Company: NHICW
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-110027
Chunk: 33

Company: NewHold Investment Corp. III
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 33
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 for Class A ordinary shares, in determining
the price payable for Class A ordinary shares, there will be taken into account any consideration received for such rights, as well
as any additional amount payable upon exercise or conversion and (ii) fair market value means the volume weighted average price of
Class A ordinary shares as reported during the ten (10) trading day period ending on the trading day prior to the first
date on which the Class A ordinary shares trade on the applicable exchange or in the applicable market, regular way, without the
right to receive such rights. 

19

Note 9 — Segment Reporting

In November 2023, the FASB issued ASU 2023-07,
“Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosure,” which introduced new annual and interim disclosure
requirements for all public companies.

As a Special Purpose Acquisition Company (“SPAC”),
the Company has not commenced any operations and its activities consist of seeking to identify a suitable business combination candidate
and to perform the diligence, contractual, reporting and other obligations associated with completing a business combination transaction.

For purposes of ASU 2023-07, the Company is considered
to operate in one segment, seeking to identify and close a business combination. As such, expenses consist of the costs of identifying
a business combination candidate and the diligence, contractual, reporting and other obligations associated with completing such business
combination as well as expenses for ongoing professional and other costs to maintain reporting, listing, compliance and administrative
requirements of being a publicly traded company. In addition to such expenses, the Company has over $207,000,000 of investments in Trust
and such investments generate interest or dividend income.

The new information required by ASU 2023-07 includes:

    - Significant segment expenses: The Company’s operating expenses for the three and nine months ended September 30, 2025 were approximately $261,000 and $797,000, respectively. 

    - Other segment items: Other income for the three and nine months ended September 30, 2025 of approximately $2,172,000 and $4,989,000, respectively, consists primarily of interest income on the Trust Account. 

    - Identification of the chief operating decision maker (“CODM”): The chief operating decisions makers are the Chief Executive and Chief Financial Officers of the Company. 

Explanation of how the CODM uses the disclose
measure of segment profit or