Company: HVIIR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001741
Chunk: 123

Company: Hennessy Capital Investment Corp. VII
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 123
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man Islands is derived in part from comparatively
limited judicial precedent in the Cayman Islands as well as from English common law, the decisions of whose courts are of persuasive
authority, but are not binding on a court in the Cayman Islands. The rights of HVII’s shareholders and the fiduciary responsibilities
of HVII’s directors under Cayman Islands law are different from what they would be under statutes or judicial precedent in some
jurisdictions in the United States. In particular, the Cayman Islands has a different body of securities laws as compared to the United
States, and certain states, such as Delaware, may have more fully developed and judicially interpreted bodies of corporate law. In addition,
Cayman Islands companies may not have standing to initiate a shareholders derivative action in a Federal court of the United States.
For a more detailed discussion of the principal differences between the provisions of the Companies Act applicable to HVII and, for example,
the laws applicable to companies incorporated in the United States and their shareholders, see the section of HVII’s final prospectus
on filed in connection with its initial public offering entitled “ Description of Securities - Certain Differences in Corporate
Law.”

  69  

Shareholders
of Cayman Islands exempted companies like HVII have no general rights under Cayman Islands law to inspect corporate records or to obtain
copies of the register of members of these companies. HVII’s directors have discretion under HVII’s amended and restated
memorandum and articles of association to determine whether or not, and under what conditions, HVII’s corporate records may be
inspected by HVII’s shareholders, but are not obliged to make them available to HVII’s shareholders. This may make it more
difficult for shareholders to obtain the information needed to establish any facts necessary for a shareholder motion or to solicit proxies
from other shareholders in connection with a proxy contest.

HVII
has been advised by Appleby (Cayman) Ltd., HVII’s Cayman Islands legal counsel, that the courts of the Cayman Islands are unlikely
(i) to recognize or enforce against HVII judgments of courts of the United States predicated upon the civil liability provisions of the
federal securities laws of the United States or any state; and (ii) in original actions brought in the Cayman Islands, to impose liabilities
against HVII predicated upon the civil liability provisions of the federal securities laws of the United States or any state, so far
as the liabilities imposed by those provisions are penal