Company: HVIIR
Filing Date: 2025-01-13
Form Type: S-1/A
Source: 0001493152-25-001958
Chunk: 191

Company: Hennessy Capital Investment Corp. VII
Filing Date: 2025-01-13
Form: S-1/A
Chunk 191
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 appoint persons to the offices set forth in our amended and restated memorandum and articles of association as it deems appropriate. Our amended and restated memorandum and articles of association will provide that our officers may consist of a Chief Executive Officer, a President, a Chief Financial Officer, Vice Presidents, a Secretary, Assistant Secretaries, a Treasurer, Assistant Treasurers and such other offices as may be determined by the board of directors.

Director Independence

Nasdaq listing standards require that a majority of our board of directors be independent. An “independent director” is defined generally as a person other than an officer or employee of the company or its subsidiaries or any other individual having a relationship which in the opinion of the company’s board of directors, would interfere with the director’s exercise of independent judgment in carrying out the responsibilities of a director. Upon the effectiveness of the registration statement of which this prospectus forms a part, we expect to have three “independent directors” as defined in Nasdaq listing standards and applicable SEC rules. Our audit committee will be entirely composed of independent directors meeting Nasdaq’s additional requirements applicable to members of the audit committee. Our independent directors will have regularly scheduled meetings at which only independent directors are present.

Executive Officer and Director Compensation

None of our officers or directors have received to date any compensation for services rendered to us. Our sponsor, officers, directors and their respective affiliates will be reimbursed for any out-of-pocket expenses incurred in connection with activities on our behalf such as identifying potential target businesses and performing due diligence on suitable business combinations. In addition, commencing on the date on which our securities are first listed on Nasdaq, we will pay an amount equal to $15,000 per month to an affiliate of our sponsor for office space, utilities and secretarial and administrative support, and , and we will pay Nicholas Geeza, our Chief Financial Officer, $10,000 per month for his services prior to the consummation of our initial business combination or until our liquidation. Each of Grant R. Allen, Brian Bonner, Anna Brunelle and Javier Saade received 25,000 founder shares for his or her service as a director and Poonam Sharma received 30,000 founder shares for her service as a director. Our audit committee will review on a quarterly basis all payments that were made by us to our sponsor, officers, directors or our or any of their respective affiliates.

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After the completion of our initial business combination, directors or members of our management team who remain with us