Company: HVIIR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001741
Chunk: 42

Company: Hennessy Capital Investment Corp. VII
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 42
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II’s
sponsor has agreed that it will be liable to HVII if and to the extent any claims by a third party (other than HVII’s independent
registered public accounting firm) for services rendered or products sold to HVII, or a prospective target business with which HVII has
discussed entering into a transaction agreement, reduce the amount of funds in the trust account to below: (1) $10.00 per public share;
or (2) the actual amount per public share held in the trust account as of the date of the liquidation of the trust account, if less than
$10.00 per share due to reductions in the value of the trust assets, in each case, net of permitted withdrawals, except as to any claims
by a third party that executed a waiver of any and all rights to the monies held in the trust account (whether any such waiver is enforceable)
and except as to any claims under HVII’s indemnity of the underwriters of HVII’s initial public offering against certain
liabilities, including liabilities under the Securities Act. HVII has not independently verified whether its sponsor has sufficient funds
to satisfy its indemnity obligations and believes that the sponsor’s only assets are securities of HVII and, therefore, the sponsor
may not be able to satisfy those obligations. HVII has not asked its sponsor to reserve for such obligations. Therefore, HVII cannot
assure investors that the sponsor would be able to satisfy those obligations. HVII believes the likelihood of the sponsor having to indemnify
the trust account is limited because HVII will endeavor to have all vendors and prospective target businesses as well as other entities
execute agreements with HVII waiving any right, title, interest or claim of any kind in or to monies held in the trust account.

Employees

HVII
currently has three individual independent contractor service providers for its various officer positions and does not intend to have
any employees prior to the completion of its initial business combination. Members of HVII’s management team are not obligated
to devote any specific number of hours to HVII’s matters but they devote as much of their time as they deem necessary to HVII’s
affairs and intend to continue doing so until HVII has completed its initial business combination. The amount of time that any such person
devotes in any time period to HVII may vary based on whether a target business has been selected for HVII’s initial business combination
and the current stage of the business combination process.

Periodic