Company: HVIIR
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001641172-25-023283
Chunk: 7

Company: Hennessy Capital Investment Corp. VII
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 7
---
 money market funds meeting certain
conditions under Rule 2a-7 under the Investment Company Act, which invest only in direct U.S. government treasury obligations, and/or
(ii) deposited in an interest-bearing demand deposit account at a U.S.-chartered commercial bank with consolidated assets of $50 billion
or more. To mitigate the risk that the Company might be deemed to be an investment company for purposes of the Investment Company Act,
which risk increases the longer that the Company holds investments in the Trust Account, the Company may, at any time (based on the management
team’s ongoing assessment of all factors related to the Company’s potential status under the Investment Company Act), instruct
the trustee to liquidate the investments held in the Trust Account and instead to hold the funds in the Trust Account in cash or in an
interest bearing account until the earlier of consummation of the Company’s Business Combination or liquidation of the Company.
Except with respect to interest earned on the funds held in the Trust Account that may be released to the Company to fund its working
capital requirements, subject to an annual limit of 5.0%, and to pay its taxes, other than excise taxes, if any, (“permitted withdrawals”)
and up to $100,000 of interest to pay dissolution expenses, the proceeds from the Initial Public Offering and the sale of the Private
Placement Units will not be released from the Trust Account until the earliest of (i) the completion of the Company’s Business
Combination, (ii) the redemption of the Company’s Class A ordinary shares sold as part of the Units in the Initial Public Offering
(the “public shares”) if the Company is unable to complete its Business Combination within 24 months from the closing of
the Initial Public Offering or by such earlier liquidation date as the Company’s board of directors may approve (the “Completion
Window”), subject to applicable law, or (iii) the redemption of the Company’s public shares properly submitted in connection
with a shareholder vote to amend the Company’s amended and restated memorandum and articles of association to (A) modify the substance
or timing of the Company’s obligation to allow redemption in connection with its Business Combination or to redeem 100% of the
Company’s public shares if the Company has not consummated its Business Combination within the Completion Window or (B) with respect
to any other provisions relating to shareholders’ rights or pre-Business Combination activity. The proceeds deposited in the Trust
Account could become subject to the claims of