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NewHold Investment Corp. III (NASDAQ:NHICU), a special purpose acquisition company with a current market capitalization of $240.93 million, has successfully closed its initial public offering (IPO) on Monday, generating $201.25 million in gross proceeds. The offering comprised 20,125,000 units at $10.00 each, including a fully exercised over-allotment option of 2,625,000 units. The stock currently trades at $10.03, maintaining stability near its IPO price.
Each unit sold consists of one Class A ordinary share and half of one redeemable warrant, with each whole warrant allowing the holder to purchase one Class A ordinary share at $11.50. Alongside the IPO, the company also placed 780,100 private placement units with its sponsor and BTIG, LLC, the underwriters’ representative, at the same $10.00 per unit price, adding an additional $7.81 million to the company’s funds. InvestingPro analysis reveals the company’s current ratio of 0.12 indicates potential liquidity challenges, with short-term obligations exceeding liquid assets.
The combined net proceeds from the IPO and the private placement, totaling $202.25 million, have been deposited into a trust account with Continental Stock Transfer & Trust Company.
The SEC filing also includes an audited balance sheet dated March 3, 2025, reflecting the receipt of the proceeds from the IPO and the private placement. This financial statement is made available as part of the company’s current report.
NewHold Investment Corp. III, based in New York, has not announced any specific business combination target as of the date of the report. The company’s units, Class A ordinary shares, and warrants are listed on The Nasdaq Stock Market under the ticker symbols NHICU, NHIC, and NHICW, respectively. For investors interested in comprehensive SPAC analysis and valuation metrics, InvestingPro offers detailed financial health scores and additional investment insights, with 6 more exclusive ProTips available for subscribers.
This report is based on a press release statement and provides a factual account of NewHold Investment Corp. III’s recent financial activities as disclosed in their latest SEC filing.
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