Company: HVIIR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001741
Chunk: 48

Company: Hennessy Capital Investment Corp. VII
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 48
---
 conditioned on the completion of an initial business
combination. The underwriters’ or their respective affiliates’ financial interests tied to the consummation of a business
combination transaction may give rise to potential conflicts of interest in providing any such additional services to HVII, including
potential conflicts of interest in connection with the sourcing and consummation of an initial business combination. The underwriters
are under no obligation to provide any further services to HVII in order to receive all or any part of the deferred underwriting commissions.

  28  

If
HVII seeks shareholder approval of its initial business combination, HVII’s initial shareholders have agreed to vote in favor of
such initial business combination, regardless of how HVII’s public shareholders vote.

HVII’s
amended and restated memorandum and articles of association provide that, if HVII seeks shareholder approval, HVII will complete its
initial business combination only if HVII receives approval pursuant to an ordinary resolution under HVII’s amended and restated
memorandum and articles of association and under Cayman Islands law, which requires the affirmative vote of a simple majority of the
shareholders who attend and vote at a general meeting of the company, voting together as a single class and includes a unanimous written
resolution. Pursuant to the letter agreement, HVII’s initial shareholders, officers and directors have agreed to vote their founder
shares as well as any public shares purchased during or after HVII’s initial public offering (including in open market and privately
negotiated transactions), in favor of HVII’s initial business combination (except that any public shares such parties may purchase
in compliance with the requirements of Rule 14e-5 under the Exchange Act would not be voted in favor of approving the business combination
transaction). As a result, in addition to HVII’s initial shareholders’ founder shares and private placement shares held by
HVII’s sponsor, HVII would need only 7,495,834, or 39.5%, of the 19,000,000 public shares sold in its initial public offering to
be voted in favor of an initial business combination (assuming all outstanding shares are voted, and the parties to the letter agreement
do not acquire any Class A ordinary shares) in order to have HVII’s initial business combination approved. HVII’s initial
shareholders own shares representing approximately 24% of HVII’s outstanding ordinary shares (excluding the private placement shares).
Assuming that only the holders of one-third of HVII’s issued and outstanding