Company: KYIV
Filing Date: 2025-06-05
Form Type: F-4
Source: 0001213900-25-051575
Chunk: 73

Company: Kyivstar Group Ltd.
Filing Date: 2025-06-05
Form: F-4
Chunk 73
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 to finance transaction costs in connection with an initial business combination |
|                                                              |     | Up to $2,000,000 promissory note, which is not convertible                                                                                    |     | Working capital loans to finance transaction costs in connection with an initial business combination |
|                                                              |     | Reimbursement for any out-of-pocket expenses related to identifying, investigating and completing an initial business combination             |     | Services in connection with identifying, investigating and completing an initial business combination |

____________ (1)The Sponsors paid an aggregate of $25,000 for 7,905,000 Cohen Circle Class B Ordinary Shares. In connection with the Closing, 2,155,000 Cohen Circle Class B Ordinary Shares held by the Sponsors will be surrendered to Cohen Circle and such shares shall be automatically cancelled without any conversion thereof or payment or other consideration therefor. The reimbursements to be paid to the Sponsors and their respective directors, officers and affiliates (if any), the compensation paid to the Sponsors for office space, utilities and shared personnel support services pursuant to the administrative services agreement and the repayment of working capital loans made by the Sponsors to the SPAC and/or the conversion of such working capital loans into Kyivstar Group Ltd. Common Shares may result in a material dilution to the equity interests of non -redeemingCohen Circle shareholders. Interests of Others in the Business Combination VEON Ltd. and the Seller and their respective directors and executive officers may have interests in the Business Combination that may be different from, or in addition to, the interest of Cohen Circle’s shareholders and Cohen Circle’s warrant holders generally. These interests include, among other things: (i)VEON Ltd., through the Seller, owns 100% of VEON Holdings and the Ukrainian Subsidiaries. Following the Closing, the Seller will receive Kyivstar Group Ltd. Common Shares to be issued and allotted by Kyivstar Group Ltd. on the Closing Date. VEON Ltd. and the Seller thus are expected to have control over Kyivstar Group Ltd., VEON Holdings and the Ukrainian Subsidiaries following the Closing of the Business Combination. See “ Risk Factors— Risks Related to our Relationship with VEON” for further information on how VEON Ltd. may exert its influence.

10 (ii)Certain members of VEON Ltd.’s board and senior management, including, will become directors and officers of Kyivstar Group Ltd.’s board of directors. For additional information on the proposed composition of Kyivstar Group Ltd