Company: KYIV
Filing Date: 2025-07-10
Form Type: F-4/A
Source: 0001213900-25-062760
Chunk: 520

Company: Kyivstar Group Ltd.
Filing Date: 2025-07-10
Form: F-4/A
Chunk 520
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 the balance sheets are reconciled in the following table:

| Gross proceeds                                                            |     | $ | 230,000,000 |   |
| Less:                                                                     |     |   |             |   |
| Proceeds allocated to Public Warrants                                     |     |   |  (1,303,333 | ) |
| Class A ordinary shares issuance costs                                    |     |   | (14,275,329 | ) |
| Plus:                                                                     |     |   |             |   |
| Remeasurement of carrying value to redemption value                       |     |   |  18,947,909 |   |
| Class A Ordinary Shares subject to possible redemption, December 31, 2024 |     | $ | 233,369,247 |   |
| Plus:                                                                     |     |   |             |   |
| Remeasurement of carrying value to redemption value                       |     |   |   2,443,761 |   |
| Class A Ordinary Shares subject to possible redemption, March 31, 2025    |     | $ | 235,813,008 |   |

Net Income (Loss) per Ordinary Share The Company complies with accounting and disclosure requirements of FASB ASC Topic 260, “Earnings Per Share.” Income and losses are shared pro rata to the shares. Net income (loss) per Ordinary Share is computed by dividing net income (loss) by the weighted average number of Ordinary Shares outstanding for the period. Accretion associated with the redeemable Ordinary Shares is excluded from net income (loss) per Ordinary Share as the redemption value approximates fair value. The calculation of diluted income (loss) per Ordinary Share does not consider the effect of the Warrants issued in connection with the (i) Initial Public Offering, (ii) the exercise of the over -allotmentoption and (iii) Private Placement, since the average price of the Ordinary Shares for the three months ended March 31, 2025 was less than the exercise price and therefore, the inclusion of such Warrants under the Treasury stock method would be anti -dilutiveand the exercise is contingent upon the occurrence of future events.

F-32

COHEN CIRCLE ACQUISITION CORP. I
NOTES TO CONDENSED FINANCIAL STATEMENTS
MARCH 31, 2025 (Unaudited) NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES (cont.)

| Basic and diluted net income (loss) per