Company: KYIV
Filing Date: 2025-04-18
Form Type: DRS
Source: 0001213900-25-033341
Chunk: 221

Company: Kyivstar Group Ltd.
Filing Date: 2025-04-18
Form: DRS
Chunk 221
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 expect to complete the Business Combination in the third quarter of 2025. However, any delay in satisfying any conditions to the Business Combination could delay completion of the Business Combination. If the Closing has not occurred by September 30, 2025 (which date may be extended for no more than 90 days by Cohen Circle or the Seller under certain conditions), subject to certain conditions, either Cohen Circle or the Seller may terminate the Business Combination Agreement. Consideration to be Received in the Business Combination Sale Consideration At the Sale Effective Time, by virtue of the Sale and the execution of the Transfer Deed, the Seller will sell to Kyivstar Group Ltd. all of the issued and outstanding equity of VEON Holdings in exchange for (i) newly issued Kyivstar Group Ltd. Common Shares, which shall equal the Seller Share Consideration Number (which is defined as the number of the Kyivstar Group Ltd. Common Shares equal to (a) the amount of Closing Equity Value less the Seller Loan Note Consideration Amount, divided by (b) $10.35); provided that the resulting number shall be rounded down to the nearest whole number and (ii) the Seller Loan Note in the amount equal to the Seller Loan Note Consideration Amount (which is defined as the dollar amount equal to the Cash Investment Amount, which in turn is defined as the sum of (a) the PIPE Investments, plus (b) the aggregate amount of cash contained in the Trust Account immediately prior to the Closing (prior to giving effect to the SPAC Shareholder Redemption), less (c) the Aggregate SPAC Shareholder Redemption Payments Amount). Merger Consideration At the Merger Effective Time, by virtue of the Merger (i) each Cohen Circle Unit that is issued and outstanding immediately prior to the Merger Effective Time, comprised of one of the Cohen Circle’s Class A Ordinary Shares and one -thirdof one Cohen Circle Public Warrant, shall be automatically detached and the holder thereof shall be deemed to hold one Cohen Circle Class A Ordinary Share and one -thirdof one Cohen Circle Public Warrant (the “Unit Separation”); (ii) (A) 2,155,000 Cohen Circle Class B Ordinary Shares shall be surrendered by the Sponsors to Cohen Circle and such shares shall be automatically cancelled without any conversion thereof or payment or other consideration therefor (the “Forfeited Sponsor Shares”); and (B) each Cohen Circle Ordinary Share, that is issued and outstanding immediately prior to the Merger Effective Time, owned by Cohen