Hennessy Capital Investment VII, a blank check company formed by Hennessy Capital targeting industrial tech and energy transition, raised $175 million by offering 17.5 million units at $10. Each unit consists of one share of common stock and one right to receive one-twelfth of a share upon the completion of an initial business combination.
Hennessy Capital Investment VII is led by CEO and Chairman Daniel Hennessy, who has led sponsor Hennessy Capital since founding the firm in 2013. The SPAC plans to target the industrial technology and energy transition sectors, focusing on businesses with enterprise values of $500 million or greater.
Hennessy has sponsored several previous SPACs. The most recent include Hennessy Capital Investment VI (HCVI; +6% from $10 offer price), which has a pending merger agreement with gold miner Namib Minerals; Hennessy Capital Investment V (HCIC), which liquidated after canceling plans to merge with self-driving truck tech developer Plus; and Hennessy Capital Acquisition IV, which completed its merger with EV developer Canoo (Nasdaq: GOEV; -99%) in 2020.
Hennessy Capital Investment VII plans to list on the Nasdaq under the symbol HVIIU. Cohen & Company Securities, Clear Street, and Loop Capital Markets acted as joint bookrunners on the deal.