Company: HVIIR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001741
Chunk: 15

Company: Hennessy Capital Investment Corp. VII
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 15
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 assets or prospects. Additionally, pursuant to Nasdaq
rules, any initial business combination must be approved by a majority of HVII’s independent directors.

HVII
anticipates structuring its initial business combination either (i) in such a way so that the post-transaction company in which its public
shareholders own shares will own or acquire 100% of the outstanding equity interests or assets of the target business or businesses,
or (ii) in such a way that the post-transaction company owns or acquires less than 100% of such interests or assets of the target business
in order to meet certain objectives of the target management team or shareholders or for other reasons. However, HVII will only complete
an initial business combination if the post-transaction company owns or acquires 50% or more of the outstanding voting securities of
the target or otherwise acquires a controlling interest in the target sufficient for it not to be required to register as an investment
company under the Investment Company Act of 1940, as amended (the “ Investment Company Act”). Even if the post-transaction
company owns or acquires 50% or more of the voting securities of the target, HVII’s shareholders prior to its initial business
combination may collectively own a minority interest in the post-transaction company, depending on valuations ascribed to the target
and HVII in its initial business combination transaction. For example, HVII could pursue a transaction in which it issues a substantial
number of new shares in exchange for all of the outstanding capital stock, shares or other equity interests of a target. In this case,
HVII would acquire a 100% controlling interest in the target. However, as a result of the issuance of a substantial number of new shares,
HVII’s shareholders immediately prior to its initial business combination could own less than a majority of its outstanding shares
subsequent to its initial business combination. If less than 100% of the equity interests or assets of a target business or businesses
are owned or acquired by the post-transaction company, the portion of such business or businesses that is owned or acquired is what will
be taken into account for purposes of Nasdaq’s 80% of net assets test. If the initial business combination involves more than one
target business, the 80% of net assets test will be based on the aggregate value of all of the transactions, and HVII will treat the
target businesses together as the initial business combination for purposes of a tender offer or for seeking shareholder