Company: KYIV
Filing Date: 2025-04-18
Form Type: DRS
Source: 0001213900-25-033341
Chunk: 198

Company: Kyivstar Group Ltd.
Filing Date: 2025-04-18
Form: DRS
Chunk 198
---
. 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 81 Warrants held by it immediately prior to the Merger. A U.S. holder’s tax basis in Kyivstar Group Ltd. Warrants received in the Merger will equal the fair market value of such Kyivstar Group Ltd. Warrants. A U.S. holder’s holding period in such U.S. holder’s Kyivstar Group Ltd. Warrants should begin on the day after the Merger. If the deemed transfer of Cohen Circle Public Warrants also qualifies as part of a “reorganization” within the meaning of Section 368 of the Code, a U.S. holder of Cohen Circle Public Warrants generally should not recognize any gain or loss on any such deemed transfer of Cohen Circle Public Warrants, and such U.S. holder’s basis and holding in the Cohen Circle Public Warrants deemed received should be equal to the U.S. holder’s basis and holding period in the Cohen Circle Public Warrants deemed transferred in the Merger. U.S. holders of Cohen Circle Public Warrants are urged to consult with their tax advisors regarding the treatment of their Cohen Circle Public Warrants in connection with the Merger. U.S. holders exchanging Cohen Circle Class A Ordinary Shares and Cohen Circle Public Warrants for Kyivstar Group Ltd. Common Shares and Kyivstar Group Ltd. Warrants A U.S. holder that receives Kyivstar Group Ltd. Common Shares in exchange for such U.S. holder’s Cohen Circle Class A Ordinary Shares and whose Cohen Circle Public Warrants convert to Kyivstar Group Ltd. Warrants in the Merger generally should recognize gain (if any) with respect to such Cohen Circle Class A Ordinary Shares and Cohen Circle Public Warrants held immediately prior to the Merger in an amount equal to the lesser of (i) the excess (if any) of the fair market value of such Kyivstar Group Ltd. Common Shares and Kyivstar Group Ltd. Warrants over such U.S. holder’s tax basis in such Cohen Circle Class A Ordinary Shares and Cohen Circle Public Warrants or (ii) the fair market value of such Cohen Circle Public Warrants. Any loss realized by a U.S. holder should not be recognized. Gain, if any, described in the