Company: NHICW
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001213900-25-042195
Chunk: 34

Company: NewHold Investment Corp. III
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 1
Chunk 34
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arrant”)
of the Company, with each whole Warrant entitling the holder thereof to purchase one Class A ordinary share for $11.50 per share.

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 a trust account with
Continental Stock Transfer & Trust Company established for the benefit of the Company’s public shareholders and the underwriter
of the Initial Public Offering. Except for the withdrawal of interest earned on the amounts in the trust account to fund the Company’s
taxes, or upon the redemption by public shareholders of Class A ordinary shares in connection with certain amendments to the Company’s
amended and restated memorandum and articles of association, none of the funds held in the trust account will be released until the completion
of the Company’s initial business combination or the redemption by the Company of 100% of the outstanding Class A ordinary shares
issued by the Initial Public Offering if the Company does not consummate an initial business combination within 24 months after the closing
of the Initial Public Offering.

As indicated in the accompanying financial statements, at March 31,
2025, we held cash of $1,762,000, current liabilities of $186,000, and deferred underwriting fees payable of $7,044,000. Further, we expect
to incur significant costs in the pursuit of our initial business combination. We cannot assure you that our plans to raise capital or
to complete our initial business combination will be successful.

Results of Operations and Known Trends or Future Events

We have neither engaged in any operations nor generated any revenues
to date. Our only activities since inception have been organizational activities and those necessary to prepare for our public offering.
Following the offering, we will not generate any operating revenues until after completion of our initial business combination. We will
generate non-operating income in the form of interest income on cash and cash equivalents after the Initial Public Offering. We incur
expenses as a result of being a public company (for legal, financial reporting, accounting and auditing compliance), as well as for due
diligence expenses. 

20

General
and administrative costs and loss from operations – For the three months ended March 31, 2025, we incurred general and administrative
costs of approximately $267,000 consisting primarily of costs associated with our public reporting and listing, approximately $40,000
of costs charged by our Sponsor for