Company: HVIIR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001741
Chunk: 96

Company: Hennessy Capital Investment Corp. VII
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 96
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HVII’s
officers and directors are not required to, and will not, commit their full time to HVII’s affairs, which may result in a conflict
of interest in allocating their time between HVII’s operations and HVII’s search for an initial business combination and
their other businesses. HVII does not intend to have any employees prior to the completion of its initial business combination. Each
of HVII’s officers is engaged in other business endeavors for which he may be entitled to substantial compensation and HVII’s
officers are not obligated to contribute any specific number of hours per week to HVII’s affairs. HVII’s independent directors
may also serve as officers or board members for other entities. If HVII’s officers’ and directors’ other business affairs
require them to devote substantial amounts of time to such affairs in excess of their current commitment levels, it could limit their
ability to devote time to HVII’s affairs which may have a negative impact on HVII’s ability to complete its initial business
combination. For a complete discussion of HVII’s officers’ and directors’ other business affairs, please see the section
of this Report entitled “ Directors, Executive Officers and Corporate Governance.

Certain
of HVII’s officers and directors are now, and all of them may in the future become, affiliated with entities engaged in business
activities similar to those intended to be conducted by HVII and, accordingly, may have conflicts of interest in allocating their time
and determining to which entity a particular business opportunity should be presented.

Until
HVII consummates its initial business combination, HVII intends to engage in the business of identifying and combining with one or more
businesses. HVII’s sponsor and its affiliates and HVII’s officers and directors are, and may in the future become, affiliated
with entities (such as operating companies or investment vehicles) that are engaged in a similar business, including other SPACs before
HVII has entered into a definitive agreement regarding its initial business combination.

HVII’s
officers and directors also may become aware of business opportunities which may be appropriate for presentation to HVII and the other
entities to which they owe certain fiduciary or contractual duties.

In
addition, HVII’s management team and sponsor are, and/or may in the future become affiliated with other SPACs or other entities
that may have acquisition objectives that are similar to HVII’s. Such entities may compete with HVII for acquisition opportunities.
If such entity decides to pursue any such