Sub test()
Dim i%, k%, temp$
For i = 3 To Range("B65536").End(xlUp).Row
On Error Resume Next
tablo = Split(Cells(i, 3).Value, " ")
If UBound(tablo) <> 0 Then
For k = 0 To UBound(tablo)
temp = temp & " " & Left(tablo(k), 1)
Next k
Range("H" & i).Value = Cells(i, 2).Value & temp
Else
Range("H" & i).Value = Cells(i, 2).Value & " " & Left(Cells(i, 3).Value, 1)
End If
Next i
End Sub