Company: HVIIR
Filing Date: 2025-01-13
Form Type: S-1/A
Source: 0001493152-25-001958
Chunk: 243

Company: Hennessy Capital Investment Corp. VII
Filing Date: 2025-01-13
Form: S-1/A
Chunk 243
---
 the running of the applicable holding period for this purpose. U.S. Holders should consult their tax advisors regarding the availability of such lower rate for any dividends paid with respect to our Class A ordinary shares.

Gain or Loss on Sale, Taxable Exchange or Other Taxable Disposition of Class A Ordinary Shares and Share Rights

Subject to the PFIC rules discussed below, a U.S. Holder generally will recognize capital gain or loss on the sale or other taxable disposition of our Class A ordinary shares or Share Rights (including on our dissolution and liquidation if we do not complete our initial business combination within the required time period). Any such capital gain or loss generally will be long-term capital gain or loss if the U.S. Holder’s holding period for such Class A ordinary shares or Share Rights exceeds one year. Long-term capital gains recognized by non-corporate U.S. Holders are generally subject to U.S. federal income tax at a reduced rate of tax. It is unclear, however, whether certain redemption rights described in this prospectus may suspend the running of the applicable holding period for this purpose.

The amount of gain or loss recognized on a sale or other taxable disposition generally will be equal to the difference between (i) the sum of the amount of cash and the fair market value of any property received in such disposition (or, if the Class A ordinary shares and Share Rights are transferred together, the portion of the amount realized on such disposition that is allocable to the Class A ordinary shares or Share Rights based upon their then relative fair market values) and (ii) the U.S. Holder’s adjusted tax basis in such Class A ordinary shares and/or Share Rights. A U.S. Holder’s adjusted tax basis in its Class A ordinary shares and Share Rights generally will equal the U.S. Holder’s acquisition cost (that is, the portion of the purchase price of a unit allocated to a Class A ordinary share or Share Right, as described above under “—Allocation of Purchase Price and Characterization of a Unit”) increased by any tax basis held in Class A ordinary shares, if any, which had been previously redeemed from such U.S. Holder by us in a redemption treated as a dividend under Section 302 (as described below in “—Redemption of Class A Ordinary Shares”), reduced, in the case of any Class A ordinary shares, by any prior distributions treated as a return of capital. See “—Acquisition of Class A Ordinary Shares Pursuant to or Lapse of a Share Right” below for a discussion regarding a U