EX-99.1 2 ea149391ex99-1_hennessy6.htm UNAUDITED PRO FORMA BALANCE SHEET AS OF OCTOBER 1, 2021

Exhibit 99.1

 

HENNESSY CAPITAL INVESTMENT CORP. VI
PRO FORMA BALANCE SHEET

(dollar amounts rounded to thousands)

 

   As of             
   October 1, 2021   Pro Forma
Adjustments
       Pro Forma
As Adjusted
 
       (unaudited)       (unaudited) 
ASSETS                
Current assets:                
Cash  $3,378,000   $(819,000)      $3,378,000 
         819,000    e      
Prepaid expenses   968,000    -         968,000 
Total current assets   4,346,000    -         4,346,000 
Cash and investments held in Trust Account   300,000,000    40,930,000    a    340,930,000 
Total Assets  $304,346,000   $40,930,000        $345,276,000 
                     
LIABILITIES AND STOCKHOLDERS’ EQUITY                    
Current liabilities:                    
Accrued formation costs  $2,000    -        $2,000 
Accounts payable   1,226,000    -         1,226,000 
Accrued liabilities   91,000    -         91,000 
Total current liabilities   1,319,000    -         1,319,000 
Other liabilities:                    
Warrant liability   17,500,000    573,000    e      
         1,433,000    d    19,506,000 
Deferred underwriting compensation   10,500,000    1,433,000    b    11,933,000 
Total liabilities   29,319,000    7,225,000         36,544,000 
                     
Common stock subject to possible redemption; 30,000,000 shares and 34,092,954 shares as adjusted (at redemption value of $10.00 per share)   300,000,000    40,930,000    a      
         (819,000)   b      
         (1,433,000)   b      
         87,000    c      
         (1,433,000)   d      
         3,598,000    f    340,930,000 
                     
Commitments and contingencies Stockholders’ equity (deficit):                    
Preferred stock, $0.0001 par value; 1,000,000 shares authorized, none issued or outstanding   -    -         - 
Class A common stock, $0.0001 par value, 200,000,000 authorized shares, -0- shares issued and outstanding and -0- shares as adjusted (excluding 30,000,000 shares, and 34,092,954 shares as adjusted, subject to possible redemption)   -    -         - 
Class B common stock, $0.0001 par value, 20,000,000 authorized shares, 11,500,000 shares issued, and outstanding, actual and as adjusted(1)   1,000    -         1,000 
Additional paid-in-capital   -    246,000    e    - 
         (246,000)   f      
Accumulated deficit   (24,974,000)   (87,000)   c    (28,413,000)
         (3,352,000)   f      
Total stockholders’ (deficit)   (24,973,000)   (3,439,000)        (28,412,000)
Total liabilities and stockholders’ (deficit)  $304,346,000   $40,930,000         345,276,000 

 

(1)Includes an aggregate of 1,500,000 and 135,682 shares, respectively, of Class B common stock at October 1, 2021 and as adjusted, held by the Sponsor that are subject to forfeiture to the extent that the underwriters’ over-allotment option is not exercised in full.

 

See accompanying note to pro forma balance sheet

 

 

 

 

HENNESSY CAPITAL INVESTMENT CORP. VI
NOTE TO PRO FORMA BALANCE SHEET

(unaudited, and dollar amounts rounded to thousands)

 

NOTE 1 – CLOSING OF OVER-ALLOTMENT OPTION

 

The accompanying unaudited Pro Forma Balance Sheet presents the Balance Sheet of Hennessy Capital Investment Corp. VI (the “Company”) as of October 1, 2021, adjusted for the October 21, 2021 closing of the underwriters’ over-allotment option.

 

On October 21, 2021 the Company closed the underwriters’ over-allotment option of 4,092,954 units (a partial exercise), increasing the aggregate gross proceeds to the Company from its initial public offering by approximately $40,930,000 to approximately $340,930,000. The partial exercise of the underwriters’ over-allotment option resulted in an additional cash underwriting fee of approximately $819,000 and an additional deferred underwriting fee of approximately $1,433,000. Because only a portion of the underwriters’ over-allotment option was exercised (and assuming, no further exercise of the underwriters’ over-allotment option), then 135,682 Founders Shares would be forfeited by the Sponsor. Pro forma adjustments to reflect the exercise of the underwriters’ over-allotment option are as follows:

 

    Pro forma entry  Debit   Credit 
 a.   Cash held in Trust Account   40,930,000      
     Class A common stock subject to redemption        40,930,000 

To record the sale of 4,092,954 units at $10.00 and the deposit of $10.00 per share in the trust account

 

 b.   Class A common stock subject to redemption   819,000      
     Class A common stock subject to redemption   1,433,000      
     Cash        819,000 
     Deferred underwriting fee        1,433,000 

To record additional cash and deferred underwriting fees associated with over-allotment option exercise

 

 c.   Accumulated deficit   87,000      
     Common stock subject to redemption        87,000 

To allocate a portion of the costs associated with issuance of the warrants issued to expense not capital based on the relative value of the warrants vs. equity.

 

 d.   Class A common stock subject to redemption   1,433,000      
     Warrant liability        1,433,000 

To record warrant liability for additional public warrants

 

 e.   Cash from private placement warrant (“PPW”) sale proceeds   819,000      
     Additional paid-in-capital PPW proceeds over FMV        246,000 
     Warrant liability        573,000 

To record PPW sale proceeds and warrant liability for additional private warrants and PPW

 

 f.   Accumulated deficit   3,352,000      
     Additional paid-in-capital   246,000      
     Class A common stock subject to redemption        3,598,000 

To correctly state Class A common stock subject to redemption and additional paid-in-capital

 

No entry is shown for the forfeiture of 135,682 Founder Shares as the number of shares ultimately forfeited is not known until the over-allotment period has expired and further the dollar amount is below the rounded amounts being presented.