Company: KG
Filing Date: 2025-03-24
Form Type: S-4/A
Source: 0001104659-25-027242
Chunk: 49

Company: Kestrel Group Ltd
Filing Date: 2025-03-24
Form: S-4/A
Chunk 49
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|
| Cash and cash equivalents                        | ​    | ​ | ​            | $ | 4,286 | ​ | ​    | ​ | ​ | $ | 5,553 | ​ | ​ |
| Total assets                                     | ​    | ​ | ​            | ​ | 4,697 | ​ | ​    | ​ | ​ | ​ | 5,883 | ​ | ​ |
| Total liabilities                                | ​    | ​ | ​            | ​ |   905 | ​ | ​    | ​ | ​ | ​ | 2,474 | ​ | ​ |
| Total members’ equity                            | ​    | ​ | ​            | ​ | 3,792 | ​ | ​    | ​ | ​ | ​ | 3,408 | ​ | ​ |

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TABLE OF CONTENTS

### SELECTED UNAUDITED PRO FORMA COMBINED FINANCIAL INFORMATION
The following selected unaudited pro forma condensed consolidated combined financial information is provided to aid you in your analysis of the financial aspects of the transaction. The unaudited pro forma condensed consolidated combined financial information is based on the Maiden historical consolidated financial statements and the Kestrel historical consolidated financial statements as adjusted to give effect to the transaction. The unaudited pro forma condensed consolidated combined balance sheet data gives pro forma effect to the transaction as if it had been consummated on December 31, 2024. The unaudited pro forma condensed consolidated combined statement of operations data for the year ended December 31, 2024 gives effect to the transaction as if it had been consummated on January 1, 2024.

The selected unaudited pro forma condensed consolidated combined financial information has been derived from and should be read in conjunction with:

•

the accompanying notes to the unaudited pro forma condensed consolidated combined financial statements;

•

the historical audited consolidated financial statements of Kestrel as of and for the years ended December 31, 2024 and 2023, and the related notes, included elsewhere in this proxy statement/ prospectus;

•

the historical audited consolidated financial statements of Maiden as of and for the years ended December 31, 2024 and 2023, and the related notes, incorporated by reference into this proxy statement/ prospectus; and

•

the other information relating to Kestrel and Maiden included elsewhere in this proxy statement/ prospectus.

The selected unaudited pro forma condensed consolidated combined financial information is provided for illustrative purposes only and