Company: HVIIR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001741
Chunk: 132

Company: Hennessy Capital Investment Corp. VII
Filing Date: 2025-03-31
Form: 10-K
Item: Item 7
Chunk 132
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 to a particular
proposed initial 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 initial 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 an initial business combination, HVII’s
sponsor or an affiliate of the 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 an initial 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
identical to the private placement units. Except for the foregoing, the terms of such loans by HVII’s sponsor, an affiliate of
the sponsor or HVII’s officers and directors, if any, have not been determined and no written agreements exist with respect to
such loans. HVII does not expect to seek loans from parties other than the sponsor, an affiliate of the sponsor or its officers and directors,
if any, as HVII does not believe third parties will be willing to loan such funds and provide a waiver against any and all rights to
seek access to funds in the trust account.

HVII
does not believe it will need to raise additional funds in order to meet the expenditures required for operating its business. However,
if HVII’s estimate of the costs of identifying a target business, undertaking in-depth due diligence and negotiating an initial
business combination are less than the actual amount necessary to do so, HVII may have insufficient funds available to operate its business