(Samir Hussein/WireImage)It’s a prince! On Monday, the world welcomed the newest addition to the royal family and thefuture heir to England’s throne. Palace officials confirmed the arrival of His Royal Highness the Prince of Cambridge, born at St. Mary’s Hospital at 4:24 PM BST, and weighing 8 lbs 6 oz..

“Her Royal Highness and her child are both doing well and will remain in hospital overnight,” palace officials stated in an official press release. Prince William was present at the birth of his first child. The name of his firstborn son will be released “in due course.”

In the meantime, officials are preparing to post the news to the forecourt at Buckingham Palace this evening, as is royal custom.

“The Queen, The Duke of Edinburgh, The Prince of Wales, The Duchess of Cornwall, Prince Harry and members of both families have been informed and are delighted with the news,” according to the brief statement emailed to members of the press, many of whom have been camped outside of St. Marys Hospital for days. 

Prince Charles expounded on the emotional moment in history, in a statement released through Clarence House. He said he is “enormously proud and happy to be a grandfather for the first time.”

“Both my wife and I are overjoyed at the arrival of my first grandchild,” he added. “It is an incredibly special moment for William and Catherine and we are so thrilled for them on the birth of their baby boy.”

The birth marks a new era for not only the first-time parents but also the extended royal family. As third in line to succeed the throne after his grandfather Prince Charles and his father, Prince William, he’s the first baby born under new succession laws.