Company: NHICW
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076495
Chunk: 36

Company: NewHold Investment Corp. III
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 36
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 exercise by the underwriters of their over-allotment option in
the amount of 2,625,000 Units, at $10.00 per Unit, generating gross proceeds of $201,250,000. Simultaneously with the closing of the Initial
Public Offering, we consummated the sale of 780,100 Private Placement Units, at a price of $10.00 per Private Placement Unit, in a private
placement to the Sponsor, generating gross proceeds of $7,801,000. 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 the trust account.

As of June 30, 2025, we had
cash held in trust account of $205,054,000 to be invested only in U.S. government treasury obligations with a maturity of 185 days or
less or in money market funds meeting certain conditions under Rule 2a-7 under the Investment Company Act which invest only in direct
U.S. government treasury obligations and/or held as cash or cash items (including in demand deposit accounts). We may withdraw interest
to pay our taxes, if any. Our annual income tax obligations will depend on the amount of interest and other income earned on the amounts
held in the trust account. We expect the interest earned on the amount in the trust account will be sufficient to pay our taxes. To the
extent that our equity or debt is used, in whole or in part, as consideration to complete our initial business combination, the remaining
proceeds held in the trust account will be used as working capital to finance the operations of the target business or businesses, make
other acquisitions and pursue our growth strategies.

21

Prior to the completion of
our initial business combination, we will have available to us the approximately $1,762,000 of proceeds held outside the trust account.
We will use these funds to primarily identify and evaluate target businesses, perform business due diligence on prospective target businesses,
travel to and from the offices, plants or similar locations of prospective target businesses or their representatives or owners, review
corporate documents and material agreements of prospective target businesses, and structure, negotiate and complete a business combination.

As of June 30, 2025, the Company
had approximately $1,567,000 in cash. Further, the Company has incurred and expects to continue to incur significant costs in pursuit
of its financing and acquisition