Company: KYIV
Filing Date: 2025-03-31
Form Type: DRS
Source: 0001213900-25-026261
Chunk: 254

Company: Kyivstar Group Ltd.
Filing Date: 2025-03-31
Form: DRS
Chunk 254
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 -basedpayment expense. The consideration for the acquisition of Cohen Circle was determined using the closing prices of Cohen Circle’s publicly traded Cohen Circle Class A Ordinary Shares and the Public Warrants traded on Nasdaq under the ticker symbols “CCIR” and “CCIRW”, each as of , 2025. Accordingly, the combined financial statements of VEON Holdings B.V. will become the historical financial statements of PubCo; the assets, liabilities, and results of operations of Cohen Circle will be consolidated with PubCo beginning on the day of Closing. For accounting purposes, the financial statements of PubCo will represent a continuation of the combined financial statements of VEON Holdings Operations prior to the transaction will be presented as those of VEON Holdings in future reports of PubCo. Any subscription agreements related to a PIPE investment, which, if applicable, would be expected to be executed prior to the Closing and would be expected to close concurrently with the Closing, will result in the issuance of PubCo Common Shares, leading to an increase in subscribed capital and capital reserves. As of the date of this proxy statement/prospectus, no amounts have been committed under any PIPE investment. The unaudited pro forma condensed combined statement of financial position as of December 31, 2024 gives pro forma effect to the Business Combination as if it had been consummated as of December 31, 2024. The unaudited pro forma condensed combined income statement for the year ended December 31, 2024 gives pro forma effect to the Business Combination as if it had been consummated as if it had occurred on January 1, 2024, the beginning of the earliest period presented. This information should be read together with the audited historical combined financial statements of VEON Holdings, and the audited historical financial statements of Cohen Circle, including the respective notes thereto and other financial information included elsewhere in this proxy statement/prospectus. The unaudited pro forma condensed combined financial information does not purport to project the future financial position or operating results of PubCo following the Business Combination. The unaudited pro forma adjustments represent management’s estimates based on information currently available as of the date of these unaudited pro forma condensed combined financial statements and are subject to change as additional information becomes available and analyses are performed. The assumptions and estimates underlying the unaudited pro forma adjustments are described in the accompanying notes. Actual amounts as of the date of the consummation of the Business Combination might differ from the pro forma amounts presented in the unaud