Company: HVIIR
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023499
Chunk: 42

Company: Hennessy Capital Investment Corp. VII
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 42
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or otherwise. Subject to compliance with applicable securities laws, HVII would only complete such financing simultaneously with the
completion of HVII’s business combination. If HVII is unable to complete its business combination because it does not have sufficient
funds available to it, HVII will be forced to cease operations and liquidate the Trust Account. In addition, following its business combination,
if cash on hand is insufficient, HVII may need to obtain additional financing in order to meet its obligations.

Off-Balance
Sheet Financing Arrangements

HVII
has no obligations, assets or liabilities, which would be considered off-balance sheet arrangements as of September 30, 2025. HVII does
not participate in transactions that create relationships with unconsolidated entities or financial partnerships, often referred to as
variable interest entities, which would have been established for the purpose of facilitating off-balance sheet arrangements. HVII has
not entered into any off-balance sheet financing arrangements, established any special purpose entities, guaranteed any debt or commitments
of other entities or purchased any non-financial assets.

Contractual
Obligations

HVII
does not have any long-term debt, capital lease obligations, operating lease obligations or long-term liabilities, other than an
agreement to pay, commencing on January 17, 2025, an aggregate of $15,000 per month for office space, utilities and secretarial and
administrative support services, which amount increased to an aggregate of $25,000 per month beginning September 1, 2025, and an
agreement to pay Nicholas Geeza, HVII’s chief financial officer, an aggregate of $10,000 per month. HVII began incurring these
fees on January 17, 2025, and will continue to incur these fees monthly until the earlier of the completion of its business
combination and its liquidation. HVII has agreed to pay consulting and advisory fees of $11,000 per month, with a discretionary annual bonus of up
to $25,000, to an affiliate of HVII’s sponsor for services related to the execution and consummation of a business combination,
which payments commenced in September 2025. An aggregate of approximately $9,068 was charged to operations for the three months and nine
months ended September 30, 2025 for such consulting and advisory services. In addition, in January 2025, HVII began to compensate a Vice
President of HVII $16