Company: HVIIR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001741
Chunk: 32

Company: Hennessy Capital Investment Corp. VII
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 32
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 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 (“ Excess Shares”),
without its prior consent. HVII believes this restriction will discourage shareholders from accumulating large blocks of shares, and
subsequent attempts by such holders to use their ability to exercise their redemption rights against a proposed business combination
as a means to force HVII or its affiliates to purchase their shares at a significant premium to then-current market price or on other
undesirable terms. Absent this provision, a public shareholder holding more than an aggregate of 15% of the shares sold in its initial
public offering could threaten to exercise its redemption rights if such holder’s shares are not purchased by HVII or its affiliates
at a premium to then-current market price or on other undesirable terms. By limiting its shareholders’ ability to redeem no more
than 15% of the shares sold in its initial public offering, HVII believes it will limit the ability of a small group of shareholders
to unreasonably attempt to block its ability to complete its initial business combination, particularly in connection with a business
combination with a target that requires as a closing condition that HVII have a minimum net worth or a certain amount of cash. 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.

Tendering
Share Certificates in Connection with a Tender Offer or Redemption Rights

HVII
may require its public shareholders seeking to exercise their redemption rights, whether they are record holders or hold their shares
in “street name,” to either tender their certificates to its transfer agent prior to the date set forth in the tender offer
documents or proxy materials mailed to such holders, or up to two business days prior to the vote on the proposal to approve the business
combination in the event HVII distributes proxy materials or to deliver their shares to the transfer agent electronically using The Depository
Trust Company’s DWAC (Deposit/Withdrawal At Custodian) System, rather than simply voting against the initial business combination
at the holder’s option. The tender offer or proxy materials, as applicable, that HVII will furnish to holders of its public shares
in connection with its