Company: NHICW
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001213900-25-042195
Chunk: 54

Company: NewHold Investment Corp. III
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 2
Chunk 54
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 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.

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 of the post business combination entity at a price of $10.00 per unit at the option of the applicable lender. Such units
would be identical to the private units. The terms of such loans, if any, have not been determined and no written agreements exist with
respect to such loans. Prior to the completion of our initial business combination, we do not expect to seek loans from parties other
than our sponsor or an affiliate of our sponsor as we do not believe third parties will be willing to loan such funds and provide a waiver
against any and all rights to seek access to funds in our trust account.

Moreover, we may need to obtain additional financing
to complete our initial business combination, either because the transaction requires more cash than is available from the proceeds held
in our trust account or because we become obligated to redeem a significant number of our public shares upon completion of the business
combination, in which case we may issue additional securities or incur debt in connection with such business combination. If we raise
additional funds through equity or convertible debt issuances, our public shareholders may suffer significant dilution and