Company: HVIIR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001741
Chunk: 38

Company: Hennessy Capital Investment Corp. VII
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 38
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 against the trust account, the funds available for redemptions could be reduced to less than $10.00 per public
share and the funds available for HVII’s initial business combination could be reduced as well. In such event, HVII may not be
able to complete its initial business combination, and investors would receive such lesser amount per share in connection with any redemption
of their public shares. None of HVII’s officers will indemnify HVII for claims by third parties including, without limitation,
claims by vendors and prospective target businesses.

  21  

In
the event that the proceeds in the trust account are reduced below: (1) $10.00 per public share; or (1) the actual amount per public
share held in the trust account as of the date of the liquidation of the trust account, if less than $10.00 per share due to reductions
in the value of the trust assets, in each case net of permitted withdrawals, and HVII’s sponsor asserts that it is unable to satisfy
its indemnification obligations or that it has no indemnification obligations related to a particular claim, HVII’s independent
directors would determine whether to take legal action against HVII’s sponsor to enforce its indemnification obligations. While
HVII currently expects that its independent directors would take legal action on HVII’s behalf against its sponsor to enforce its
indemnification obligations to HVII, it is possible that HVII’s independent directors in exercising their business judgment may
choose not to do so in certain instances. For example, the cost of such legal action may be deemed by the independent directors to be
too high relative to the amount recoverable or the independent directors may determine that a favorable outcome is not likely. Accordingly,
there is no assurance that due to claims of creditors the actual value of the per share redemption price will not be substantially less
than $10.00 per public share. Please see the section of this Report entitled “ Risk Factors - If third parties bring claims
against HVII, the proceeds held in the trust account could be reduced and the per-share redemption amount received by shareholders may
be less than $10.00 per share.

HVII
will seek to reduce the possibility that its sponsor will have to indemnify the trust account due to claims of creditors by endeavoring
to have all vendors, service providers (other than HVII’s independent registered public accounting firm), prospective target businesses
or other entities with which HVII does business execute agreements with HVII wa