Company: HVIIR
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010497
Chunk: 35

Company: Hennessy Capital Investment Corp. VII
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 35
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 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 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 identical to the private placement units. Except
for the foregoing, the terms of such loans by HVII’s sponsor, an affiliate of HVII’s sponsor