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By Rayk Riechmann
With 12 successful SPAC transactions representing over $7 billion in enterprise value as an advisor or sponsor, Daniel Hennessy’s Hennessy Capital Group (HCG) has one of Wall Street’s most impressive track records in helping private companies go public, access capital, strengthen operations, and build shareholder value.
Now, Hennessy Capital Investment Corp. (HVII) is available to all investors as another blank-check company sponsored by HCG. With over $190 million in trust, the vehicle is likely to partner with a private company with an enterprise value of $500 million or more to pursue a public listing. In particular, HVII seeks firms that offer high-growth potential with differentiated technology in the industrial tech and energy transition sectors.
The first thing to note about HCG is its history of serial successes – which sets it apart from many, many on-off sponsors who came to market in the last boom and have since vanished. HCG’s successful de-SPAC transactions include Blue Bird Corp., Daseke, LatAm Logistics Properties, and most recently Namib Minerals. The HVII team is led by Mr. Hennessy himself, along with colleagues who have demonstrated talent for accelerating public readiness, attracting strategic partners, and optimizing capital structure.
Mr. Hennessy seems keenly aware of imperfections in the SPAC model and has made changes to improve it. First, he has replaced problematic warrants with rights, simplifying the capital structure with less dilution risk to make it more shareholder friendly. Second, HVII employs performance-based underwriting fees, reducing transaction costs while a Cayman domicile enables efficient cross-border deal execution. And investors should know that HCG has deep private-capital connections, having repeatedly secured PIPE financing from reputable institutional investors.
With unparalleled capital markets experience through many years of changing markets, HCG truly stands out from the pack and has potential to reward shareholders who get involved before a transaction announcement hits the tape. Read more about past successes and goals for HVII in our detailed initiation report below.
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