY
CAPITAL INVESTMENT CORP. VII

NOTES
TO CONDENSED FINANCIAL STATEMENTS

JUNE
30, 2025

(UNAUDITED)

NOTE
2 — SIGNIFICANT ACCOUNTING POLICIES

Basis
of Presentation

The
accompanying unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted
in the United States of America (“GAAP”) for interim financial information and in accordance with the instructions to Form
10-Q and Article 8 of Regulation S-X promulgated under the Securities Act. Certain information or footnote disclosures normally included
in unaudited condensed financial statements prepared in accordance with GAAP have been condensed or omitted, pursuant to the rules and
regulations of the U.S. Securities and Exchange Commission (the “SEC”) for interim financial reporting. Accordingly, they
do not include all the information and footnotes necessary for a complete presentation of financial position, results of operations,
or