Company: HVIIR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001741
Chunk: 60

Company: Hennessy Capital Investment Corp. VII
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 60
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 consummated its initial business combination within the completion window or (B) with
respect to any other provision relating to shareholders’ rights or pre-initial business combination activity and (iii) the redemption
of HVII’s public shares if it is unable to complete an initial business combination within the completion window, subject to applicable
law and as further described herein. In no other circumstances will a public shareholder have any right or interest of any kind in the
trust account. Holders of share rights will not have any right to the proceeds held in the trust account. There are no redemption rights
with respect to the share rights. Accordingly, to liquidate their investment, they may be forced to sell their public shares or share
rights, potentially at a loss.

Investors
will not be entitled to protections normally afforded to investors of many other SPACs.

Since
the net proceeds of HVII’s initial public offering and the sale of the private placement units are intended to be used to complete
an initial business combination with a target business that has not been identified, HVII may be deemed to be a “blank check”
company under the United States securities laws. However, because HVII has net tangible assets in excess of $5,000,000 and has filed
a Current Report on Form 8-K, including an audited balance sheet demonstrating this fact, HVII is exempt from rules promulgated by the
SEC to protect investors in SPACs, such as Rule 419. Accordingly, investors will not be afforded the benefits or protections of those
rules. Among other things, this means HVII will have a longer period of time to complete its business combination than do companies subject
to Rule 419. Moreover, if HVII’s initial public offering were subject to Rule 419, that rule would prohibit the release of any
interest earned on funds held in the trust account to HVII unless and until the funds in the trust account were released to HVII in connection
with its completion of an initial business combination. For a more detailed comparison of HVII’s offering to offerings that comply
with Rule 419, please see the section of this Report entitled “ Business - Overview.

  35  

Because
of HVII’s limited resources and the significant competition for business combination opportunities, it may be more difficult for
HVII to complete its initial business combination. If HVII is unable to complete its initial business combination, HVII’s public
shareholders may receive only approximately $10.00 per share on