Company: NHICW
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076495
Chunk: 12

Company: NewHold Investment Corp. III
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 12
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obligations and may at any time be held as cash or cash items, including in demand deposit accounts at a bank. Funds will remain in the
trust account until the earlier of (i) the consummation of the initial business combination or (ii) the distribution of the
trust account proceeds as described below. The remaining proceeds outside the trust account may be used to pay for business, legal and
accounting due diligence on prospective acquisitions and continuing general and administrative expenses. 

8

The Company’s amended and restated memorandum
and articles of association provides that, other than the permitted withdrawals, if any, none of the funds held in the trust account will
be released until the earlier of (i) the completion of the initial business combination; (ii) the redemption of any Class A
ordinary shares, $0.0001 par value, of the Company (the “Public Shares”), that have been properly submitted in connection
with a shareholder vote to approve an amendment to the Company’s amended and restated memorandum and articles of association (A) in
a manner that would modify the substance or timing of its obligation to redeem the Public Shares in connection with the initial business
combination or to redeem 100% of the Public Shares if the Company does not complete an initial business combination within 24 months
from the closing of the Offering or (B) with respect to any other provision relating to the rights of holders of the Public Shares
or pre-initial business combination activity; and (iii) the redemption of 100% of the Public Shares if the Company is unable to complete
an initial business combination within 24 months from the closing of the Offering (subject to the requirements of law). The proceeds
deposited in the trust account could become subject to the claims of the Company’s creditors, if any, which could have priority
over the claims of the Company’s public shareholders.

Concentration of Credit Risk

Financial instruments that potentially subject
the Company to concentrations of credit risk consist of cash accounts in a financial institution, which at times, may exceed the Federal
Deposit Insurance Corporation coverage of $250,000. Any loss incurred or lack of access to such funds could have a significant adverse
impact on the Company’s financial condition, results of operations and cash flows.

Fair Value of Financial Instruments

The fair value of the Company’s assets and
liabilities, which qualify as financial instruments under FASB ASC 820, “Fair