Company: HVIIR
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001641172-25-023283
Chunk: 89

Company: Hennessy Capital Investment Corp. VII
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 2
Chunk 89
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 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 to such
loans. HVII does not expect to seek loans from parties other than HVII’s sponsor, an affiliate of HVII’s sponsor or its officers
and directors, if any, as HVII does not believe third parties will be willing to loan such funds and provide a waiver against any and
all rights to seek access to funds in the Trust Account.

22

HVII
does not believe it will need to raise additional funds in order to meet the expenditures required for operating its business. However,
if HVII’s estimate of the costs of identifying a target business, undertaking in-depth due diligence and negotiating a business
combination are less than the actual amount necessary to do so, HVII may have insufficient funds available to operate its business prior
to its business combination. Moreover, HVII may need to obtain additional financing either to complete its business combination or because
it becomes obligated to redeem a significant number of its