Company: HVIIR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001741
Chunk: 17

Company: Hennessy Capital Investment Corp. VII
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 17
---
 opportunity to HVII. These
conflicts may not be resolved in HVII’s favor and a potential target business may be presented to another entity prior to its presentation
to HVII. HVII’s amended and restated memorandum and articles of association provide that HVII renounces its interest in any corporate
opportunity offered to any director or officer unless (i) such opportunity is expressly offered to such person solely in his or her capacity
as a director or officer of HVII, (ii) such opportunity is one HVII is legally and contractually permitted to undertake and would otherwise
be reasonable for HVII to pursue and (iii) the director or officer is permitted to refer the opportunity to HVII without violating another
legal obligation. As a result, the fiduciary, contractual or other obligations or duties of HVII’s officers or directors could
materially affect HVII’s ability to complete its initial business combination.

HVII’s
sponsor, officers and directors may participate in the formation of, or become an officer or director of, any other SPAC prior to completion
of HVII’s initial business combination. As a result, HVII’s sponsor, officers or directors could have conflicts of interest
in determining whether to present business combination opportunities to HVII or to any other SPAC with which they may become involved.
For example, each of Mr. Daniel J. Hennessy and Mr. Geeza is currently an officer of Hennessy VI and owes fiduciary duties to Hennessy
VI, which may compete with HVII for acquisition opportunities. Although HVII has no formal policy in place for vetting potential conflicts
of interest, HVII’s board of directors will review any potential conflicts of interest on a case-by-case basis. In particular,
affiliates of HVII’s sponsor are currently sponsoring one other SPAC, Hennessy VI. Any such companies, including Hennessy VI, may
present additional conflicts of interest in pursuing an acquisition target. However, HVII does not believe that any potential conflicts
with Hennessy VI would materially affect HVII’s ability to complete its initial business combination, because HVII’s management
team has significant experience in identifying and executing multiple acquisition opportunities simultaneously, HVII is not limited by
industry or geography in terms of the acquisition opportunities it can pursue, and Hennessy VI has executed a merger agreement with Namib
Materials, even though HVII expects that Hennessy VI will have priority over HVII with respect to acquisition opportunities