Company: HVIIR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001741
Chunk: 82

Company: Hennessy Capital Investment Corp. VII
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 82
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 after the completion of its initial business
combination will not be the determining factor in its decision as to whether or not it will proceed with any potential business combination.
There is no certainty, however, that any of HVII’s key personnel will remain with HVII after the completion of its initial business
combination. HVII cannot assure shareholders that any of its key personnel will remain in senior management or advisory positions with
HVII. The determination as to whether any of HVII’s key personnel will remain with HVII will be made at the time of its initial
business combination.

HVII
may have a limited ability to assess the management of a prospective target business and, as a result, may effect its initial business
combination with a target business whose management may not have the skills, qualifications or abilities to manage a public company,
which could, in turn, negatively impact the value of HVII’s shareholders’ investment in HVII.

When
evaluating the desirability of effecting HVII’s initial business combination with a prospective target business, its ability to
assess the target business’s management may be limited due to a lack of time, resources or information. HVII’s assessment
of the capabilities of the target’s management, therefore, may prove to be incorrect and such management may lack the skills, qualifications
or abilities HVII suspected. Should the target’s management not possess the skills, qualifications or abilities necessary to manage
a public company, the operations and profitability of the post-combination business may be negatively impacted. Accordingly, any public
shareholders who choose to remain shareholders following the initial business combination could suffer a reduction in the value of their
shares. Such shareholders are unlikely to have a remedy for such reduction in value.

  46  

Since
only holders of HVII’s Class B ordinary shares will have the right to vote on the appointment of directors, upon the listing of
HVII’s shares on Nasdaq, Nasdaq considers HVII to be a “controlled company” within the meaning of Nasdaq rules and,
as a result, HVII qualifies for exemptions from certain corporate governance requirements.

Only
holders of HVII’s Class B ordinary shares have the right to vote on the appointment of directors. As a result, Nasdaq considers
HVII to be a “controlled company” within the meaning of Nasdaq corporate governance standards. Under Nasdaq corporate governance
standards, a company of which more than 50% of the voting power is held by an individual, group or another company is