Company: HVIIR
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001641172-25-023283
Chunk: 36

Company: Hennessy Capital Investment Corp. VII
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 36
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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 or HVII’s officers and directors, if any, have not been determined and no written agreements exist with respect