Company: HVIIR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001741
Chunk: 75

Company: Hennessy Capital Investment Corp. VII
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 75
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 association or governing instruments in a manner that will make it easier for HVII to complete its initial business combination that
its shareholders may not support.

In
order to effectuate an initial business combination, SPACs have, in the recent past, amended various provisions of their charters and
modified governing instruments. For example, SPACs have amended the definition of business combination, increased redemption thresholds
and extended the time to consummate an initial business combination. Amending HVII’s amended and restated memorandum and articles
of association requires at least a special resolution of its shareholders as a matter of Cayman Islands law, meaning the approval of
holders of at least two-thirds of HVII’s ordinary shares who attend and vote at a general meeting of the company, and amending
its share rights agreement requires a vote of holders of at least 50% of the public share rights and, solely with respect to any amendment
to the terms of the private placement units or any provision of the share rights agreement with respect to the private placement rights,
50% of the number of the then outstanding private placement units (including the consent of Cohen & Company). In addition, HVII’s
amended and restated memorandum and articles of association requires it to provide its public shareholders with the opportunity to redeem
their public shares for cash if HVII proposes an amendment to its amended and restated memorandum and articles of association (i) to
modify the substance or timing of its obligation to provide for the redemption of its public shares in connection with an initial business
combination or to redeem 100% of its public shares if HVII has not consummated its initial business combination within the completion
window or (ii) with respect to any other provision relating to shareholders’ rights or pre-initial business combination activity.
Many SPACs have faced delisting of their securities following redemptions of shares by public shareholders in connection with proposed
amendments to their corporate charters since, after redeeming a large number of publicly held shares, they no longer meet the continued
listing requirements of the stock exchange.

To
the extent any such amendments would be deemed to fundamentally change the nature of any securities offered through HVII’s registration
statement filed in connection with its initial public offering, HVII would register, or seek an exemption from registration for, the
affected securities. HVII cannot assure investors that it will not seek to amend its charter or governing instruments or extend the time
to consummate an initial business combination in order to effectuate its