NewHold Investment Corp. Announces Registration Statement on Form S-4
NewHold Investment Corp. (NASDAQ: NHIC) has filed a registration statement with the SEC for its proposed business combination with Evolv Technology, a leader in AI touchless security screening. This follows a definitive agreement announced on March 8, 2021, which will result in Evolv becoming publicly traded. The transaction is expected to close in Q2 2021, pending customary conditions and shareholder approvals. NewHold intends to rename itself Evolv Technologies Holdings, Inc. and will trade under the new symbol 'EVLV'. Audited financials for 2019 and 2020 are included in the filing.
- Proposed business combination with Evolv Technology positions NewHold for growth in the AI security sector.
- Evolv has notable investors, including Bill Gates, indicating strong market confidence.
- Transaction expected to close in Q2 2021, which could enhance shareholder value.
- Transaction completion is subject to customary conditions which pose risks to timely execution.
- Potential disruptions to Evolv's business relationships due to the announcement of the merger.
NewHold Investment Corp. (“NewHold”) (NASDAQ: NHIC), a special purpose acquisition company (“SPAC”), announced today that it has filed with the U.S. Securities and Exchange Commission (“SEC”) a registration statement on Form S-4 (the “Registration Statement”), which includes a preliminary proxy statement/prospectus, in connection with its recently-announced proposed business combination with Evolv Technology (“Evolv”), the leader in AI touchless security screening. The Registration Statement includes audited financials for the full years 2019 & 2020, with a financial year end of December 31.
On March 8, 2021, NewHold announced they have entered into a definitive agreement for a business combination that will result in Evolv becoming a publicly traded company. NewHold’s common stock is currently traded on the NASDAQ under the symbol “NHIC.” In connection with the closing of the transaction, NewHold intends to change its name to Evolv Technologies Holdings, Inc. and will remain listed on the NASDAQ exchange under the new symbol “EVLV.” The closing of the transaction, which is expected in the second quarter of 2021, is subject to customary closing conditions including SEC review and the approval of shareholders from both entities.
A link to the filing is available under the “SEC Filings” section of the NHIC website at https://nhicspac.com/. The filing can also be viewed on the SEC’s website at www.sec.gov.
About Evolv Technology
Evolv Technology is the world’s leading provider of AI touchless security screening systems that enhance safety without sacrificing the visitor, student and employee experience. Built on top of its Evolv Cortex AI™ software platform, the company provides an array of AI touchless screening technologies for weapons detection, identity verification and health-related threats.
Led by a team of security industry leaders with a track record for delivering first-to-market products, Evolv’s investors include Bill Gates, Florida Governor Jeb Bush’s firm, Finback Investment Partners, DCVC, General Catalyst Partners, Lux Capital, SineWave Ventures, Motorola Solutions and STANLEY Ventures. The company’s partners include Motorola Solutions, STANLEY Security and Johnson Controls. Evolv Express® has earned industry accolades such as the 2020 Edison Awards™, two Campus Safety 2020 BEST Awards, Campus Security & Life Safety magazine’s Secure Campus 2020 Awards and Best Places to Work by Inc. Magazine and Built in Boston.
Evolv Technology, Evolv Express®, Evolv TempCheck, and Evolv Cortex AI™ are registered trademarks or trademarks of Evolv Technologies, Inc. in the United States and other jurisdictions.
For more information, visit https://evolvtechnology.com.
About NewHold Investment Corp.
NewHold Investment Corp. is a blank check company formed in 2020 for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue a business combination target in any business or industry, it focuses on identifying businesses in the industrial technology sector. For more information visit https://nhicspac.com.
Forward-Looking Statements
This document contains certain forward-looking statements within the meaning of the federal securities laws with respect to the proposed transaction between NewHold Investment Corp. (“NewHold”) and Evolv Technologies, Inc. (“Evolv”). These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including but not limited to: (i) the risk that the transaction may not be completed in a timely manner or at all, which may adversely affect the price of NewHold’s securities, (ii) the failure to satisfy the conditions to the consummation of the transaction, including the adoption of the Agreement and Plan of Merger, dated as of March 5, 2021 (the “Merger Agreement”), by and among NewHold, Evolv and NHIC Merger Sub Inc., a Delaware corporation and a direct wholly owned subsidiary of NewHold, by the stockholders of NewHold, the satisfaction of the minimum trust account amount following redemptions by NewHold’s public stockholders and the receipt of certain governmental and regulatory approvals, (iii) the lack of a third party valuation in determining whether or not to pursue the transaction, (iv) the inability to complete the PIPE investment in connection with the transaction, (v) the occurrence of any event, change or other circumstance that could give rise to the termination of the Merger Agreement, (vi) the effect of the announcement or pendency of the transaction on Evolv Aviation’s business relationships, operating results and business generally, (vii) risks that the proposed transaction disrupts
FAQ
What is the purpose of NewHold's recent SEC filing?
When is NewHold's transaction with Evolv expected to close?
What will NewHold's ticker symbol be after the merger?
Who are the major investors in Evolv Technology?
What financial information has NewHold disclosed regarding Evolv?
