Company: HVIIR
Filing Date: 2025-12-23
Form Type: S-4
Source: 0001493152-25-029121
Chunk: 468

Company: Hennessy Capital Investment Corp. VII
Filing Date: 2025-12-23
Form: S-4
Chunk 468
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RUED LIABILITIES

Accounts payable and accrued liabilities consist of:

|                           |     | September 30, 2025 |         |
|:--------------------------|:----|:-------------------|--------:|
| Professional fees         |     | $                  | 130,000 |
| Legal expenses            |     |                    | 301,374 |
| Other accrued liabilities |     |                    |  37,850 |
| Total                     |     | $                  | 469,224 |

NOTE 5 – MEMBERS’ EQUITY

The Company is a limited liability company, with 10,000,000 member units issued and outstanding. All profits and losses are allocated to the Members. The Company’s equity activity is recorded through the Members’ capital account.

NOTE 6 – STOCK-BASED COMPENSATION

The Company accounts for share-based compensation arrangements in accordance with ASC 718, Compensation - Stock Compensation. Stock-based compensation expense is recognized for equity awards issued to employees and non-employee service providers in exchange for services.

During the period February 10, 2025 (inception) through September 30, 2025, the Company issued membership units to certain service providers in exchange for services rendered. The membership units are classified as equity-settled awards. Compensation cost is measured at the grant-date fair value of the membership units issued.

The fair value of the membership units was determined using a Black-Scholes model, which incorporated assumptions including enterprise value, discount rates, expected volatility, lack of marketability, and other relevant factors.

| F-44 |

For awards that were fully vested upon issuance, the Company recognized compensation expense immediately. For awards subject to service-based vesting conditions, the Company recognizes compensation expense on a straight-line basis over the requisite service period, which represents the period over which the related services are expected to be provided. The Company accounts for forfeitures as they occur.

Stock-based compensation expense related to the issuance of membership units was $3,541 the period February 10, 2025 (inception) through September 30, 2025 and is included in general and administrative expense in the accompanying statements of operations. The issuance of membership units for services resulted in an increase to members’ capital and did not involve the use of cash.

As of September 30, 2025, total unrecognized compensation cost related to unvested membership units was $15,489, which is expected to be recognized over a weighted-average period of 2.5 years.