Company: HVIIR
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010497
Chunk: 12

Company: Hennessy Capital Investment Corp. VII
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 12
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 standard.
This may make comparison of the Company’s unaudited condensed financial statements with another public company which is neither
an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible
because of the potential differences in accounting standards used.

Use of Estimates

The preparation of
unaudited condensed financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect
the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited condensed
financial statements and the reported amounts of expenses during the reporting period.

Making estimates requires
management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation
or set of circumstances that existed at the date of the unaudited condensed financial statements, which management considered in formulating
its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ
significantly from those estimates.

    8

HENNESSY CAPITAL INVESTMENT CORP. VII

NOTES
TO CONDENSED FINANCIAL STATEMENTS

MARCH
31, 2025

(UNAUDITED)

Cash and Cash Equivalents

The Company considers
all short-term investments with an original maturity of three months or less when purchased to be cash equivalents. The Company had $0
and $20,005 in cash and $2,044,292 and $0 in cash equivalents held in a money market account as of March 31, 2025 and December 31, 2024,
respectively.

Marketable
Securities Held in Trust Account

As of March 31, 2025 the assets held in the Trust Account amounted to $191,494,489. The Company classifies its U.S.
Treasury and equivalent securities as held to maturity in accordance with ASC Topic 320, “Investments - Debt and Equity Securities.”
Held-to-maturity securities are those securities which the Company has the ability and intent to hold until maturity. Held-to-maturity
treasury securities are recorded at amortized cost on the accompanying balance sheets and adjusted for the amortization or accretion of
premiums or discounts. When the Company’s investments held in the Trust Account are comprised of money market securities, the investments
are classified as trading securities. Gains and losses resulting from the change in fair value of these securities are included in interest
earned