Taking Pride in Keeping People Safe

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I’ve spent the better part of the past seven years in the security industry, the last four helping to keep people alive. Before joining Evolv in February 2020, I was with a company that specialized in detecting metal contraband for prisons. We did searches to find cell phones and other foreign objects, including knives and razor blades that inmates were using to hurt one another and hurt staff members.

While working for that company, I imagined a product that would work like the Evolv Express®: A system that was touchless and unobtrusive, yet still capable of stopping the most dangerous threats. At the time, I didn’t believe such a product existed, except in my imagination. In reality, I wasn’t sure a system like that was even possible.

Doing what I was doing, ferromagnetic detection, I knew how difficult it would be to design a product that would intentionally miss all of the benign metal objects we all carry and just detect concealed handguns, bombs and large knives. Then I met with the team at Evolv. I asked to see the product. I saw it in action and said to myself: “I have to get this job.”

I am one of those people who has to be passionate about my work. I’ve never been so passionate about a mission like this before, and I’ve never worked like this before because I’ve never cared like this before. I get enormous satisfaction out of helping people. Helping them do their jobs better, get home earlier so they can be with their families, and doing my part to keep people safe.

“We need help”

I view my job as working with customers to help get people into venues more quickly while trying to locate concealed weapons they are not supposed to have—to create a clean environment. With our system, customers are able to treat every visitor the same—everyone walks across the same digital threshold. And everyone is treated with respect.

During all of my site visits, pilots, go lives and normal operations, I’ve watched more than a million people walk through our systems. They were all at a given venue for the right reasons, to enjoy a show, or do their jobs, or spend time with family and friends at a theme park or ballgame. I want to be able to help more and more venues prevent another active shooter event like the ones we’ve seen recently in Boulder and Atlanta.

I have a personal connection with all of my customers and a personal stake in their success. I could talk about my customers all day, but I’d like to focus on one that is close to my heart. In December, we received a call from a high-end shopping destination in Atlanta. That’s my home turf, where I grew up. That’s the mall I went to all my life. A mall where my mom and dad go, my cousins, other family members, friends and people in my community.

They said, “we need help.” There had been a string of shootings, including one where sadly, a person was killed. My colleague and I went to see them and arranged to set up an Evolv Express at one entry point. We detected several concealed weapons instantly and many over the course of a few days.  Prior to our engagement, my mom told me, “I’m not going to that mall anymore.” Friends said the same thing. We now have systems at multiple entry points and my friends and family say they are feeling easier and more confident about returning to their favorite shopping destination. I applaud the mall ownership for their forward-leaning approach and dedication to creating a safe environment and the best experience possible for their patrons and staff.

“We are all here to make a difference”

My family means the world to me. My mom and dad are my role models and heroes. The last thing I could ever think of is someone coming into a venue and taking them away from me. It sickens me when I hear about these things, these senseless acts like the one in Boulder. I know with the work we are doing at Evolv, we have a chance to stop these events from taking place at other venues. It gives me an enormous sense of pride and gratitude to know I am doing everything I can to prevent these senseless acts of violence. And I know that all of the people at Evolv feel the same way. We’re all here to make a difference. We have our mission, and our mission is to keep people safe.

Evolv Technology Brings Data Analytics Capabilities to its AI-enabled Touchless Security Screening System

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Evolv Technology, the leader in AI touchless security screening, today announced Evolv Insights™, a powerful SaaS-based analytics dashboard that provides security and operations professionals the ability to comprehensively review, analyze and collect valuable data from their Evolv Express® security screening systems throughout their venues and facilities.

Evolv is transforming the physical security industry by providing the world’s first AI-enabled touchless screening system. Built on its Evolv Cortex AI™ software platform, Evolv is continually improving the security posture for customers through machine learning and on-demand analytical insights in a way that legacy metal detectors and other analog screening systems cannot provide.

Available through the secure My Evolv Portal, Evolv Express customers can use Evolv Insights™ to extract data about venue and entrance visitor arrival curves and counts, system detection performance, alarm statistics and comparisons across multiple sites, locations within sites, event types, detection settings, time periods and more. Depending on a customer’s desired level of granularity, the data can be presented annually, quarterly, monthly, daily, hourly, and even down to five-minute increments. Designed to provide actionable insights, customers can easily export data on-demand to enable sharing with colleagues and leadership via a range of user-friendly visual formats.

“We believe AI is changing the world and Evolv has been at the forefront in applying its many advantages to the physical security screening market,” said Vice President of Product Management Steve Morandi at Evolv. “Until now, security teams using outdated metal detector technology have been forced to make operational decisions based on biased judgment and anecdotal inputs, collected manually under the pressure of time. With automated data collection and actionable insights, security teams can move from reactive management and intuition-led decision making, to proactive, data-informed operations.”

Evolv Insights Allows Customers to:

“As a leader in designing weapons detection solutions, gaining insights into the actual throughput and alerts is fundamental to those designs,” said Founder and Managing Partner Dan Donovan at Ingressotek. “As an Evolv Technology Partner, we work with many of the most recognizable stadiums, sporting events and entertainment venues to keep their fans, patrons and staff safe. Having integrated, actionable data at our fingertips through Evolv Insights is very valuable, especially as our customers start reopening. Evolv Insights gives them easy access to details about visitor flow and other critical information to effectively plan resources as well as adjust in real-time.”

“The ability to better understand and anticipate how our patrons return to Omaha Performing Arts events as we come out of the pandemic will be valuable as we refine our reopening plans,” said Senior Vice President and Chief Financial Officer Arnold Reeves at the Omaha Performing Arts. “The data could allow us to make more informed staffing decisions, and also provide the ability to view and easily report percent venue occupancy numbers. With multiple entrances into the venues, the data portal will allow us to determine where volunteers are needed most to help enhance the patron experience. Without Evolv Express and Evolv Insights, we’d have to rely on visual cues and estimates.”

“We recently started using Evolv Express to enhance security screening for guests and team members throughout our facility,” said Potawatomi Hotel & Casino Security Director Sam Guzman. “With Evolv Express we have a state-of-the-art system that can help us increase security efforts while maintaining a high level of service for our guests.”

The Evolv Express system delivers up to a 70% reduction in cost and is 10 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.

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 hundreds of others. Evolv’s systems have been used to screen more than 50 million people, second only to the Department of Homeland Security’s Transportation Security Administration in screening people in the U.S.

Join us for a live webinar on Tuesday, April 20, 2021 at 11:00 a.m. ET to learn more.

In March 2021, Evolv entered into a definitive agreement for a business combination with NewHold Investment Corp. (NASDAQ: NHIC) in a transaction that would result in Evolv becoming a U.S. publicly listed entity. The transaction is expected to close in the second quarter of 2021, subject to satisfaction of customary closing conditions. For more information visit nhicspac.com.

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.

In March 2021, Evolv entered into a definitive agreement for a business combination with NewHold Investment Corp. (NASDAQ: NHIC) in a transaction that would result in Evolv becoming a U.S. publicly listed entity. The transaction is expected to close in the second quarter of 2021, subject to satisfaction of customary closing conditions. For more information visit nhicspac.com.

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.

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 has filed a registration statement on Form S-4 with the SEC, which includes a document that will serve 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.

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.

 

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Jennifer Torode
tel:7812545836
jtorode@chenpr.com

 

 

It’s About the Data – Applying Analytics to Step Change Security Screening and Operations

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In 2006, Clive Humby, a British mathematician and entrepreneur in the field of data science, declared “Data is the new oil.” This compelling position has been amplified thru the years and referenced in numerous settings for various intents, particularly with the advent of machine learning and AI. While the comparison may often create interesting debate material, what is generally recognized is the finite supply of oil versus the infinite waterfall of data.

Until now, physical security screening and rich front door visitor entry data has been an untapped resource. With legacy screening systems, visitors pass through a security checkpoint as a single, moment-in-time transaction, and because legacy systems are analog, digital data escapes uncaptured in the wind—

Moving from analog to digital, Evolv has transformed physical security screening using state-of-the-art sensors and AI-based software. Our systems constantly capture valuable data at this “threshold real estate” which can be mined, analyzed and used for optimizing operational efficiency.

The refinery

Screening and entry data while plentiful is just a raw resource. From our “Data is the new oil” reference, it needs to be processed and refined to derive value. Analytics helps harness the data and extract value to improve your security posture, optimize your resources (both security, general venue operations, and front of house), and ultimately create delighted customers. 

The premise that using data and analytics to optimize operational efficiency is not a quantum physics or atom splitting concept. There’s nothing new here except it’s never been applied in the physical security screening space. In fact, some say that physical security screening is the land that digital transformation forgot. Evolv Technology just unveiled an important enhancement to our Evolv Express® digital, touchless screening system, one that gives companies access to a “refined” repository of data, self-serve analytics, and dashboard tools to improve decision-making across a variety of organization functions. Introducing Evolv Insights™our powerful, SaaS-based analytics application.

By leveraging the rich data from Express and its machine learning and AI engine, Evolv Insights™ provides security and operations professionals with a single, easy-to-use, self-service dashboard to view, review, analyze and gather insights, from their screening and venue entrance. Example data types are granular 5-minute visitor arrival curves, total venue visitor counts, system detection performance, identified threat category counts and comparisons across multiple business dimensions including sites, entrance doors, event types, system detection settings, time periods and more. 

And this is just the beginning. Future integrations of additional Express sensor data, 3 party data sources, social feeds like weather, and rich venue enterprise data will expand our ability to provide more predictive and prescriptive venue relevant insights.

Data and actionable insights to optimize operations

Until now, security teams have been forced to make operational decisions based on biased judgement and anecdotal inputs, collected manually under the pressure of time. With automated data collection and actionable insights, security teams move from reactive management and intuition-led decision making, to proactive, data-informed readiness. Resulting actionable insights will empower security teams to transform security, operations, and the holistic visitor experience.

  • Simply Report on Security Performance to Leadership – Quickly review aggregated performance across the install base. This “snapshot” provides unique situational awareness and enables a holistic view of customers’ Express systems to optimize performance. This view is especially helpful when showcasing system performance to leadership teams.
  • Data-driven Improvements to Security Posture – Access individual scanner, location and detection setting comparisons. Drilling down and comparing system performance related to clear rate, visitor counts, arrival curves, and more, enables root cause analysis and inspection by event types, venue locations, individual entrances, and singular scanners.
  • Partner with Operations Teams to Deliver a Better Visitor Experience – Review the density of visitor arrivals with a color-coded heat map and correlated time-series view. Anticipated patron arrivals across seasons, weeks, days, and specific hourly trends by entrance and event type is available. Understanding these load times helps to more effectively plan staffing to provide visitors and employees with a welcoming, line-free experience.

Security seat at the table and value center

The ability for security professionals to advance a “data beats opinion stance” and to provide actionable recommendations across the enterprise will elevate the interaction and effectiveness across functions. Security equipment and leaders will no longer be viewed as a “necessary evil”, but as a coordinated and integral part of overall venue success.

If data is the new oil, analytics is the new refinery!

Evolv Technology Honored with 2021 Artificial Intelligence Product Excellence Award

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First AI-enabled Crowd Security Screening System That Can Differentiate Between Weapons and Personal Items

Evolv Technology, the leader in AI touchless security screening, today announced that Evolv Express® has been named a winner in this year’s Artificial Intelligence Excellence Awards program.

In its inaugural year, the Business Intelligence Group organized the Artificial Intelligence Excellence Awards to recognize organizations, products and people who bring artificial intelligence (AI) to the market and apply it to solve real problems. The role of AI was already transforming many aspects of our lives and culture before the COVID-19 pandemic, and now companies are escalating their reliance on AI to build new processes, launch new services or deploy the AI of strategic vendors.

As the world’s only AI-enabled touchless screening system on the market, Evolv Express uses advanced sensors and machine learning to screen for concealed weapons, differentiating weapons from personal items. Earning the top spot in the award program’s ‘automatic targeted recognition’ category, the system transforms security screening as we know it. Traditional, decades-old metal detector technology was not built to accommodate for technical advances in personal items, such as cell phones or titanium implants, or today’s increasing threats to crowds in public spaces, which are considered soft targets. Evolv Express screens ten times faster than legacy metal detectors with an unparalleled 3,600 people per hour per system at a 70% reduction in cost. 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.

“Our system reflects a fundamental rethinking of physical security in order to identify threats more effectively while improving the experience of sports fans, patrons, visitors, employees, students and staff, and others,” said Evolv Technology Co-founder and Head of Advanced Technology Michael Ellenbogen. “With Evolv’s AI-enabled software, we’re able to respond to changing customer requirements swiftly and efficiently. It’s an honor for our system to be recognized for this AI Excellence Award.”

“We’re especially proud of Evolv Chief Scientist Dr. Alec Rose and his team for driving such innovative advancements in the area of physical security,” Ellenbogen continued. “By doing so, we believe they are rewriting the standards for what’s required in providing best-in-class human security around the world.”

As the pandemic has unfolded, organizations have had to reevaluate their safety operations when it comes to addressing threats from weapons violence and health risks. In reviewing security processes, antiquated screening products and methods like metal detectors, pat downs and hand wands have become potential risk factors for re-opening ticketed venues, companies, schools and other venues. These organizations can benefit from security that provides a seamless and touchless experience. Express uses artificial intelligence software and advanced digital sensors that are highly accurate, discreet and deliver significantly more throughput than outdated, analog technologies. Importantly, the AI-enabled system allows for rapid integration of new capabilities such as analytics and thermal scanning.

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 hundreds of others. Evolv’s systems have been used to screen more than 50 million people, second only to the Department of Homeland Security’s Transportation Security Administration in screening people in the U.S.

 

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®, 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.

 

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.

 

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Jennifer Torode
jtorode@chenpr.com

Working for a Higher Purpose: Keeping People Safe

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Lincoln Center is one of the most iconic event spaces in the world, home to the Metropolitan Opera, New York Philharmonic, New York City Ballet, renowned theater spaces and much more. The facilities that comprise Lincoln Center host approximately 5 million visitors a year.

You can imagine that it was quite a feather in our cap to engage Lincoln Center who would eventually become one of the first customers for our original product, Evolv Edge®. Driving down to New York to demonstrate a prototype, Rick Abraham and I were as excited as could be. 

Unfortunately, that excitement didn’t last too long. Nothing went according to plan. Try as we might, we couldn’t get the system to work the way we knew it should. It was an early prototype. When you’re in field sales, you know that these things happen. But Rick and I were devastated. We were supposed to go on to visit other customers but, instead, we got in the car and headed back up to Boston. It was one of the longest car rides of my life. 

I can tell that story now because it has a happy ending.  The team at Lincoln Center not only stood by us, they helped us make our product better. They told us in no uncertain terms we had to make our solutions faster to get their patrons safely to their seats in time for their performances. So, we did.

They were demanding in the best ways possible and have become like family to us. Their security team includes several former members of the New York Police Department. They lost colleagues in 9/11 and, like us, have a desire to fulfill a mission that’s larger than themselves.  They were patient and helpful because they believe making the world a safer place through innovative technology is worthwhile.  Because they believed in us, we would do anything for them. There were many times I worked through the night and took a cat nap in my car, safe in their parking garage.

Listening to the Customer

Learning from customers is an important part of our mission at Evolv. Out in the field, I find that many of the people I work with share the same sense of mission, just like the team at Lincoln Center. It is one of the things that attracted me to Evolv and one of the things I love about my job. It doesn’t hurt that security tends to attract a lot of serious and smart people, and many of them also happen to have a great sense of humor.

Being on the front lines with customers, I’ve been known to come back to headquarters with a suggestion or two every once in a while. Well, maybe more than once in a while. From my perspective, I like to think the company counts on me to bring in ideas from the field—and I’m grateful to our leadership because they always listen.

I can think of many instances where feedback from the field ended up in our products. The idea of incorporating a rear camera in the Express® came from another customer where a patron voiced a complaint, with the scans from the rear camera, we were able to help resolve the dispute.

With another customer, we were trying to figure out how to get our systems into place easily and quickly. It may seem like a simple fix, but working with the customer’s specific problem, we figured out that we needed to have longer mats—and that’s the product we have today.

A Higher Purpose

From a personal standpoint, I view my own mission as doing something bigger than myself, using work as a way to achieve a higher purpose in life. My mission is to do things to help keep people safe.

Safety is a front and center problem in the world, even more so in our country with the proliferation of automatic weapons. My daughter is a schoolteacher. She has to explain to her students what’s going on when we have shootings like the recent events in Atlanta and in Boulder. The state of the world and the desire for safety touches everyone, in a personal way.

At Evolv, as we continue to grow, it’s important that we bring on all different kinds of people who are like-minded about our mission. We need an army of good people to bring our mission to the world. I used to worry a little bit, being a little bit older myself, are these new young guys and gals we’re bringing in going to make me obsolete? But the people we are bringing on are fantastic and it makes me feel great to be working with these younger folks. They are furthering our mission: To keep people safe in as many places as we can.

NewHold Investment Corp. Announces Registration Statement on Form S-4

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NEW YORK–(April 5, 2021) BUSINESS WIRE–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 current plans and operations of Evolv and potential difficulties in Evolv employee retention as a result of the transaction, (viii) the outcome of any legal proceedings that may be instituted against Evolv or against NewHold related to the Merger Agreement or the transaction, (ix) the ability to maintain the listing of NewHold’s securities on a national securities exchange, (x) 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, (xi) the ability to implement business plans, forecasts, and other expectations after the completion of the transaction, and identify and realize additional opportunities, and (xii) 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 has filed a preliminary registration statement on Form S-4 with the SEC, which includes a document that serves as a prospectus and proxy statement of NewHold, referred to as a proxy statement/prospectus. When final, 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. 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.

 

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Contacts

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

 

Whitepaper: 5 Elements You Need to Transform Physical Security

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Summary

The world has changed. Unfortunately, it is less safe rather than more so. The worldwide threat of terrorism is higher than ever. Gun ownership in the U.S. continues to rise exponentially. The number of mass killings increases each year. COVID-19 has shown that a potentially lethal disease can spread surreptitiously from person to person wherever people are gathered en masse.

The era of metal detectors for physical security is over.

Instead, security decision-makers need a solution that maximizes safety by detecting threats, (not just metal), improves user experience, and is powerfully simple—leveraging digital technologies to bring physical security into the modern age. Welcome to the most significant breakthrough in physical security in generations.

Download Now

Fill out the form to download this whitepaper to learn about the five elements that are empowering and delivering this next generation of physical security. 

eBook: Transforming Human Security

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Summary

It’s time for people to feel safe again.

Far too often, we hear about a seemingly random active shooter incident, mass shooting or soft target attack. Venues and facilities of all kinds are vulnerable—industrial workplaces, stadiums, shopping malls, airports, office buildings, nightclubs, schools—anywhere people congregate freely.

This unpredictable environment is forcing security directors and facility managers to rethink their security strategies. How do you get started? What are the key considerations you should be thinking about?

This eBook addresses these questions and defines the next generation approach to physical security that effectively balances threat detection with a positive visitor experience— traditionally, two mutually opposing goals.

Fill out the form to download the eBook to learn about transforming physical security screening into human safety by improving the visitor, student and employee experience while continuing to improve security.

In this eBook you will learn about the following:

The limitations of traditional screening technology, and the potential consequences of those limitations.

Key decisions to make when considering new screening technology.

A new approach for keeping people, whether visitors, students or employees, safe.

“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.