Company: NHICW
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076495
Chunk: 101

Company: NewHold Investment Corp. III
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 2
Chunk 101
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 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 plans. In connection with the Company’s assessment of going concern considerations in accordance
with Accounting Standards Update (“ASU”) 2014-15, “Disclosures of Uncertainties about an Entity’s Ability to Continue
as a Going Concern,” as of June 30, 2025, the Company believes that it has sufficient funds for the working capital needs of the
Company until a minimum of one year from the date of issuance of these condensed financial statements. The Company cannot ensure that
its plans to consummate an initial Business Combination, or to raise additional capital, if necessary, will be successful.

We do not believe we will
need to raise additional funds following this offering in order to meet the expenditures required for operating our business prior to
our initial business combination. However, if our estimates of the costs of identifying a target business, undertaking in-depth due diligence
and negotiating an initial business combination are less than the actual amount necessary to do so, we may have insufficient funds available
to operate our business prior to our initial business combination. In order to fund working capital deficiencies or finance transaction
costs in connection with an intended initial business combination, our sponsor or an affiliate of our sponsor or certain of our officers
and directors may, but are not obligated to, loan us funds as may be required. If we complete our initial business combination, we would
repay such loaned amounts. In the event that our initial business combination does not close, we may use amounts held outside the trust
account to repay such loaned amounts but no proceeds from our trust account would be used for such repayment. Up to $1,500,000 of such
loans may be convertible into private units