Company: NHICW
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001213900-25-042195
Chunk: 17

Company: NewHold Investment Corp. III
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 1
Chunk 17
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 The Company adopted ASU 2020-06 as of August 13,
2024 (inception). There was no effect to the Company’s presented condensed financial statements.

Management does not believe that any other recently issued, but not
yet effective, accounting pronouncements, if currently adopted, would have a material effect on the Company’s condensed financial
statements.

11

Note 3 — Public Offering

Pursuant to the Public Offering, the Company offered
for sale 20,125,000 Units (including the exercise of the underwriters’ over-allotment option in full) at a purchase price
of $10.00 per Unit. Each Unit consists of one Class A ordinary share, and one-half of one redeemable warrant. Each whole warrant
will entitle the holder to purchase one Class A ordinary share at a price of $11.50 per share, subject to adjustment. Each warrant
will become exercisable 30 days after the completion of the initial Business Combination and will expire five years after the
completion of the initial Business Combination, or earlier upon redemption or liquidation. The Company allocated approximately $1,509,000
of the Offering proceeds to the estimated fair value of the Public Warrants using a Binomial lattice model (a Level 3 valuation) using
the following assumptions:

    Share price 
    $9.945 
  
    Expected term (in years) 
     6 
  
    Volatility 
     4.0%
  
    Risk free rate 
     4.0%

The public warrants have been classified with shareholders’ deficit
and will not require remeasurement after issuance.

See Note 8 for further discussion of the warrants
included in the Units and the Private Placement Units.

Note 4 — Private Placement

The Sponsor and the underwriters in the Public
Offering have purchased an aggregate of 780,100 Private Placement Units consisting of one Class A ordinary share and one half warrant
in which each whole warrant is exercisable to purchase one Class A ordinary share at $11.50 per share, at a price of $10.00 per unit,
or $7,801,000, in a private placement that closed simultaneously with the closing of the Public Offering. Of those 780,100 Private Placement
Units, the Sponsor purchased 552,600 Private Placement Units and the underwriters in the Public Offering purchased 227,500 private placement
units. Each whole warrant entitles the registered