Company: NHICW
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076495
Chunk: 6

Company: NewHold Investment Corp. III
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 6
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 overallotment option to purchase up to an additional 2,625,000 Units which was fully exercised.

Upon the closing of the Offering and private placement,
approximately $202,256,000 was placed in a trust account (the “Trust Account”).

Business Combination and Trust Account

The Business Combination must be with one or more
target businesses that together have a fair market value equal to at least 80% of the net balance in the Trust Account (as defined below)
(excluding the amount of deferred underwriting discounts held and taxes payable on the income earned on the Trust Account) at the time
of the signing an agreement to enter into a Business Combination. However, the Company will only complete a Business Combination if the
post-Business Combination company owns or acquires 50% or more of the outstanding voting securities of the target or otherwise acquires
a controlling interest in the target sufficient for it not to be required to register as an investment company under the Investment Company
Act of 1940, as amended (the “Investment Company Act”). There is no assurance that the Company will be able
to successfully effect a Business Combination.

5

Upon the closing of the Public Offering, an aggregate
of $10.05 per Unit sold in the Public Offering approximately $202,256,000 was deposited into a Trust Account (the “Trust Account”)
and may only be invested 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; the holding of these assets in this form is intended to be temporary and for the sole purpose of facilitating the intended
business combination. To mitigate the risk that it might be deemed to be an investment company for purposes of the Investment Company
Act, which risk increases the longer that the Company holds investments in the Trust Account, the Company may, at any time (based on management
team’s ongoing assessment of all factors related to the potential status under the Investment Company Act), instruct the trustee
to liquidate the investments held in the Trust Account and instead to hold the funds in the Trust Account in cash or in an interest bearing
demand deposit account at a bank. Except with respect to interest earned on the funds held in the Trust Account that may be released to
the Company to pay its taxes, if any, the proceeds from the Public Offering and the