Month: March 2021

“Safe at Home”, Once Again

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By Rick Abraham, Vice President, Technical Sales and Solutions, Evolv Technology with Jeff Cahill, Manager Customer Success, Evolv Technology

One of the most rewarding things about our work at Evolv is that we get to help people do the things they love with a greater sense of safety, security, comfort, and convenience. It’s not just something we sense; it’s something we see and experience. It happens in every customer engagement, yet it particularly hit home for Jeff and me working with our first MLB team.

Jeff and I are big baseball fans. We know that one-of-a-kind feeling of going to the ballpark, seeing that lush green diamond and spending the day cheering or commiserating with family, friends and like-minded strangers who share a common bond. Once you’ve had that experience, it becomes a part of your very essence.

In 2020, fans were deprived of that experience because of COVID-19. It was a tough year for professional baseball, as it was for so many of the simple joys in life that we normally take for granted. The teams played the games, but the fans stayed home. 

As we head into the 2021 season, one of the top priorities for Major League Baseball is to bring fans back to the ballpark. Each team must think about delivering a safe experience for everyone who enters. We are proud to be part of our first Major League Baseball security solution to deliver a safe experience for their fans, and anyone else passing through.

Earning Our Place in the Line Up

We were put to the test, and we passed. We have become embedded with the expert security and operations teams. We always say to our customers: “We are an expert in our technology, you are an expert in your space”.  Nothing could be closer to the truth. 

At Evolv, The Mission is Personal

For Jeff and me, and for all of us at Evolv, there is a personal connection to the work we do. We know we are creating a safer and better environment for people to do the things they enjoy or go back to work with less fear and trepidation following the trauma of COVID.

Jeff says the camaraderie in baseball is akin to what he feels working at Evolv, the spirit of all being in it together and believing we can accomplish great things. As he told me the other day: “I’ve never experienced such dedication and commitment in any job I’ve ever had. I feel like I’ve known the people at Evolv forever.”

For many people, baseball is an important part of forging connections. Fathers and sons, grandfathers and granddaughters, friends and family. And as we talked, we both felt a wave of pride knowing that we, in our own small way, are helping reopen ballparks for our country’s favorite pastime and enabling those connections to continue once again at one of the most celebrated and iconic venues in America. What more could you ask for?

Diving into the Award-Winning Artificial Intelligence Technology Behind Evolv Express®

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It’s always nice to see your work recognized, so it was gratifying to me and the entire team here at Evolv Technology to learn we earned an Artificial Intelligence Excellence Award from the Business Intelligence Group. The award is particularly meaningful because it goes to companies that “bring AI to life and apply it to solve real problems.”

That certainly describes Evolv, which uses AI to fundamentally transform human security screening, which until Evolv, has had to rely on a nearly 100-year-old metal detection technology, purpose-built for finding metal as the name implies. And, as we all know, in today’s world, we carry metal every day – our smartphones. So, it’s about time we start differentiating between a metal that is a threat, and a metal that is not.  

Evolv’s use of AI enables our Evolv Express® touchless screening system to screen some 3,600 people per hour, about 10 times the rate of an outdated walk-through metal detector. It does so without requiring most people to slow down, stop, get frisked, or empty their pockets and bags. That’s a particularly important point during the pandemic; this touchless technology allows for social distancing and requires no contact with people or their belongings – attributes a recent Harris Poll found to be important in getting people back to schools, live event venues, and workplaces. 

It’s fitting that our award fell under the “automatic target recognition” application category, one of the earliest applications of radar. As radar was upon its debut, I like to think Evolv’s use of AI for screening is a technological leap forward today. 

Screening technology takes a giant leap forward

A traditional metal detector transmits an electromagnetic field that triggers an alarm upon the detection of metal, so it either finds metal or it doesn’t. If it does, you know the drill – it’s off to the guard with the wand, perhaps a pat-down and emptying of your pockets and bags, and likely another pass through the metal detector, back and forth like a yo-yo. It’s a time-consuming and highly physical interaction and I posit; do you really want to find every bit of metal?

Evolv’s technology combines AI technology with sophisticated state-of-the-art sensors which together not only detect metal but can determine the type of metal and shape of the object. That’s important on a couple of fronts. 

By looking at the data from a wide range of firearms, consumer electronics, and other common metal objects, certain consistent patterns emerge in the metals used, their dimensions, etc.  By applying AI technology, these patterns of metal content and shape can help identify what the object is – a cell phone, a set of keys, or the like. By differentiating between benign objects and threats, there’s no need for people to empty their pockets or bags. 

Well-trained AI and state-of-the-art sensors 

A number of technologies come into play to deliver on that kind of accuracy. 

Our AI model has been trained on nearly 50,000 object scans, including multiple types of firearms along with everyday items that people carry in their pockets or bags. 

Equally crucial is our sensor technology. We use transmitters and receivers that operate in the ultra-low frequency radio wave spectrum. That spectrum is able to deliver the best characterization of properties, enabling us to detect those different types of metals. 

And using multiple other sensors to account for distinct environmental conditions, our software can self-calibrate in the measurement results, to maintain high levels of accuracy. 

Unsung hero: data cleaning and pre-processing

One other ingredient in our secret sauce, and a key to what makes the system effective in real-time, is data cleaning and pre-processing. I think of this technology like a goalie in soccer; they tend to get little fanfare or glory (although plenty of blame), but for a team to excel it needs a good goalie. The same goes for AI when it comes to data pre-processing. 

Pre-processing happens on-site as people are coming through the Evolv Express system. We take all the data that’s coming at us, then factor in any interference nearby along with a series of filters that help us isolate the signals we really care about – the objects people are carrying. By the time we hand off data on a given subject to our AI engine, the data is clean, focused, and crunched into a useable format. The end result is an AI that is robust, efficient, and simple, relatively speaking. Of course, operators don’t need to know anything about the technology itself. While Evolv Express may be full of sophisticated technology, it’s simple to use.  

Harnessing the power of AI 

Hopefully, this gives you some sense of the power that AI brings to everyday applications like screening – and how it’s a sea change from the traditional metal detector. While the technology behind Evolv Express was in development well before anyone ever heard of Covid-19, it’s clear it offers an effective solution to keeping people safe from weapons and intruders, and socially distanced and safe from health threats as they return to schools, ticketed venues, and workplaces. 

I’m gratified that the folks at Business Intelligence Group could see the value in Evolv Express and saw fit to recognize us with an Artificial Intelligence Excellence Award.

The Next Step in Democratizing Security

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In view of today’s announcement, I wanted to provide a little more color about how this all relates to our mission and why this moment is so important to that mission. People who join Evolv, including me, come here because we want to make the world a safe place to live, work, learn, and play. We think of ourselves as the human security company because we want security to be less invasive, more human and effective. 

I believe this mission is now more urgent than ever because we’re the only company democratizing security in a way that will actually make a difference. That’s a bold statement, but we’re living in a time when bold action is required. Democratizing security is going to be a huge effort, and I believe we’re much more likely to pull it off as a public company.  Here’s why we’re so passionate about doing this right now, in this way.

The world is more dangerous than ever before. There were 661 mass shootings in the United States in 2020, a 40% annual increase in a year when most gathering spaces were restricted or shut down. New gun purchases were up 64% last year in the United States, a country that already had more guns than people. US CDC research says 40% of adults reported recent battles with mental health or substance abuse during 2020, with the prevalence of anxiety up 3X and depression up 4X year on year. Some of that anxiety may recede as we come to terms with the pandemic, but all those guns are still out there and the polarization and inequality that drive many acts of violence remain. In this chronically volatile environment, keeping weapons out of gathering spaces must be a top priority for every venue and facility.

Consumers demand touchless experiences everywhere. Even before the pandemic, seemingly every aspect of the consumer experience was going touchless: payments, tickets, retail, bathroom fixtures, doors, minivan hatches, you name it. Crowded security lines and hands-on bag checks were just a nuisance in the past, but now they are unthinkable. No one wants security guards touching their stuff or their person without good reason. The future of the security experience must be touchless and fast.

Analog security processes won’t cut it anymore. Traditional security products are too slow, costly, and error prone for today’s world. Even the most motivated well-trained guards can only do so much, especially when they are fighting a flood of nuisance alarms from outdated analog technology that can’t tell the difference between a gun and a phone. As I wrote last year, I believe that the future of security is fully digital.  This digital transformation will not only reduce costs, but also unlock innovations that transform the experience from a trial to be endured into a social gathering to be enjoyed.

Security screening isn’t just for airports and jails anymore. It comes as no surprise that very few of the 661 mass shootings in the U.S. last year happened at airports or jails, where security screening is mandatory. The shootings happened at all the other places where people gather: schools, industrial workplaces, offices, malls, places of worship, and stadiums. These facilities need the protection that security screening provides, but they’ll never deploy it at scale until it costs far less without the jailhouse or airport experience. That’s what we do, and we’re now ready to scale it up.

The barriers to democratizing security have fallen. Security screening operations based on our technology costs up to 70% less than traditional screening based on walk-through metal detectors, and we do it up to 10 times faster. And we offer our technology under a modern annual subscription pricing model that reduces up-front costs and gives customers access to future product enhancements. Our customers tell us that we find weapons their old systems would have missed, that their employees and visitors love the experience, and that the promised cost savings are real. In summary, it is now possible for most large facilities to keep dangerous weapons out while keeping visitors, students and employees happy.

The capital we raise through today’s transaction will help us build toward realizing our vision and accomplishing our mission. That means extending our product portfolio, ramping up our sales and marketing activities, and scaling up production of our current products. Being a public company provides access to capital for these activities both now and in the future.

The SPAC approach to becoming a public company has been fantastic because it not only accelerates the whole process of becoming a public company, but also allows us to work with the team at NewHold. Their deep networks, expertise, and experience will be very useful as we rapidly scale our disruptive businesses.

Evolv Technology, the Leader in AI-Enabled Touchless Security Screening, to Become Publicly Traded Through Merger with NewHold Investment Corp.

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  • Evolv is the leader in AI touchless security screening, dedicated to making the world a safer place to live, work, learn and play by helping to protect innocent people from mass shootings and terrorist attacks.  Evolv has screened over 50 million people, second only to the TSA in screening people in the U.S.
  • Combined company expected to have a post-transaction pro forma total enterprise value of approximately $1.25 billion, total equity value of approximately $1.7 billion and intends to remain listed on the NASDAQ under the ticker symbol “EVLV” following an anticipated transaction close in Q2 2021.
  • The combined company is expected to have approximately $470 million in gross proceeds, assuming no trust account redemptions – comprised of $172.5 million of cash held in trust from NewHold Investment Corp. and an upsized $300 million fully committed common stock private investment (“PIPE”) at $10.00 per share.
  • The upsized and oversubscribed $300 million PIPE is anchored by strategic partners including Motorola Solutions Inc., and top-tier institutional investors including Magnetar Capital, Eldridge, Senator Investment Group and UBS O’Connor, in addition to investments from star athletes, franchise owners and managers including Peyton Manning, Andre Agassi, Steffi Graf, Joe Torre, Theo Epstein, Tony Ressler, Mark Attanasio and Bennett Rosenthal, who all want the world to re-open, and re-open safely.
  • All current Evolv stockholders, including Bill Gates, Lux Capital, General Catalyst, DCVC, SineWave Ventures, Motorola Solutions, STANLEY Ventures, and Finback Investment Partners, will retain their equity holdings through closing.
  • Proceeds will fund rapid growth, expand international markets and help accelerate adjacencies through partnerships and acquisitions. For example, in 2020, the company introduced integrated thermal sensor and Evolv TempCheck software to screen for elevated body temperatures.
  • Evolv is the first company in the industry to introduce a subscription SaaS Model with its customers, including, Uber, Lincoln Center, L.L. Bean, and Six Flags.
  • Evolv and NewHold will host a joint investor conference call to discuss the proposed transaction on March 8th, 2021 at 7:00 AM EST. To access the conference call, please visit https://nhicspac.com or use dial-in 1-844-512-2921 and enter passcode 1143844.

For additional information visit: NHICspac.com

NEW YORK, NY & WALTHAM, MA – March 8, 2021 – Evolv Technology (“Evolv”), the leader in AI touchless security screening, and NewHold Investment Corp. (“NewHold”) (NASDAQ: NHIC), a special purpose acquisition company (“SPAC”), today announced they have entered into a definitive merger agreement for a business combination that will result in Evolv becoming a publicly traded company. It is anticipated that Evolv will trade on the NASDAQ with the ticker symbol “EVLV” after the deal closes in Q2 2021. 

Evolv Technology – Leader with Unrivaled Technology and Market Presence

Evolv is transforming the physical security industry, as the first AI-enabled touchless screening system in the market. The Evolv Express® system delivers up to a 70% reduction in cost and is ten times faster than traditional metal detectors, resulting in screening an unparalleled 3,600 people per hour, per system. The system allows for visitors to pass through screening without breaking stride and continuing the pace of life, improving security at the speed and scale required in this post-pandemic world.  Built on its Evolv Cortex AI™ software platform, Evolv is continually improving the security posture for customers through machine learning and analytical insights on-demand, an industry first.  

The world’s most iconic venues and companies place their trust in Evolv to protect their employees and visitors including Uber, Lincoln Center, L.L. Bean, Six Flags and others.  In addition, Evolv signed a significant technology and go-to-market partnership with Motorola Solutions, a global leader in land mobile radio mission-critical communications, video security and analytics, and command center software for enterprise and public safety customers.  Evolv expects this partnership to accelerate growth and market presence going forward.

The New Reality for Security is a Seamless Experience

In the current and post-pandemic world, organizations are and will be looking for solutions to support safe operations that address threats from weapons violence and public health threats. These venues, companies and schools need security that does not disrupt the public gathering experience and avoids the problems that come with traditional security approaches such as crowds, single file lines, bag checks, wands and pat downs. These organizations are also looking for ways to improve their customer experience by combining security with ticketing for a seamless and touchless visitor experience. Evolv is at the forefront of this convergence, which can be achieved through an intelligent software-based approach to physical security.

Proposed Transaction is the Next Logical Step 

Evolv’s patented and rapidly expanding technology portfolio in weapons screening provides the company with significant competitive advantages to capitalize on a substantial global market opportunity, estimated to be approximately 0 billion for Evolv’s AI-enabled touchless screening systems. Its software platform allows for rapid integration of new capabilities such as the recently launched thermal scanning.

Having delivered strong annual revenue growth and winning contracts with some of the most iconic brands in sports, entertainment, cultural and corporate environments, Evolv and its Board of Directors believe this proposed transaction is the appropriate next step to position the company for continued success. 

Management and Investor Comments

“Evolv Technology was built with a mission to make people safer in their everyday lives – whether at work, in stores, stadiums, concert halls, theme parks or schools,” said Peter George, CEO of Evolv. “In a world where increasing weapons violence and health threats imperil human security, our platform identifies threats before they cause harm, without the invasive pat downs, wands and bag checks experienced with traditional metal detector technology. Every Evolv team member shares that mission: to save lives. Our merger with NewHold will provide the capital to build upon our expansive vision for human security.”

“Evolv Technology presents a preeminent opportunity to build the world’s most important enterprise in physical security, expanding the boundaries through AI and analytics,” said Kevin Charlton, CEO of NewHold Investment Corp. “This transaction will provide Peter and the Evolv team with the capital to continue to develop the leading technologies that will make people safer and make their lives more convenient.”

Transaction Overview

Pursuant to the merger agreement, Evolv will merge with a wholly owned subsidiary of NewHold, with Evolv being the surviving entity of the merger and a wholly owned subsidiary of NewHold. NewHold, which currently holds approximately 72.5 million of cash in trust, will be renamed to Evolv Technology, Inc. following the merger. The combined entity will have an estimated pro forma enterprise value of approximately .25 billion. The upsized and oversubscribed 00 million PIPE includes investors such as Motorola Solutions, Inc., Magnetar Capital, Eldridge, Senator Investment Group and UBS O’Connor, in addition to investments from star athletes, franchise owners and managers. Assuming no trust account redemptions by NewHold’s public stockholders, Evolv’s existing stockholders will own approximately 72% of the fully diluted shares of common stock of the combined company immediately following the closing of the business combination. 

The combined company expects to receive approximately 70 million in gross proceeds from the trust account and PIPE investors, assuming no redemptions by NewHold’s existing public shareholders. These cash proceeds are expected to be used to extend Evolv’s product portfolio, operating expenses incurred as a result of customer demand, and working capital to support increasing production demand. In addition, proceeds will be used to expand the company’s penetration of the physical security market and build new markets with its touchless security-as-a-service technology.

Following the closing of the transaction, the company will be led by CEO Peter George.  Kevin Charlton, CEO of NewHold and Neil Glat, board member of NewHold, will join Evolv’s Board of Directors alongside Evolv CEO Peter George, Evolv Co-Founder Mike Ellenbogen, Chairman Alan Cohen of DCVC, David Orfao of General Catalyst, Bilal Zuberi of Lux Capital, an executive from Motorola Solutions, Merline Saintil and Mark Sullivan.

The transaction has been unanimously approved by the Board of Directors of both NewHold and Evolv and is subject to the satisfaction of customary closing conditions, including the approval of NewHold’s stockholders. The transaction is expected to close in the second quarter of 2021. 

Additional information about the proposed business combination, including a copy of the merger agreement and investor presentation, will be provided in a Current Report on Form 8-K to be filed by NewHold today with the Securities and Exchange Commission (the “SEC”) and available at www.sec.gov. The investor presentation can be found on NewHold’s website at https://nhicspac.com. In addition, NewHold Investment Corp. intends to file a registration statement on Form S-4 with the SEC, which will include a proxy statement/prospectus, and will file other documents regarding the proposed transaction with the SEC.

Investor Conference Call Information

Evolv Technology and NewHold Investment Corp. will host a joint investor conference call to discuss the proposed transaction on March 8th, 2021 at 7:00 AM EST. To access the conference call, please visit https://nhicspac.com or via dial-in at 1-844-512-2921 with passcode 1143844.

Advisors

Cowen is acting as sole financial and capital markets advisor to Evolv.  Cowen acted as sole placement agent to NewHold in connection with the 00 million PIPE.  Stifel is acting as sole financial and capital markets advisor to NewHold. Latham & Watkins LLP is acting as legal counsel to Evolv and Loeb & Loeb LLP is acting as legal counsel to NewHold. 

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, (iii) 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, (iv) the lack of a third party valuation in determining whether or not to pursue the transaction, (v) the inability to complete the PIPE investment in connection with the transaction, (vi) the occurrence of any event, change or other circumstance that could give rise to the termination of the Merger Agreement, (vii) the effect of the announcement or pendency of the transaction on Evolv Aviation’s business relationships, operating results and business generally, (viii) risks that the proposed transaction disrupts current plans and operations of Evolv and potential difficulties in Evolv employee retention as a result of the transaction, (ix) the outcome of any legal proceedings that may be instituted against Evolv or against NewHold related to the Merger Agreement or the transaction, (x) the ability to maintain the listing of NewHold’s securities on a national securities exchange, (xi) the price of NewHold’s securities may be volatile due to a variety of factors, including changes in the competitive and highly regulated industries in which NewHold plans to operate or Evolv operates, variations in operating performance across competitors, changes in laws and regulations affecting NewHold’s or Evolv’s business and changes in the combined capital structure, (xii) the ability to implement business plans, forecasts, and other expectations after the completion of the transaction, and identify and realize additional opportunities, and (xiii) the risk of downturns and a changing regulatory landscape in Evolv’s highly competitive industry. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of NewHold’s registration on Form S-1 (File No. 333-239822), the registration statement on Form S-4 discussed above and other documents filed by NewHold from time to time with the SEC. 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 speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and except as required by law NewHold and Evolv assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Neither NewHold nor Evolv gives any assurance that either NewHold or Evolv or the combined company will achieve its expectations.

Any financial projections in this communication are forward-looking statements that are based on assumptions that are inherently subject to significant uncertainties and contingencies, many of which are beyond NewHold’s and Evolv’s control. While all projections are necessarily speculative, NewHold and Evolv believe that the preparation of prospective financial information involves increasingly higher levels of uncertainty the further out the projection extends from the date of preparation. The assumptions and estimates underlying the projected results are inherently uncertain and are subject to a wide variety of significant business, economic and competitive risks and uncertainties that could cause actual results to differ materially from those contained in the projections. The inclusion of projections in this communication should not be regarded as an indication that NewHold and Evolv, or their representatives, considered or consider the projections to be a reliable prediction of future events.

Important Information for Investors and Stockholders

This document relates to a proposed transaction between NewHold and Evolv. This document does not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange, any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, sale or exchange would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. NewHold intends to file a registration statement on Form S-4 with the SEC, which will include a document that serves as a prospectus and proxy statement of NewHold, referred to as a proxy statement/prospectus. A proxy statement/prospectus will be sent to all NewHold stockholders. NewHold also will file other documents regarding the proposed transaction with the SEC. Before making any voting decision, investors and security holders of NewHold are urged to read the registration statement, the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC in connection with the proposed transaction as they become available because they will contain important information about the proposed transaction.

Investors and security holders will be able to obtain free copies of the registration statement, the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC by NewHold through the website maintained by the SEC at www.sec.gov. Alternatively, these documents, when available, can be obtained free of charge from NewHold upon written request to NewHold Investment Corp., c/o NewHold Enterprises, LLC, 52 Vanderbilt Avenue, Suite 2005, New York, New York 10017, Attn: Charlie Baynes-Reid, or by calling (212) 653-0153, or by email at info@newholdllc.com. 

Participants in the Solicitation

NewHold and Evolv and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from NewHold’s stockholders in connection with the proposed transaction. A list of the names of the directors and executive officers of NewHold and information regarding their interests in the business combination will be contained in the proxy statement/prospectus when available. You may obtain free copies of these documents as described in the preceding paragraph.

This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any sale of any securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such other jurisdiction.

For Evolv Technology:

Investor Contact:
Michael Bowen and Ryan Gardella
EvolvIR@icrinc.com

Media Contact:
Jed Hamilton
EvolvPR@icrinc.com 


For NewHold Investment Corp.:

Investor & Media Contact:
Amanda Tarplin
amanda@tarplinconsulting.com