Company: HVIIR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001741
Chunk: 34

Company: Hennessy Capital Investment Corp. VII
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 34
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 business combination during which he or she could monitor the price of the
company’s ordinary shares in the market. If the price rose above the redemption price, he or she could sell his or her shares in
the open market before actually delivering his or her shares to the company for cancellation. As a result, the redemption rights, to
which shareholders were aware they needed to commit before the general meeting, would become “option” rights surviving past
the completion of the business combination until the redeeming holder delivered its certificate. The requirement for physical or electronic
delivery prior to the meeting ensures that a redeeming holder’s election to redeem is irrevocable once the business combination
is approved.

  19  

Any
request to redeem such shares, once made, may be withdrawn at any time up to the date set forth in the tender offer materials or the
date of the general meeting set forth in HVII’s proxy materials, as applicable. Furthermore, if a holder of a public share delivered
its certificate in connection with an election of redemption rights and subsequently decides prior to the applicable date not to elect
to exercise such rights, such holder may simply request that the transfer agent return the certificate (physically or electronically).
It is anticipated that the funds to be distributed to holders of public shares electing to redeem their shares will be distributed promptly
after the completion of HVII’s initial business combination.

If
HVII’s initial business combination is not approved or completed for any reason, then its public shareholders who elected to exercise
their redemption rights would not be entitled to redeem their shares for the applicable pro rata share of the trust account. In such
case, HVII will promptly return any certificates delivered by public holders who elected to redeem their shares.

If
HVII’s initial proposed business combination is not completed, it may continue to try to complete a business combination with a
different target until the end of the completion window.

Redemption
of Public Shares and Liquidation if no Initial Business Combination

HVII’s
amended and restated memorandum and articles of association provide that HVII will have only the time of the completion window to complete
its initial business combination. If HVII is unable to complete its initial business combination within such completion window, it will:
(i) cease all operations except for the purpose of winding up; (ii) as promptly as reasonably possible but not more than ten business
days thereafter, redeem the public shares, at a per share price, payable in cash, equal to the aggregate amount