Company: HVIIR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001741
Chunk: 80

Company: Hennessy Capital Investment Corp. VII
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 80
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HVII’s
initial shareholders own shares representing 24% of its issued and outstanding ordinary shares. Accordingly, they may exert a substantial
influence on actions requiring a shareholder vote, potentially in a manner that shareholders do not support, including amendments to
HVII’s amended and restated memorandum and articles of association and approval of major corporate transactions. If HVII’s
initial shareholders purchase any additional ordinary shares in the aftermarket or in privately negotiated transactions, this would increase
their control. Factors that would be considered in making such additional purchases would include consideration of the current trading
price of HVII’s Class A ordinary shares. In addition, HVII may not hold an annual general meeting to elect new directors prior
to the completion of its initial business combination, in which case all of the current directors, who were elected by HVII’s initial
shareholders, will continue in office until at least the completion of the initial business combination. Prior to the consummation of
HVII’s initial business combination, only holders of its Class B ordinary shares will have the right to vote on the appointment
or removal of directors. Holders of HVII’s public shares will have no right to vote on the appointment or removal of directors
during such time. Further, prior to the closing of HVII’s initial business combination, only holders of its Class B ordinary shares
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 HVII approving a transfer by way of continuation in a jurisdiction outside the Cayman
Islands). These provisions of HVII’s amended and restated memorandum and articles of association may only be amended if approved
by a special resolution passed by the affirmative vote of at least 90% (or, where such amendment is proposed in respect of the consummation
of HVII’s initial business combination, 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. As
a result, shareholders will not have any influence over the appointment or removal of directors prior to HVII’s initial business
combination or any influence over its continuation in a jurisdiction outside the Cayman Islands prior to its initial business combination.
Accordingly, HVII’s initial shareholders will continue to exert control at least until the completion of its initial business combination.