NewHold Investment Corporation

What NewHold Investment Corporation does

NewHold Investment Corporation is a serial SPAC (Special Purpose Acquisition Company) sponsor that raises public capital through Nasdaq-listed IPOs and seeks business combinations with industrial technology and business services companies. The company operates through its parent NewHold Enterprises, LLC and runs a lean management team of fewer than 10 executives led by CEO Kevin Charlton, who has led multiple SPAC transactions across Hennessy Capital Acquisition Corps I, II, III, and NewHold Investment Corp I. Since 2020, the platform has launched three SPAC vehicles: NHIC I (IPO July 2020, $150M raised), NHIC III (IPO March 2025, $201.25M raised), and NHIC IV (IPO April 2026, $201.25M raised), each structured as a Cayman Islands exempted company.

The platform has executed one completed business combination to date — NHIC I merged with Evolv Technology in July 2021 at a pro forma enterprise value of approximately $1.3 billion, producing the NASDAQ-listed Evolv Technologies Holdings (EVLV) with a $300M PIPE investment from Motorola Solutions. A second business combination was announced in May 2026 between NHIC III and newcleo, a European-headquartered developer of advanced modular nuclear reactors and nuclear fuel, representing a vertical expansion from the platform's historical industrial technology focus. NHIC IV remains in its search phase as of the most recent reporting.

As a SPAC sponsor, NewHold does not generate traditional operational revenue. Its financial structure is built on raising IPO proceeds, holding them in interest-bearing trust accounts, and realizing value through the spread between trust value and target valuation at de-SPAC. Units are priced at $10.00 each, comprising one Class A ordinary share and a fractional redeemable warrant (one-third of a warrant in NHIC IV, one-half in earlier vehicles). BTIG, LLC has served as sole book-running manager for both NHIC III and NHIC IV IPOs, with Stifel and Cowen providing advisory roles on the Evolv transaction. The management team is supported by an expanded advisory board featuring industrial technology, nuclear energy, aviation, and cross-border (Middle East, Europe, India) expertise, signaling intent to broaden the target pipeline beyond U.S. industrial technology.

Name

NewHold Investment Corporation

Legal name

NewHold Investment Corp

Website

https://nhicspac.com

Company type

Public

Founded year

2020

Operating status

Operating

Headcount range

1–10 employees

Short description

NewHold Investment Corporation is a SPAC sponsor that raises public capital through Nasdaq-listed IPOs to bring industrial technology and business services companies to the public markets via business combinations. The platform has issued three SPAC vehicles since 2020, with one completed merger (Evolv Technology) and one announced (newcleo).

Ownership category

akta.pro rank

Product category

Special Purpose Acquisition Companies (SPACs)

NAICS

Investment Banking and Securities Intermediation (523150)

SIC

Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Capital Markets Advisory (IPO Readiness, SPAC, ECM/DCM Advisory) (BPAHAOAL)

Keywords

• Special purpose acquisition
• Industrial technology investments
• Blank check companies
• Business combination services
• Capital markets advisory

Headquarters

HQ city

Houston

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Trust Interest Income: SPACs hold IPO proceeds in a trust account and earn interest on those funds until a business combination is completed. The revenue is the trust interest income during the search period.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

NewHold Investment Corporation is a sponsor of Special Purpose Acquisition Companies (SPACs) that raise capital through Nasdaq IPOs and seek business combinations with private industrial technology and business services companies. The firm launched NHIC I in 2020 (which merged with Evolv Technology in 2021) and continues to operate NHIC III and NHIC IV as listed SPAC vehicles. Each unit is offered at $10.00 with proceeds held in a trust account pending a business combination.

Product overview

NewHold Investment Corp operates a family of Special Purpose Acquisition Companies (SPACs) as separate entities, each targeting industrial technology and business services companies for business combinations. The portfolio includes three SPACs: NHIC I, which completed its merger with Evolv Technologies (AI-enabled touchless security screening, now trading as EVLV); NHIC III, focused on industrial technology with an announced combination with newcleo (advanced nuclear reactors and fuel); and NHIC IV, focused on growing industrial and business services companies.

Differentiator

Problem solved

Functional benefit

Products and services

• NHIC I NHIC I was NewHold's first SPAC IPO vehicle, raised capital on Nasdaq at $10.00 per unit, and completed its business combination with Evolv Technology in 2021, taking Evolv public.
• NHIC III NHIC III is an actively trading SPAC listed on Nasdaq, structured to identify and consummate a business combination with a private industrial technology or business services company.
• NHIC IV NHIC IV is an actively trading SPAC listed on Nasdaq under the NewHold programmatic structure, raising capital in a $10.00 per-unit IPO and seeking a business combination with an industrial technology or business services target.

Named customers1 record

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core.

• newcleocoreStrategic or Co-development Partner · 27 May 2026NHIC III announced a business combination agreement with newcleo, a developer of advanced modular nuclear reactors and nuclear fuel manufacturing technology. This represents NHIC III's target acquisition in the advanced nuclear technology sector.
• BTIG, LLCcoreChannel Partner/ Reseller/ DistributorBTIG, LLC served as sole book-running manager for NHIC IV IPO. Also acted as sole book-running manager for NHIC III IPO.

Scale indicators5 records

Recent moves9 records

Expansion highlights4 records

Emerging players

• Cox Capital Corp: SPAC sponsor that completed a business combination with Doma Holdings. Comparable in lifecycle stage (post-IPO, pre-deal) and capital-raising mechanics, though with different sector focus.
• ST Energy Transition I: SPAC focused on energy transition targets; relevant given NHIC III's announced newcleo combination in advanced nuclear. Comparable as a thematic industrial/energy SPAC pursuing capital-intensive industrial tech combinations.

Direct peers

• Industrial Tech Acquisitions (ITAN): SPAC explicitly focused on industrial technology with similar trust size and prospectus-defined minimum enterprise value thresholds as NewHold. Direct competitor in the industrial tech SPAC niche.
• dMY Technology Group: SPAC sponsor that completed de-SPACs with Rush Street Interactive and IonQ. Comparable as a repeat SPAC issuer using BTIG as a key underwriter on similar trust sizes and with similar multi-vehicle sponsor strategy.
• Ares Acquisition Corp: Sponsor-backed SPAC (Ares Management) focused on industrial and business services targets that completed a business combination with X-Energy in 2024-2025. Highly comparable given industrial focus, similar sponsor structure, and energy-adjacent industrial targets.
• Hennessy Capital Acquisition Corp: Kevin Charlton's prior SPAC series (I, II, III) where he served as President/COO before founding the NewHold platform. Closely comparable given shared management lineage, similar capital-raising structure, and focus on industrial/industrial-tech targets.
• Inflection Point Acquisition Corp: Industrial technology and energy transition-focused SPAC that completed a business combination with Intuitive Machines (LUNR) in 2023. Closely comparable given similar industrial tech focus, similar trust size, and the same post-2021 SPAC vintage.
• Gores Holdings: Affiliates of The Gores Group have sponsored multiple SPACs targeting industrial technology and business services, including completed deals with Hostess Brands, Verra Mobility, and others. Comparable given industrial tech focus and serial SPAC issuance model.

Others

• Stifel Financial Corp: Sole bookrunner for NHIC I IPO and financial advisor to NewHold on the Evolv combination. Comparable as a SPAC ecosystem service provider rather than a competitor, but central to the NewHold distribution and execution capability.
• BTIG, LLC: Sole bookrunner for NHIC III and NHIC IV IPOs and a leading underwriter of industrial tech SPACs. Relevant as the underwriter partner enabling NewHold's SPAC issuance strategy rather than a competitive peer.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about NewHold Investment Corporation