Company: NHICW
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001213900-25-042195
Chunk: 35

Company: NewHold Investment Corp. III
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 1
Chunk 35
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 office space, utilities and secretarial and administrative support; insurance and consulting
costs associated with administrating our affairs prior to our public offering.

Other income – Other income earned during the three months ended March 31, 2025 totaled
approximately $660,000, including approximately $657,000 earned in the Trust which is generally not available to us for operations.

Liquidity and Capital Resources

Our liquidity needs prior to the completion of the Initial Public Offering
were satisfied through (i) $25,000 paid by the sponsor to cover certain of our offering and formation costs in exchange for the issuance
of the founder shares to our sponsor and (ii) loans from our sponsor aggregating approximately $242,000, all of which was repaid upon
closing of the Initial Public Offering.

On March 3, 2025, we consummated the Initial Public Offering of 20,125,000
Units, which includes the full 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 March 31, 2025, we had cash held in trust account of $202,913,000
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