Company: KYIV
Filing Date: 2025-06-05
Form Type: F-4
Source: 0001213900-25-051575
Chunk: 368

Company: Kyivstar Group Ltd.
Filing Date: 2025-06-05
Form: F-4
Chunk 368
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 outside the Trust Account. In the event that a Business Combination does not close, Cohen Circle may use a portion of proceeds held outside the Trust Account to repay the Working Capital Loans but no proceeds held in the Trust Account would be used to repay the Working Capital Loans. The Working Capital Loans would either be repaid upon consummation of a Business Combination, without interest, or, at the lender’s discretion, up to $2,000,000 of such Working Capital Loans may be convertible into units upon consummation of the Business Combination at a price of $10.00 per unit. The units would be identical to the Placement Units. On April2, 2025, Cohen Circle issued a promissory note to Cohen Circle Sponsor I, LLC for up to an aggregate principal amount of $2,000,000. The promissory note is non -interestbearing and all outstanding amounts under the promissory note will be due on the Closing Date. No portion of the amounts outstanding under the promissory note may be converted into units of Cohen Circle. 196 If the estimate of the costs of identifying a target business, undertaking in -depthdue diligence and negotiating a Business Combination are less than the actual amount necessary to do so, Cohen Circle may have insufficient funds available to operate its business prior to the Business Combination. Moreover, Cohen Circle may need to obtain additional financing either to complete the Business Combination or because it became obligated to redeem a significant number of the Class A ordinary shares included in the Units upon consummation of its Business Combination, in which case Cohen Circle may issue additional securities or incur debt in connection with such Business Combination. Going Concern As of March31, 2025, Cohen Circle had cash of $80,019 held outside of the Trust Account and a working capital deficit of $1,380,563. Cohen Circle will use such funds held outside the Trust Account primarily to identify and evaluate target businesses, perform business due diligence on prospective target businesses, travel to and from the offices, plants or similar locations of prospective target businesses or their representatives or owners, review corporate documents and material agreements of prospective target businesses, and structure, negotiate and complete a Business Combination. In connection with Cohen Circle’s assessment of going concern considerations in accordance with ASC 205 -40, Going Concern, as of March31, 2025, Cohen Circle may need to raise additional capital through loans or additional investments from its Sponsor. The Sponsor or an affiliate of the Sponsor has committed to loan Cohen Circle up to $250,000 and