Company: HVIIR
Filing Date: 2025-12-23
Form Type: S-4
Source: 0001493152-25-029121
Chunk: 177

Company: Hennessy Capital Investment Corp. VII
Filing Date: 2025-12-23
Form: S-4
Chunk 177
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 notice of termination to the other 
 party prior to expiration.                                                                    |

On June 27, 2025, Mr. Daniel Hennessy, Mr. Thomas Hennessy, Mr. Nick Geeza and Ms. Megan Cai of HVII held a videoconference with Messrs. Taylor, Carilli and Dowd of ONE Nuclear and representatives of B. Riley to discuss the terms of HVII’s draft letter of intent, the proposed transaction structure, process and valuation.

On June 30, 2025, B. Riley held a videoconference with HVII’s management team to address HVII’s follow-up due diligence questions regarding ONE Nuclear’s business model and plans, including with respect to the technology of, and ONE Nuclear’s commercial relationship with, Rolls-Royce SMR.

On July 9, 2025, Mr. Daniel Hennessy, Mr. Thomas Hennessy, Mr. Nick Geeza and Ms. Megan Cai of HVII held a videoconference with Messrs. Taylor, Carilli and Dowd of ONE Nuclear and representatives of B. Riley to discuss the terms of HVII’s June 23, 2025 draft letter of intent, including a reduction in the pre-money equity valuation to $1 billion and the potential addition of an earnout structure. The revised pre-money equity valuation reflected the parties’ agreement that a $1 billion valuation for ONE Nuclear at closing, coupled with a post-closing earnout, would better facilitate the combined company securing a greater amount of cash at the Closing by making the proposed business combination more attractive both to potential investors in the PIPE Investment and to current HVII Shareholders who might otherwise exercise their Redemption Rights.

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On July 10, 2025, HVII sent B. Riley and ONE Nuclear a proposed earnout structure of up to an additional 13.0 million shares of the combined company, one-third of which would be earned upon the achievement during the three-year period following the Closing of the combined company’s share price being greater than or equal to each of the three following share price thresholds: $12.50, $15.00 and $17.50. B. Riley confirmed on July 11, 2025 that the ONE Nuclear team was pleased with the proposed earnout structure and requested that HVII update its non-binding letter of intent accordingly.

On July 18, 2025, HVII submitted a revised non-binding letter of intent to B. Riley and ONE Nuclear based on feedback received during the