Company: HVIIR
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010497
Chunk: 77

Company: Hennessy Capital Investment Corp. VII
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 77
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ering costs.

HVII intends to use substantially
all of the funds held in the Trust Account, including any amounts representing interest earned on the Trust Account (which interest shall
be net of permitted withdrawals and excluding deferred underwriting commissions), to complete its business combination. To the extent
that HVII’s share capital or debt is used, in whole or in part, as consideration to complete its business combination, the remaining
proceeds held in the Trust Account will be used as working capital to finance the operations of the target business or businesses, make
other acquisitions and pursue its growth strategies.

HVII intends to 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