Company: KG
Filing Date: 2025-03-10
Form Type: S-4
Source: 0001104659-25-021993
Chunk: 211

Company: Kestrel Group Ltd
Filing Date: 2025-03-10
Form: S-4
Chunk 211
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 to be issued in the second merger have been approved for listing on the Nasdaq, subject to official notice of issuance; and

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execution and delivery at the closing of the amended and restated option agreement by AmTrust in order for such agreement to be in full force and effect as of the second merger effective time.

Conditions to Maiden’s, US NewCo’s, Bermuda NewCo’s and the Mergers Subs’ Obligation to Complete the Transaction

The obligations of Maiden, US NewCo, Bermuda NewCo and the Merger Subs to effect the transaction are subject to the satisfaction (or waiver by Maiden, if permissible under applicable law) on or prior to the date of the closing of the following conditions:

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the representation and warranty of Kestrel set forth in the combination agreement with respect to the absence of any effect, change, circumstance or event since December 31, 2023 that would (i) have a Kestrel material adverse effect or (ii) reasonably be expected to prevent or materially impair the ability of Kestrel to perform its obligations under the combination agreement or to consummate the transactions contemplated by the combination agreement is true and correct in all respects as of the date of the combination agreement and as of the date of the closing as though made as of such date;

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the representations and warranties of the Kestrel equityholders set forth in the combination agreement with respect to (a) due organization, good standing and authority to consummate the transaction, (b) due authorization, (c) title to the Kestrel units and (d) the absence of any broker or finder fees, and the representations and warranties of Kestrel set forth in the combination agreement with respect to (i) the due organization, good standing and authority to carry on its business as currently conducted of Kestrel, (ii) capitalization of Kestrel, (iii) due authorization and (iv) the absence of any broker or finder fees except for the fees payable to Evercore, in each case, are true and correct in all material respects as of the date of the combination agreement and as of the date of the closing as though made as of such date (except to the extent expressly made as of an earlier date, in which case as of such date);

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all other representations and warranties of Kestrel set forth in the combination agreement are true and correct in all respects (disregarding all qualifications or limitations as materiality or material

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