Company: NHICW
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-110027
Chunk: 69

Company: NewHold Investment Corp. III
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 69
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413 fully paid Class B ordinary shares were issued to the Sponsor, and as a result
of which the Sponsor has purchased and holds an aggregate of 6,707,663 Class B ordinary shares. Following and as a result of that
capitalization and issuance of Founder Shares, the Sponsor is deemed to have purchased the Founder Shares for $0.004 per share. Up to
874,912 of the Founder Shares may be surrendered by the Sponsor for no consideration depending on the extent to which the underwriters’
over-allotment is exercised. Since the underwriters exercised their overallotment option in full, no Founder Shares have been or will
be surrendered by the Sponsor.

The Company’s initial shareholders have
agreed not to transfer, assign or sell any of their Founder Shares and any Class A ordinary shares issued upon conversion thereof
until the earlier to occur of (i) six months after the completion of the initial Business Combination or (ii) the date
on which the Company completes a liquidation, merger, share exchange or other similar transaction after the initial Business Combination
that results in all of the Company’s shareholders having the right to exchange their Class A ordinary shares for cash, securities
or other property. Any permitted transferees will be subject to the same restrictions and other agreements of the Company’s initial
shareholders with respect to any Founder Shares (the “Lock-up”). Notwithstanding the foregoing, if (1) the closing price
of the Class A ordinary shares equals or exceeds $12.00 per share (as adjusted for share subdivisions, share capitalizations, reorganizations,
recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 30 days after the initial
business combination or (2) if the Company consummates a transaction after the initial Business Combination which results in the
Company’s shareholders having the right to exchange their shares for cash, securities or other property, the Founder Shares will
be released from the Lock-up.

On February 19, 2025, the Sponsor transferred
an aggregate of 278,000 Founder Shares to members of the Company’s board of directors, resulting in the Sponsor holding 6,429,663
Founder Shares (see Note 8). The sale of the Founder Shares to the Company’s directors is in the scope of FASB ASC Topic 718, “Compensation-Stock
Compensation” (“ASC 718”). Under ASC