Company: HVIIR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001741
Chunk: 22

Company: Hennessy Capital Investment Corp. VII
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 22
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at the time of HVII’s agreement to enter into its initial business combination. If HVII’s securities are no longer listed
on Nasdaq, HVII will not be obligated to satisfy such 80% test. The fair market value of HVII’s initial business combination will
be determined by its board of directors based upon one or more standards generally accepted by the financial community, such as discounted
cash flow valuation, a valuation based on trading multiples of comparable public businesses, or a valuation based on the financial metrics
of M& A transactions of comparable businesses. If HVII’s board is not able to independently determine the fair market value
of the target business or businesses, HVII will obtain an opinion from an independent investment banking firm that is a member of FINRA
or from an independent public accounting firm, with respect to the satisfaction of such criteria. HVII does not currently intend to purchase
multiple businesses in unrelated industries in conjunction with its initial business combination, although there is no assurance that
will be the case. Subject to this requirement, HVII’s management will have virtually unrestricted flexibility in identifying and
selecting one or more prospective target businesses, although HVII will not be permitted to effectuate its initial business combination
with another SPAC or a similar company with nominal operations.

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In
any case, HVII will only complete an initial business combination in which it owns or acquires 50% or more of the outstanding voting
securities of the target or otherwise acquires a controlling interest in the target sufficient for it not to be required to register
as an investment company under the Investment Company Act. If HVII owns or acquires less than 100% of the equity interests or assets
of a target business or businesses, the portion of such business or businesses that are owned or acquired by the post-transaction company
is what will be taken into account for purposes of Nasdaq’s 80% of net assets test. There is no basis for investors in HVII to
evaluate the possible merits or risks of any target business with which HVII may ultimately complete its initial business combination.

To
the extent HVII effects its initial business combination with a company or business that may be financially unstable or in its early
stages of development or growth, HVII may be affected by numerous risks inherent in such company or business. Although HVII’s management
will endeavor to evaluate the risks inherent in a particular target business, HVII cannot assure investors that it will properly ascertain
or assess all