Company: HVIIR
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023499
Chunk: 40

Company: Hennessy Capital Investment Corp. VII
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 40
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 strategies.

HVII intends to use the funds held outside the Trust Account primarily to identify
and evaluate target businesses, perform business due diligence on prospective target businesses, travel to and from the offices, plants
or similar locations of prospective target businesses or their representatives or owners, review corporate documents and material agreements
of prospective target businesses and structure, negotiate and complete a business combination and to pay taxes to the extent the interest
earned on the Trust Account is not sufficient to pay HVII’s income taxes. As discussed above under “Recent Events,”
on October 22, 2024, HVII entered into a Business Combination Agreement. In addition, HVII may pay commitment fees for financing, fees
to consultants to assist it with its search for a target business or as a down payment or to fund a “no-shop” provision (a
provision designed to keep target businesses from “shopping” around for transactions with other companies or investors on
terms more favorable to such target businesses) with respect to a particular proposed business combination, although HVII does not have
any current intention to do so. If HVII entered into an agreement where it paid for the right to receive exclusivity from a target business,
the amount that would be used as a down payment or to fund a “no-shop” provision would be determined based on the terms of
the specific proposed business combination and the amount of HVII’s available funds at the time. HVII’s forfeiture of such
funds (whether as a result of its breach or otherwise) could result in its not having sufficient funds to continue searching for, or conducting
due diligence with respect to, prospective target businesses.

In
order to fund working capital deficiencies or finance transaction costs in connection with a business combination, HVII’s sponsor
or an affiliate of HVII’s sponsor or certain of HVII’s officers and directors may, but are not obligated to, loan HVII funds
as may be required. If HVII completes a business combination, it may repay such loaned amounts out of the proceeds of the Trust Account
released to HVII. In the event that a business combination does not close, HVII may use a portion of the working capital held outside
the Trust Account to repay such loaned amounts, but no proceeds from the Trust Account would be used for such repayment. Up to $2,500,000
of such loans may be convertible into units, at a price of $10.00 per unit, at the option of the lender. The units would be