Company: HVIIR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001741
Chunk: 101

Company: Hennessy Capital Investment Corp. VII
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 101
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and complete an initial business combination and thereafter to operate the post-transaction business or assets for the long term. HVII
does not plan to buy businesses or assets with a view to resale or profit from their resale. HVII does not plan to buy unrelated businesses
or assets or to be a passive investor.

The
SEC recently provided guidance that the determination of whether a SPAC, like HVII, is an “investment company” under the
Investment Company Act is a facts and circumstances determination requiring individualized analysis and depends on a variety of factors,
including a special purpose acquisition company’s duration, asset composition, business purpose and activities, and “is a
question of facts and circumstances” requiring individualized analysis. When applying these factors to HVII, it does not believe
that its principal activities will subject it to the Investment Company Act. To this end, HVII was formed for the purpose of completing
an initial business combination with one or more businesses. Since its inception, its business has been and will continue to be focused
on identifying and completing an initial business combination, and thereafter, operating the post-transaction business or assets for
the long term. Further, HVII does not plan to buy businesses or assets with a view to resale or profit from their resale and it does
not plan to buy unrelated businesses or assets or to be a passive investor. In addition, the proceeds held in the trust account may only
be invested in United States “government securities” within the meaning of Section 2(a)(16) of the Investment Company Act
having a maturity of 185 days or less or in money market funds meeting certain conditions under Rule 2a-7 promulgated under the Investment
Company Act which invest only in direct U. S. government treasury obligations. Pursuant to the trust agreement, the trustee is not permitted
to invest in other securities or assets. By restricting the investment of the proceeds to these instruments, and by having a business
plan targeted at acquiring and growing businesses for the long term (rather than on buying and selling businesses in the manner of a
merchant bank or private equity fund), HVII intends to avoid being deemed an “investment company” within the meaning of the
Investment Company Act. Investing in HVII’s securities is not intended for persons who are seeking a return on investments in government
securities or investment securities. The trust account is intended as a holding place for funds pending the earliest to occur of: (i)
the completion of HVII’s initial