Company: HVIIR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001741
Chunk: 104

Company: Hennessy Capital Investment Corp. VII
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 104
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 securities held in the trust account and thereafter to
hold all funds in the trust account in cash or an interest-bearing account would reduce the dollar amount HVII’s public shareholders
would receive upon any redemption or liquidation of the Company.

In
addition, even prior to the 24-month anniversary of the closing date of HVII’s initial public offering, HVII may be deemed to be
an investment company. The longer that the funds in the trust account are held in short-term U. S. government treasury obligations or
in money market funds invested exclusively in such securities, even prior to the 24-month anniversary, the greater the risk that HVII
may be considered an unregistered investment company, in which case HVII may be required to liquidate the Company. Accordingly, HVII
may determine, in its discretion, to liquidate the securities held in the trust account at any time, even prior to the 24-month anniversary,
and instead hold all funds in the trust account in cash or an interest-bearing account, which would further reduce the dollar amount
HVII’s public shareholders would receive upon any redemption or liquidation of the Company.

  59  

If
HVII seeks shareholder approval of its initial business combination and it does not conduct redemptions pursuant to the tender offer
rules, and if a shareholder or a “group” of shareholders are deemed to hold in excess of 15% of HVII’s Class A ordinary
shares, the shareholder will lose the ability to redeem all such shares in excess of 15% of HVII’s Class A ordinary shares.

If
HVII seeks shareholder approval of its initial business combination and it does not conduct redemptions in connection with its initial
business combination pursuant to the tender offer rules, its amended and restated memorandum and articles of association provide that
a public shareholder, together with any affiliate of such shareholder or any other person with whom such shareholder is acting in concert
or as a “group” (as defined under Section 13 of the Exchange Act), is restricted from seeking redemption rights with respect
to more than an aggregate of 15% of the shares sold in HVII’s initial public offering without HVII’s prior consent, which
are referred to as the “ Excess Shares.” However, HVII would not be restricting its shareholders’ ability to vote all
of their shares (including Excess Shares) for or against its initial business combination. The inability to redeem the Excess Shares
will reduce the shareholder’s influence over HVII