Company: KYIV
Filing Date: 2025-06-05
Form Type: F-4
Source: 0001213900-25-051575
Chunk: 366

Company: Kyivstar Group Ltd.
Filing Date: 2025-06-05
Form: F-4
Chunk 366
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 directly and solely held by PubCo, and the Surviving Company will become a direct wholly owned subsidiary of PubCo. The Business Combination will be consummated subject to the deliverables and provisions as further described in the Business Combination Agreement. Results of Operations Cohen Circle has neither engaged in any operations nor generated any revenues to date. Cohen Circle’s only activities from October 26, 2021 (inception) through March 31, 2025 were organizational activities and those necessary to prepare for the Initial Public Offering, described below. Cohen Circle does not expect to generate any operating revenues until after the completion of the Business Combination. Subsequent to the Initial Public Offering, Cohen Circle generates non -operatingincome in the form of interest income on marketable securities held in the trust account (the “Trust Account”). Cohen Circle incurs expenses as a result of being a public company (for legal, financial reporting, accounting and auditing compliance), as well as for due diligence expenses. 195 For the three months ended March31, 2025, Cohen Circle had a net income of $238,844, which consisted of interest earned on marketable securities held in Trust Account of $2,443,761, offset by general and administrative costs of $2,204,917. For the three months ended March31, 2024, Cohen Circle had a net loss of $5,168, which consisted of general and administrative costs. For the year ended December 31, 2024, Cohen Circle had a net income of $2,105,923, which consisted of interest earned on marketable securities held in Trust Account of $2,219,247, offset by general and administrative costs of $113,324. For the year ended December31, 2023, Cohen Circle had a net loss of $377,628 which consisted of general and administrative costs. Liquidity and Capital Resources Until the consummation of the Initial Public Offering, Cohen Circle’s only source of liquidity was an initial purchase of shares of Class B Ordinary Shares, par value $0.0001 per share, by the Sponsor and loans from the Sponsor. On October 15, 2024, Cohen Circle consummated the Initial Public Offering of 23,000,000 units at $10.00 per Unit, generating gross proceeds of $230,000,000. Simultaneously with the closing of the Initial Public Offering, Cohen Circle consummated the sale of an aggregate of 715,000 Placement Units at a price of $