Company: HVIIR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001741
Chunk: 85

Company: Hennessy Capital Investment Corp. VII
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 85
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, and final regulations on June 28, 2024,
which generally adopt (but in some respects expand or modify) the rules and guidance set forth in the earlier notice. Although such notice
and Treasury regulations clarify certain aspects of the Excise Tax, the interpretation and operation of certain other aspects of the
Excise Tax remain unclear.

HVII
is currently not a “covered corporation” for purposes of the Excise Tax. If HVII were to become a “covered corporation”
in the future, whether in connection with the consummation of its initial business combination with a U. S. company (including if HVII
were to redomicile as a U. S. corporation in connection therewith) or otherwise, whether and to what extent HVII would be subject to the
Excise Tax on a redemption of its shares would depend on a number of factors, including (i) whether the redemption is treated as a repurchase
of stock for purposes of the Excise Tax, (ii) the fair market value of the redemption treated as a repurchase of stock, (iii) the structure
of HVII’s initial business combination, (iv) the nature and amount of any “ PIPE” or other equity issuances (whether
in connection with HVII’s initial business combination or otherwise) issued within the same taxable year of a redemption treated
as a repurchase of stock and (v) the content of any other guidance from the Treasury. The imposition of the Excise Tax on HVII as a result
of redemptions by HVII could, however, reduce the amount of cash available to the target business in connection with HVII’s initial
business combination, which could cause investors in HVII’s securities who do not redeem or the other shareholders of the combined
company to economically bear the impact of such Excise Tax. However, HVII will not use the proceeds placed in the Trust Account, or the
interest earned on the proceeds placed in the Trust Account, to pay for possible excise tax or any other fees or taxes that may be levied
on the Company on any redemptions or stock buybacks by the Company pursuant to any current, pending or further rules or laws, including
without limitation any Excise Tax, prior to release of such funds from the Trust Account following HVII’s initial business combination.

  47  

If
HVII effects its initial business combination with a company with operations or opportunities outside of the United States, it may face
additional burdens in