Company: NHICW
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-110027
Chunk: 21

Company: NewHold Investment Corp. III
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 21
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A) to modify the substance or timing of the Company’s
obligation to allow redemption in connection with the initial Business Combination or to redeem 100% of the public shares if the Company
has not consummated an initial Business Combination within the Completion Window or (B) with respect to any other material provisions
relating to shareholders’ rights or pre-initial Business Combination activity; (iii) waive their rights to liquidating distributions
from the Trust Account with respect to their founder shares and private shares if the Company fails to complete the initial Business Combination
within the Completion Window, although they will be entitled to liquidating distributions from the Trust Account with respect to any public
shares they hold if the Company fails to complete the initial Business Combination within the Completion Window and to liquidating distributions
from assets outside the Trust Account; and (iv) vote any founder shares held by them and any public shares purchased during or after
the Public Offering (including in open market and privately-negotiated transactions) in favor of the initial Business Combination. 

13

Note 5 — Related Party Transactions

Founder Shares

In September 2024, the Company issued an
aggregate of 5,031,250 Class B ordinary shares, $0.0001 par value (the “Founder Shares”), in exchange for a $25,000 payment
(approximately $0.005 per share) from the Sponsor to cover certain expenses on behalf of the Company. Up to 656,250 of the Founder Shares
may have been surrendered by the Sponsor for no consideration depending on the extent to which the underwriters’ over-allotment
is exercised.

In October 2024, the Company executed a share
recapitalization in which an additional 1,676,413 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