Company: NHICW
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-110027
Chunk: 38

Company: NewHold Investment Corp. III
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 38
---
 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.

22

As of September 30, 2025,
we had cash held in Trust Account of $207,212,000 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, as consideration to complete our initial business combination, the remaining
proceeds held in the Trust Account will be used as working capital to finance the operations of the target business or businesses, make
other acquisitions and pursue our growth strategies. 

As of September 30, 2025,
the Company had approximately $1,389,000 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 September 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