Company: HVIIR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001741
Chunk: 12

Company: Hennessy Capital Investment Corp. VII
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 12
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 7  

Initial
Business Combination

HVII
has up to 24 months from the closing of its initial public offering to consummate an initial business combination. HVII may hold a shareholder
vote at any time to amend its amended and restated memorandum and articles of association to modify the amount of time it will have to
consummate an initial business combination (as well as to modify the substance or timing of its obligation to redeem 100% of its public
shares if it has not consummated an initial business combination within completion window or with respect to any other provisions relating
to shareholders’ rights or pre-initial business combination activity), in which case its public shareholders will be offered an
opportunity to redeem their public shares. HVII’s sponsor, executive officers and directors have agreed that they will not propose
any such amendment unless HVII provides its public shareholders with the opportunity to redeem their public shares upon approval of any
such amendment at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account, including interest
earned on the funds held in the trust account (net of permitted withdrawals), divided by the number of then outstanding public shares,
subject to the limitations described herein.

If
HVII does not complete its initial business combination within the completion window, while it does not currently intend to seek shareholder
approval to amend its amended and restated memorandum and articles of association to extend the amount of time it will have to consummate
an initial business combination, it may elect to do so in the future. There is no limit on the number of extensions that HVII may seek.
If HVII determines not to extend, or fails to obtain shareholder approval to extend, the time period to consummate its initial business
combination, and the time to consummate its initial business combination expires, HVII’s sponsor’s investment in its founder
shares and its private placement units will be worthless.

If
HVII does not complete its initial business combination within the completion window and does not hold a shareholder vote to amend its
amended and restated memorandum and articles of association to extend the amount of time it has to consummate an initial business combination,
HVII will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten
business days thereafter, redeem the public shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit
in the trust account, including interest earned on