Company: KYIV
Filing Date: 2025-04-18
Form Type: DRS
Source: 0001213900-25-033341
Chunk: 157

Company: Kyivstar Group Ltd.
Filing Date: 2025-04-18
Form: DRS
Chunk 157
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 Business Combination. Satisfying the conditions to, and completion of, the Business Combination may take longer than, and could cost more than, Cohen Circle or VEON expects. Any delay in completing or any additional conditions imposed in order to complete the Business Combination may materially adversely affect the benefits that Cohen Circle expects to achieve from the Business Combination. If the Business Combination is not completed, Cohen Circle may not be able to complete another business combination on terms that would produce value for Cohen Circle shareholders , or at all . Many potential target business with which Cohen Circle enters into negotiations concerning an initial business combination will be aware that, unless Cohen Circle amends its charter to extend its life and amend certain other agreements it has entered into, then Cohen Circle must complete its initial business combination by October 10, 2026. Consequently, if Cohen Circle is unable to complete the Business Combination, a potential target business may obtain leverage over it in negotiating an initial business combination, knowing that if Cohen Circle does not complete its initial business combination with that particular target business, it may be unable to complete its initial business combination with any target business. This risk will increase as Cohen Circle gets closer to the timeframe described above. In addition, Cohen Circle may have limited time to conduct due diligence and may enter into its initial business combination on terms that it would have rejected upon a more comprehensive investigation. Additionally, Cohen Circle may have insufficient working capital to continue efforts to pursue a business combination. 58 Termination of the Business Combination Agreement could negatively impact Cohen Circle , Kyivstar and VEON. If the Business Combination is not completed for any reason, including as a result of Cohen Circle’s shareholders declining to approve the proposals required to effect the Business Combination, the ongoing businesses of Cohen Circle and VEON may be adversely impacted and, without realizing any of the anticipated benefits of completing the Business Combination, Cohen Circle and VEON would be subject to a number of risks, including the following: •Cohen Circle or VEON may experience negative reactions from the financial markets, including negative impacts on the price of Cohen Circle’s securities (including to the extent that the current market price reflects a market assumption that the Business Combination will be completed); •Kyivstar may experience negative reactions from its customers, vendors and employees; •Cohen Circle and VEON will have incurred substantial expenses and will be required to pay certain costs relating to the Business Combination, whether or not the Business Combination is completed; and •since the Business Combination Agreement restricts the conduct of Cohen Circle’s and Kyivstar’s businesses