Company: NHICW
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001213900-25-042195
Chunk: 19

Company: NewHold Investment Corp. III
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 1
Chunk 19
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 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.

12

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 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