Company: KYIV
Filing Date: 2025-03-31
Form Type: DRS
Source: 0001213900-25-026261
Chunk: 203

Company: Kyivstar Group Ltd.
Filing Date: 2025-03-31
Form: DRS
Chunk 203
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 SPAC, can satisfy the “continuity of business enterprise” requirement under Section 368 of the Code. In addition, reorganization treatment could be adversely affected by events or actions that occur prior to or at the time of the Merger, some of which are outside the control of SPAC. For example, the requirements for reorganization treatment could be affected by the magnitude of redemptions of Cohen Circle Class A Ordinary Shares that occur in connection with the Merger. There can be no assurance that the Merger qualifies as a reorganization under Section 368 of the Code. U.S. holders should consult their tax advisers regarding the potential qualification of the Merger as a reorganization for U.S. federal income tax purposes. The remainder of this discussion assumes that the Merger, together with the Sale and, to the extent relevant, any PIPE Investments, will qualify as a transaction described in Section 351(a) of the Code. U.S. holders should consult their tax advisers regarding the characterization of the Transactions for U.S. federal income tax purposes. U.S. holders exchanging Cohen Circle Class A Ordinary Shares for Kyivstar Group Ltd. Common Shares A U.S. holder that exchanges only Cohen Circle Class A Ordinary Shares in the Merger for Kyivstar Group Ltd. Common Shares generally should not recognize any gain or loss on such exchange. In such case, the aggregate adjusted tax basis of the Kyivstar Group Ltd. Common Shares received in the Merger by a U.S. holder should be equal to the adjusted tax basis of the Cohen Circle Class A Ordinary Shares surrendered in the Merger in exchange therefor. The holding period of the Kyivstar Group Ltd. Common Shares should include the holding period of the Cohen Circle Class A Ordinary Shares surrendered in the Merger in exchange therefor. U.S. holders whose Cohen Circle Public Warrants become Kyivstar Group Ltd. Warrants A U.S. holder that owns only Cohen Circle Public Warrants but not Cohen Circle Class A Ordinary Shares and whose Cohen Circle Public Warrants convert into Kyivstar Group Ltd. Warrants should be treated as exchanging such Cohen Circle Public Warrants for “new” warrants. If so treated, a U.S. holder generally should be required to recognize gain or loss in such deemed exchange in an amount equal to the difference between the fair market value of the Kyivstar Group Ltd. Warrants held by it immediately following the Merger and the adjusted tax basis of the Cohen Circle Public 86 Warrants held by it immediately prior to the Mer