Company: HVIIR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001741
Chunk: 78

Company: Hennessy Capital Investment Corp. VII
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 78
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 will have the discretion to vote in any manner they choose. As a result, HVII may be able to amend the provisions
of its amended and restated memorandum and articles of association which govern its pre-initial business combination behavior more easily
than some other SPACs, and this may increase HVII’s ability to complete an initial business combination with which public shareholders
do not agree. HVII’s shareholders may pursue remedies against HVII for any breach of its amended and restated memorandum and articles
of association.

HVII’s
initial shareholders, officers and directors have agreed, pursuant to a letter agreement with HVII, that they will not propose any amendment
to HVII’s amended and restated memorandum and articles of association (i) to modify the substance or timing of HVII’s obligation
to provide for the redemption of HVII’s public shares in connection with an initial business combination or to redeem 100% of HVII’s
public shares if HVII has not consummated its initial business combination within the completion window or (ii) with respect to any other
provision relating to shareholders’ rights or pre-initial business combination activity, unless HVII provides its public shareholders
with the opportunity to redeem their Class A ordinary shares upon approval of any such amendment at a per-share price, payable in cash,
equal to the aggregate amount then on deposit in the trust account, divided by the number of then outstanding public shares. These agreements
are contained in a letter agreement that HVII has entered into with its initial shareholders, officers and directors. HVII’s shareholders
are not parties to, or third-party beneficiaries of, these agreements and, as a result, will not have the ability to pursue remedies
against HVII’s sponsor, officers or directors for any breach of these agreements. As a result, in the event of a breach, HVII’s
shareholders would need to pursue a shareholder derivative action, subject to applicable law.

  44  

HVII
may be unable to obtain additional financing to complete its initial business combination or to fund the operations and growth of a target
business, which could compel HVII to restructure or abandon a particular business combination.

HVII
has not selected any specific business combination target, but intends to target businesses larger than it could acquire with the net
proceeds of HVII’s initial public offering and the sale of the private placement units. As a result, HVII may be required to seek
additional financing to complete such proposed initial business combination. HVII cannot