Company: HVIIR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001741
Chunk: 16

Company: Hennessy Capital Investment Corp. VII
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 16
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 approval, as
applicable.

HVII’s
Business Combination Process

In
evaluating prospective business combinations, HVII expects to conduct a thorough due diligence review process that encompasses, among
other things, a review of historical and projected financial and operating data, meetings with management and their advisors (if applicable),
on-site inspection of facilities and assets, discussion with customers and suppliers, legal reviews and other reviews as deemed appropriate.
HVII’s management and directors utilize their expertise in analyzing companies in industrial technology sectors in evaluating operating
projections, financial projections and determining the appropriate return expectations given the risk profile of the target business.

   9  

HVII
is not prohibited from pursuing an initial business combination with a company that is affiliated with HVII’s sponsor, officers
or directors. In the event HVII seeks to complete its initial business combination with a company that is affiliated with its sponsor,
officers or directors, HVII or a committee of independent directors, will obtain an opinion from an independent investment banking firm
that is a member of FINRA or an independent accounting firm that the initial business combination is fair to HVII from a financial point
of view.

HVII’s
officers and directors currently own, either directly or indirectly, founder shares and private placement units. Because of this ownership,
HVII’s officers and directors may have a conflict of interest in determining whether a particular target business is an appropriate
business with which to effectuate the initial business combination. Further, each of HVII’s officers and directors may have a conflict
of interest with respect to evaluating a particular business combination if the retention or resignation of any such officers and directors
were to be included by a target business as a condition to any agreement with respect to the initial business combination.

Each
of HVII’s officers and directors presently has, and any of them in the future may have additional, fiduciary, contractual or other
obligations or duties to one or more other entities, including Hennessy VI, pursuant to which such officer or director is or will be
required to present a business combination opportunity. Accordingly, if any of HVII’s officers or directors becomes aware of a
business combination opportunity which is suitable for one or more entities to which he or she has fiduciary, contractual or other obligations
or duties, he or she may honor these obligations and duties to present such business combination opportunity to such entities first,
and only present it to HVII if such entities reject the opportunity and he or she determines to present the