NewHold Investment Corp. Shareholders Approve Business Combination with Evolv Technology

WALTHAM, Mass. & NEW YORK–() – NewHold Investment Corp. (NASDAQ: NHIC, “NewHold”), a publicly traded special purpose vehicle, announced that its shareholders have approved all proposals relating to the previously announced business combination (the “Business Combination”) with Evolv Technologies, Inc. (“Evolv Technology” or “ Evolv “) at their extraordinary general meeting on Thursday, July 15, 2021.

Approximately 89% of the votes cast at the meeting to propose the business combination, representing approximately 69% of NewHold’s outstanding shares, voted in favor of the business combination with Evolv. NewHold shareholders also voted overwhelmingly in favor of the other proposals at the special meeting.

The formal voting results are included on a Form 8-K, which must be filed with the SEC.

The business combination is expected to close on or around Friday, July 16, 2021. Upon completion, the combined company will trade as Evolv Technologies Holdings, Inc. and its common stock and warrants are expected to be listed on the Nasdaq Stock Market LLC under the symbols “EVLV” and “EVLVW” beginning on or about Monday, July 19, respectively 2021.

About Evolv technology

Evolv Technology is the world’s leading provider of AI-based non-contact security control systems that increase security without compromising the visitor, student, and employee experience. Building on its Evolv Cortex AI ™ software platform, the company offers a range of AI-based non-contact screening technologies for weapon detection, identity verification and health-related threats. Led by a team of leading security companies with a track record of providing first-to-market products, Evolv’s investors include Florida Governor Jeb Bush, Finback Investment Partners, DCVC, General Catalyst Partners, Lux Capital, SineWave Ventures, Motorola Solutions, and STANLEY ventures. The company’s strategic sales partners include Motorola Solutions, STANLEY Security and Johnson Controls. Evolv Express® has industry awards like the Edison Pricing 2020 ™, two Campus Safety 2020 BEST Awards, Campus Security & Life Safety Magazine Awards for the safe campus 2020 and best employers from Inc. magazine and Built in Boston.

Evolv Technology, Evolv Express®, Evolv Insights ™ 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 founded in 2020 for the purpose of carrying out a merger, a capital exchange, an asset acquisition, a share purchase, a restructuring or a similar business combination with one or more companies. While the company can track a business combination in any company or industry, it focuses on identifying companies in the industrial technology sector. For more information, visit https://nhicspac.com.

IMPORTANT LEGAL INFORMATION

Forward-Looking Statements

This document contains certain forward-looking statements within the meaning of federal securities laws relating to the proposed transaction between NewHold Investment Corp. (“NewHold”) and Evolv Technologies, Inc. (“Evolv”). These forward-looking statements are generally identified by the words “believe”, “project”, “expect”, “anticipate”, “estimate”, “intend”, “strategy”, “future”, “opportunity”, “plan”, ” “May”, “should”, “will”, “would”, “will be”, “will go on”, “will likely result” and similar expressions. Forward-looking statements are predictions, forecasts and other statements about future events that are based on current expectations and assumptions and are therefore subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements contained in this document, including, but not limited to: (i) the risk that the Transaction will not be completed in a timely manner or at all, which could have an adverse effect on the price of NewHold’s securities, (iii) failure to meet the conditions of completion of the Transaction, including acceptance of the Agreement and the Proposal of Merger dated March 5, 2021 (the “Merger Agreement”), up to and between NewHold, Evolv and the NHIC Merger Sub Inc., a Delaware corporation and a direct wholly-owned subsidiary of NewHold, by NewHold’s shareholders, meeting the minimum escrow account amount following redemptions by NewHold’s public shareholders and obtaining certain state and regulatory approvals, (iv) the lack of a Evaluation by third parties when deciding whether the door an action is to continue or not, (v) the inability to complete the PIPE investment in connection with the trade, (vi) the occurrence of an event, change or other circumstance that could result in the termination of the Merger Agreement, (vii ) the impact of the announcement or pendency of the Transaction on the business relationships, results of operations and business of Evolv Aviationvolv in general the Transaction, (ix) the outcome of legal proceedings against Evolv or NewHold, the Merger Agreement or Transaction, (x) the ability to maintain the listing of NewHold’s securities on a national stock exchange, (xi) the price of the NewHold securities can fluctuate due to a variety of factors including changes in competition and highly regulated industries in which NewHold intends to operate or Evolv operates, differences in competitor operating performance, changes in law and regulations affecting NewHold or Evolv’s business, and changes in the combined capital structure, (xii ) the ability to execute business plans, projections, and other post-transaction expectations and to identify and realize additional opportunities; and (xiii) the risk of downturns and a changing regulatory landscape in Evolv’s highly competitive industry. The above list of factors is not exhaustive. You should consider the foregoing factors and the other risks and uncertainties set out in the “Risk Factors” section of NewHold’s Registration on Form S-1 (File Number 333-239822), the Registration Statement on Form S-4 discussed above, and other documents which NewHold fils with the SEC from time to time. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements only apply at the time of their publication. Readers are cautioned not to place undue reliance on forward-looking statements, and unless required by law, NewHold and Evolv undertake no obligation and do not intend to update or revise these forward-looking statements as a result of new information or future events, or otherwise. Neither NewHold nor Evolv make any representation that either NewHold or Evolv or the combined company will meet their expectations.

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