NewHold Investment IV, a blank check company formed by NewHold Enterprises targeting industrial technology, raised $175 million by offering 17.5 million units at $10. Each unit contains one share of common stock and one-third of one warrant exercisable at $11.50.
NewHold Investment IV is led by CEO Kevin Charlton, the co-chairman of NewHold Enterprises. He is joined by CFO Polly Schneck, the CFO of NewHold Enterprises.
Management's previous SPACs include NewHold Investment III (Nasdaq: NHICU) in 2024, NewHold Investment II, which was liquidated in 2023, and NewHold Investment, which went public in 2021 and completed its combination with industrial technology firm Evolv Technologies Holdings (Nasdaq: EVLV).
The SPAC intends to target a business related to industrial technology, ideally with an aggregate enterprise value of $700 million or greater. More specifically, they are focusing on businesses in transportation, distribution, manufacturing, and robotic industries.
The New York, NY-based company will trade on the Nasdaq under the symbol NHIVU. BTIG acted as sole bookrunner on the deal.
