Company: KG
Filing Date: 2025-08-15
Form Type: 8-K/A
Source: 0001104659-25-078918
Chunk: 2

Company: Kestrel Group Ltd
Filing Date: 2025-08-15
Form: 8-K/A
Chunk 2
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 in its entirety by reference to the combination agreement and other agreements relating to this combination, copies of
which were filed as exhibits to the Prior 8-K and are incorporated by reference into this Amendment. The required historical financial
statements of Kestrel and the related pro forma financial information are contained herein under Item 9.01 of this Amendment.

Item 9.01 Financial Statement and Exhibits.

| (a) Financial Statements of Business Acquired. |

The unaudited condensed consolidated financial
statements as of and for the three-month period ended March 31, 2025 and 2024 and the historical audited restated consolidated financial
statements of Kestrel for the years ended December 31, 2024 and 2023, are attached hereto as Exhibit 99.1.

| (b) Pro Forma Financial Information. |

The unaudited pro forma condensed consolidated
combined financial statements of as of and for the three-month period ended March 31, 2025 and for the year ended December 31, 2024 and
the unaudited pro forma condensed consolidated combined financial statements of as of December 31, 2024 and for the year ended December
31, 2024, giving effect to the combination as if it had occurred on January 1, 2024, are attached hereto as Exhibit 99.2

| (d) Exhibits |

The following exhibits are filed herewith:

| Exhibit No. 
 (23.1)      
 (99.1)      
 (99.2)      | Description                                                                                                                                                                                                                                                                                                               
 Consent of Frazier & Deeter LLP.                                                                                                                                                                                                                                                                                          
 Unaudited condensed consolidated financial statements as of and for                                                                                                                                                                                                                                                       
 the three-month period ended March 31, 2025 and 2024 and the historical audited restated consolidated financial statements of Kestrel                                                                                                                                                                                     
 for the years ended December 31, 2024 and 2023.                                                                                                                                                                                                                                                                           
 Unaudited pro forma condensed consolidated combined financial statements of as of and for the three-month period ended March 31, 2025 and for the year ended December 31, 2024 and unaudited pro forma condensed consolidated combined financial statements  as of and for the year ended December 31, 2024 (As Revised). |
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| (104)       | Cover Page Interactive Data File, formatted in Inline XBRL                                                                                                                                                                                                                                                                |

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