Company: HVIIR
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023499
Chunk: 21

Company: Hennessy Capital Investment Corp. VII
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 21
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 loan the Company an aggregate of up to $250,000 to be used for a portion of the expenses of the Initial Public Offering
(the “Promissory Note”). The Promissory Note is non-interest bearing, unsecured and due at the earlier of March 31, 2025
or the closing of the Initial Public Offering. During the year ended December 31, 2024, the Company had borrowed $76,790 under the Promissory
Note. On January 21, 2025, the Company repaid the total outstanding balance of the Promissory Note amounting to $109,994. As of September
30, 2025 and December 31, 2024, the Company had $0 and $76,790, respectively, outstanding balance under the Promissory Note. No further
borrowings are available under the Promissory Note.

Working
Capital Loans

In
order to finance transaction costs in connection with a Business Combination, the Sponsor or an affiliate of the Sponsor or certain of
the Company’s officers and directors may, but are not obligated to, loan the Company funds as may be required (the “Working
Capital Loans”). If the Company completes a Business Combination, the Company would repay the Working Capital Loans. In the event
that a Business Combination does not close, the Company may use a portion of the working capital held outside the Trust Account to repay
the Working Capital Loans but no proceeds from the Trust Account would be used to repay the Working Capital Loans. Up to $2,500,000 of
such Working Capital Loans may be convertible into Private Placement Units of the post Business Combination entity at a price of $10.00
per Unit at the option of the lender. As of September 30, 2025 and December 31, 2024, no such Working Capital Loans were outstanding.

Administrative
Services Agreement and Payments to Officer and Consultants

The
Company entered into an agreement with the Sponsor, commencing on January 17, 2025 through the earlier of the Company’s consummation
of a Business Combination and its liquidation, to pay an aggregate of $15,000 per month for office space, utilities, and secretarial
and administrative support services, which amount increased to $25,000 per month beginning September 1, 2025. For the three and nine
months ended September 30, 2025, the Company incurred and paid $55,000 and $137,258 administrative services