Company: HVIIR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001741
Chunk: 131

Company: Hennessy Capital Investment Corp. VII
Filing Date: 2025-03-31
Form: 10-K
Item: Item 7
Chunk 131
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 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, $7,600,000 of deferred underwriting
fee and $1,256,782 of other offering costs.

HVII
intends to use substantially all of the funds held in the trust account, including any amounts representing interest earned on the trust
account (which interest shall be net of permitted withdrawals and excluding deferred underwriting commissions), to complete its initial
business combination. To the extent that HVII’s share capital or debt is used, in whole or in part, as consideration to complete
its initial business combination, the remaining proceeds held in the trust account will be used as working capital to finance the operations
of the target business or businesses, make other acquisitions and pursue its growth strategies.

  75  

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. 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