Company: HVIIR
Filing Date: 2025-12-23
Form Type: S-4
Source: 0001493152-25-029121
Chunk: 241

Company: Hennessy Capital Investment Corp. VII
Filing Date: 2025-12-23
Form: S-4
Chunk 241
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 a U.S. Holder of HVII Class A Ordinary Shares generally would recognize gain or loss with respect to its HVII Class A Ordinary Shares in an amount equal to the difference, if any, between the fair market value of the corresponding shares of New ONE Nuclear Common Stock received in the Domestication and the U.S. Holder’s adjusted tax basis in its HVII Class A Ordinary Shares surrendered.

2. Basis and Holding Period Considerations

Assuming the Domestication qualifies as an F Reorganization, subject to the discussion below under the section entitled “ — 4. PFIC Considerations”: (a) the tax basis of a share of New ONE Nuclear Common Stock received by a U.S. Holder in the Domestication will equal the U.S. Holder’s tax basis in the HVII Class A Ordinary Share surrendered in exchange therefor, increased by any amount included in the income of such U.S. Holder as a result of Section 367 of the Code (as discussed below) and (b) the holding period for a share of New ONE Nuclear Common Stock received by a U.S. Holder will include such U.S. Holder’s holding period for the HVII Class A Ordinary Share surrendered in exchange therefor.

If the Domestication fails to qualify as an F Reorganization, the U.S. Holder’s basis in the shares of New ONE Nuclear Common Stock be equal to the fair market value of such shares of New ONE Nuclear Common Stock on the date of the Domestication, and such U.S. Holder’s holding period for such shares of New ONE Nuclear Common Stock would begin on the day following the date of the Domestication. Holders who hold different blocks of HVII Class A Ordinary Shares (generally, HVII Class A Ordinary Shares purchased or acquired on different dates or at different prices) should consult their tax advisors to determine how the above rules apply to them, and the discussion above does not specifically address all of the consequences to U.S. Holders who hold different blocks of HVII Class A Ordinary Shares

3.Effects of Section 367 to U.S. Holders of HVII Class A Ordinary Shares

Section 367 of the Code applies to certain transactions involving non-U.S. corporations, including a domestication of a non-U.S. corporation in a transaction that qualifies as an F Reorganization. Subject to the discussion below under the section entitled “ — 4. PFIC Considerations”, Section 367 of the Code imposes U.S. federal income tax on certain U.S. persons in connection with transactions that would