Company: NHICW
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-110027
Chunk: 104

Company: NewHold Investment Corp. III
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 2
Chunk 104
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combination.

Other income –
Other income earned during the three and nine months ended September 30, 2025 totaled approximately $2,172,000 and $4,989,000, respectively,
primarily resulting from interest earned on the assets in the Trust Account.

Liquidity and Capital Resources

Our liquidity needs prior
to the completion of the Initial Public Offering were satisfied through (i) $25,000 paid by the sponsor to cover certain of our offering
and formation costs in exchange for the issuance of the founder shares to our sponsor and (ii) loans from our sponsor aggregating approximately
$242,000, all of which was repaid upon closing of the Initial Public Offering.

On March 3, 2025, we consummated
the Initial Public Offering of 20,125,000 Units, which includes the full exercise by the underwriters of their over-allotment option in
the amount of 2,625,000 Units, at $10.00 per Unit, generating gross proceeds of $201,250,000. Simultaneously with the closing of the Initial
Public Offering, we consummated the sale of 780,100 Private Placement Units, at a price of $10.00 per Private Placement Unit, in a private
placement to the Sponsor, generating gross proceeds of $7,801,000. The net proceeds from the Initial Public Offering, together with certain
of the proceeds from the sale of the Private Placement Units, totaling $202,256,000 in the aggregate, were placed in the Trust Account.

22

As of September 30, 2025,
we had cash held in Trust Account of $207,212,000 to be invested only in U.S. government treasury obligations with a maturity of 185 days
or less or in money market funds meeting certain conditions under Rule 2a-7 under the Investment Company Act which invest only in direct
U.S. government treasury obligations and/or held as cash or cash items (including in demand deposit accounts). We may withdraw interest
to pay our taxes, if any. Our annual income tax obligations will depend on the amount of interest and other income earned on the amounts
held in the Trust Account. We expect the interest earned on the amount in the Trust Account will be sufficient to pay our taxes. To the
extent that our equity or debt is used, in whole or in part, as consideration to complete our initial business combination, the remaining
proceeds held in the Trust Account