Company: KYIV
Filing Date: 2025-07-17
Form Type: F-4/A
Source: 0001213900-25-064873
Chunk: 446

Company: Kyivstar Group Ltd.
Filing Date: 2025-07-17
Form: F-4/A
Chunk 446
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 of assisting Cohen Circle with wall -crossingprocedures, and not in any advisory capacity. In July 2025, Kyivstar Group Ltd., Rothschild & Co and BTIG, LLC continued to negotiate with certain prospective investors with respect to the terms of potential investments, including on the size of the potential investments, as well as the terms of potential non -redemptionagreements. On July10, 2025, Cohen Circle and Kyivstar Group Ltd. finalized the terms of and entered into Non -RedemptionAgreements with the Non -RedeemingShareholders. On July10, 2025, Cohen Circle, VEON Holdings and certain other parties thereto finalized and executed an amendment to the Business Combination Agreement to adjust the number of Kyivstar Group Ltd. Common Shares allocable to each of VEON Amsterdam B.V. and the Sponsor in connection with the Closing of the Business Combination. On July10, 2025, Cohen Circle, Cantor, Kyivstar Group Ltd. and VEON Amsterdam B.V. finalized and executed an amendment to the Sponsor Agreement to conform its terms to the reduced number of Kyivstar Group Ltd. Common Shares allocable to the Sponsor in connection with the related amendment to the Business Combination Agreement. Reasons for Cohen Circle Board’s Approval of the Business Combination The Cohen Circle Board met telephonically on March 15, 2025 to, among other things, discuss a potential business combination with VEON Holdings, and, unanimously determined that the Business Combination Agreement, the Business Combination and the transactions contemplated thereby are advisable and in the best interest of Cohen Circle and its shareholders and resolved to recommend that Cohen Circle’s shareholders vote to adopt and approve the Business Combination and the Business Combination Agreement and the transactions contemplated thereby. In making its decision, the Cohen Circle Board considered a range of factors, including, but not limited to, the factors discussed below. Prior to reaching the decision to approve the Business Combination Agreement, the Cohen Circle Board consulted with management, as well as with its legal and financial advisors. In making its determination with respect to the Transaction, the Cohen Circle Board also considered the financial analysis undertaken by Northland, its financial advisor in connection with the Transaction. Northland presented to the Cohen Circle Board its written opinion dated March 18, 2025, which we refer to as the Fairness Opinion, as to (i) the fairness, from a financial point of view, to Cohen Circle and its unaffiliated public stockholders of the consideration paid by VEON Holdings