Company: HVIIR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001741
Chunk: 74

Company: Hennessy Capital Investment Corp. VII
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 74
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HVII is a SPAC makes compliance with the requirements of the Sarbanes-Oxley Act particularly burdensome on HVII as compared to other
public companies because a target company with which HVII seeks to complete its initial business combination may not be in compliance
with the provisions of the Sarbanes-Oxley Act regarding adequacy of its internal controls. The development of the internal control of
any such entity to achieve compliance with the Sarbanes-Oxley Act may increase the time and costs necessary to complete any such business
combination.

HVII
does not have a specified maximum redemption threshold. The absence of such a redemption threshold may make it possible for HVII to complete
an initial business combination with which a substantial majority of its shareholders do not agree.

HVII’s
amended and restated memorandum and articles of association do not provide a specified maximum redemption threshold. HVII’s initial
proposed 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. As a result, HVII may be able to complete
its initial business combination even though a substantial majority of its public shareholders do not agree with the transaction and
have redeemed their shares or, if HVII seeks shareholder approval of its initial business combination and does not conduct redemptions
in connection with its initial business combination pursuant to the tender offer rules, have entered into privately negotiated agreements
to sell their shares to HVII’s sponsor, officers, directors or their affiliates. 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 initial business combination exceed the aggregate amount of cash available to HVII,
it will not complete the initial business combination or redeem any shares, all Class A ordinary shares submitted for redemption will
be returned to the holders thereof, and HVII instead may search for an alternate business combination.

  42  

In
order to effectuate an initial business combination, SPACs have, in the recent past, amended various provisions of their charters and
other governing instruments. HVII cannot assure investors that it will not seek to amend its amended and restated memorandum and articles
of