Company: HVIIR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001741
Chunk: 66

Company: Hennessy Capital Investment Corp. VII
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 66
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 nor has it independently verified whether
its sponsor has sufficient funds to satisfy its indemnity obligations and believes that its sponsor’s only assets are securities
of HVII. Therefore, HVII cannot assure investors that its sponsor would be able to satisfy those obligations. None of HVII’s officers
or directors will indemnify HVII for claims by third parties including, without limitation, claims by vendors and prospective target
businesses.

HVII’s
directors may decide not to enforce the indemnification obligations of its sponsor, resulting in a reduction in the amount of funds in
the trust account available for distribution to HVII’s public shareholders.

In
the event that the proceeds in the trust account are reduced below the lesser of (i) $10.00 per share and (ii) the actual amount per
share held in the trust account as of the date of the liquidation of the trust account if less than $10.00 per share due to reductions
in the value of the trust assets, in each case net of the interest that may be withdrawn to fund permitted withdrawals, and HVII’s
sponsor asserts that it is unable to satisfy its obligations or that it has no indemnification obligations related to a particular claim,
HVII’s independent directors would determine whether to take legal action against the sponsor to enforce its indemnification obligations.

While
it is currently expected that HVII’s independent directors would take legal action on behalf of HVII against the sponsor to enforce
its indemnification obligations, it is possible that the independent directors, in exercising their business judgment and subject to
their fiduciary duties, may choose not to do so in any particular instance if, for example, the cost of such legal action is deemed by
the independent directors to be too high relative to the amount recoverable or if the independent directors determine that a favorable
outcome is not likely. If the independent directors choose not to enforce these indemnification obligations, the amount of funds in the
trust account available for distribution to HVII’s public shareholders may be reduced below $10.00 per share.

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HVII
may not have sufficient funds to satisfy indemnification claims of its directors and executive officers.

HVII
has agreed to indemnify its officers and directors to the fullest extent permitted by law. However, HVII’s officers and directors
have agreed to waive any right, title, interest or claim of any kind in or to any monies in the trust account and to not seek recourse
against the trust account for any reason whatsoever.