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

Company: Hennessy Capital Investment Corp. VII
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 31
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, the approval of its initial business combination will require a special
resolution, which requires the affirmative vote of at least two-thirds of the votes cast by such shareholders as, being entitled to do
so, vote in person or, where proxies are allowed, by proxy at the applicable general meeting of the company, voting together as a single
class. In addition, prior to the closing of HVII’s initial business combination, only holders of its Class B ordinary shares (i)
will have the right to vote to appoint and remove directors prior to or in connection with the completion of its initial business combination
and (ii) will be entitled to vote on continuing HVII in a jurisdiction outside the Cayman Islands (including any special resolution required
to adopt new constitutional documents as a result of its approving a transfer by way of continuation in a jurisdiction outside the Cayman
Islands). These quorum and voting thresholds and the agreement of its initial shareholders may make it more likely that HVII will consummate
its initial business combination. Each public shareholder may elect to redeem their public shares irrespective of whether they vote for
or against the proposed transaction, or whether they do not vote or abstain from voting on the proposed transaction, or whether they
were a public shareholder on the record date for the general meeting held to approve the proposed transaction.

HVII’s
proposed initial business combination may impose a minimum cash requirement for: (i) cash consideration to be paid to the target or its
owners; (ii) cash to be transferred to the target for working capital or other general corporate purposes; or (iii) the retention of
cash to satisfy other conditions in accordance with the terms of the proposed business combination. In the event the aggregate cash consideration
HVII would be required to pay for all Class A ordinary shares that are validly submitted for redemption plus any amount required to satisfy
cash conditions pursuant to the terms of the proposed business combination exceed the aggregate amount of cash available to HVII, it
will not complete the business combination or redeem any shares, and all Class A ordinary shares submitted for redemption will be returned
to the holders thereof.

  18  

Limitation
on Redemption Upon Completion of HVII’s Initial Business Combination if it Seeks Shareholder Approval

Notwithstanding
the foregoing, if HVII seeks shareholder approval of its initial business combination and it does not conduct redemptions in connection
with its initial business combination pursuant to the tender offer rules, its amended and restated memorandum and articles of association
provide that