Recent developments include the company's completion of its initial public offering in March 2025 and prior institutional investor interest in its predecessor entity.

• NewHold Investment Corp III completed its initial public offering of 20.1 million units on Nasdaq on March 3, 2025, raising gross proceeds of approximately $201 million [N1].
• NewHold Investment Corp. II attracted institutional investors holding a sizeable 36% stake as of September 2022 [N2].

The company has a seasoned management team with a track record of successful SPAC transactions and access to a broad proprietary network for sourcing acquisition targets. Its focus on high-growth industrial technology sectors aligned with Industry 4.0 themes positions it to identify businesses with strong competitive advantages and growth potential. The substantial IPO proceeds held in trust provide financial flexibility to pursue meaningful business combinations. The company's criteria emphasize acquiring businesses with stable revenue, consistent financial performance, and potential for operating leverage and free cash flow, which could support long-term value creation post-combination.

As a blank check company, NewHold Investment Corp. III currently has no operating business and depends entirely on completing a suitable initial business combination. The absence of a disclosed target limits visibility into future operations and financial performance. Risks include potential difficulties in identifying or completing a business combination, exposure to changes in international trade policies and tariffs that could affect target attractiveness or post-combination performance, and cybersecurity risks due to reliance on third-party digital infrastructure. Costs incurred in unsuccessful business combination pursuits reduce available funds. The company also faces governance risks as a controlled company with certain exemptions.

The company's moat is primarily derived from its experienced management team with over 60 years of combined private equity and SPAC experience, including successful prior business combinations. It benefits from a proprietary network of family offices and high net worth investors, enabling access to proprietary deal flow outside traditional sale processes. The focus on industrial technology sectors aligned with Industry 4.0 themes targets businesses with defensible competitive positions, proprietary technology, and potential for above-market growth. However, as a blank check company without an operating business, its moat depends on successful identification and execution of a suitable business combination.

• Dependence on Completing Initial Business Combination: The company currently has no operations and its future success depends entirely on identifying and completing a suitable initial business combination. Failure to do so could adversely affect its financial condition.
• Trade Policy and Tariff Risks: Changes in international trade policies, tariffs, and treaties could negatively impact the attractiveness of potential business combination targets or the performance of a post-combination company.
• Cybersecurity Risks: The company relies on third-party digital technologies and infrastructure, exposing it to cybersecurity threats that could lead to financial loss or operational disruption.
• Limited Operating History and Business Diversification: As a blank check company, the company lacks operating history and business diversification, which may increase investment risk until a business combination is completed.
• Costs of Unsuccessful Business Combination Efforts: Costs incurred in evaluating and negotiating business combinations that are not completed reduce funds available for other combinations and may result in losses.

• NewHold Investment Corp. III is a blank check company incorporated as a Cayman Islands exempted company formed to effect a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses (initial Business Combination) [S1].
• The company completed its IPO on March 3, 2025, issuing 20,125,000 units at $10.00 per unit, raising gross proceeds of approximately $201.1 million, including an over-allotment option exercised in full [S1][N1].
• Each unit consists of one Class A ordinary share and one-half of one redeemable warrant exercisable at $11.50 per share [S1].
• Simultaneously with the IPO, the company completed a private placement of 780,100 units to the Sponsor and BTIG, LLC at $10.00 per unit [S1].
• Proceeds from the IPO and private placement, totaling approximately $201.1 million, were placed in a trust account invested in U.S. government treasury obligations or money market funds, with approximately $209.2 million in the trust account as of December 31, 2025 [S1].
• On April 17, 2025, the units began trading separately as Class A ordinary shares (ticker NHIC) and warrants (ticker NHICW) on Nasdaq [S1].
• The company focuses on sourcing business combination opportunities primarily in industrial technology businesses aligned with Industry 4.0 themes such as transportation and logistics, distribution and supply chain, value-added manufacturing and robotics, grid resiliency, environmental services, business services, and advanced sensor technologies [S1].
• The management team targets companies with strong competitive positions, stable revenue, consistent financial performance, proprietary products or intellectual property, and potential for above-market growth [S1].
• The company is not restricted to industrial technology businesses and may pursue business combinations outside that industry [S1].
• Key factors driving opportunity in target businesses include new product introductions, potential acquisitions, flexible mass production, supply chain optimization, efficiency and productivity gains, design and manufacturing optimization, and energy efficiency [S1].
• The company has general criteria for target businesses including attractive competitive positions, high or potential revenue growth, operation in industries ripe for technological disruption, ability to deliver operating leverage and free cash flow, knowledgeable management teams, and benefits from being a public company [S1].
• The management team has over 60 years of combined private equity experience and prior successful SPAC experience, including involvement in four prior SPACs [S1].
• The company has sourced 325 potential opportunities since 2017, mostly outside traditional sale processes, funded through a proprietary network of family offices and high net worth individuals [S1].
• The company had cash and cash equivalents of $1.198 million and current assets of $1.334 million against current liabilities of $1.251 million as of December 31, 2025, resulting in a current ratio of 1.07 and a cash ratio of 0.96 [S1].
• The company reported net income of $4.918 million for the fiscal year ended December 31, 2025 [S1].
• The company currently has no operations and no full-time employees; it relies on officers who devote time as necessary until a business combination is completed [S1].
• The company may face risks related to tariffs and changes in international trade policies that could affect the attractiveness of potential business combination targets or the performance of a post-combination company [S2].
• The company depends on third-party digital technologies and infrastructure, exposing it to cybersecurity risks despite having processes to manage such risks [S2].
• The company must complete a business combination with an aggregate fair market value of at least 80% of the trust account assets, excluding certain deductions, as required by Nasdaq rules [S1].
• Costs incurred in evaluating and negotiating business combinations that are not completed will reduce funds available for other combinations [S1].
• The company may seek to raise additional funds through private offerings in connection with its initial business combination [S1].
• The company is considered a smaller reporting company and a controlled company under Nasdaq rules, with certain governance exemptions [S1].
• The company reimburses its sponsor for office space and administrative support until completion of the initial business combination or liquidation [S1].
• The company is not currently engaged in operations and intends to use IPO proceeds and private placement proceeds for the initial business combination and related expenses [S1].
• The company has no material legal proceedings currently [S1].