Company: KYIV
Filing Date: 2025-03-31
Form Type: DRS
Source: 0001213900-25-026261
Chunk: 416

Company: Kyivstar Group Ltd.
Filing Date: 2025-03-31
Form: DRS
Chunk 416
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 the balance of funds in Cohen Circle’s trust account (excluding deferred underwriting commissions and taxes payable and subject to proportionate adjustments related to Nasdaq’s 80% test). The full text of Northland’s written opinion, dated March 18, 2025, is attached as Annex H to this proxy statement / prospectus. You should read Northland’s opinion letter carefully and in its entirety for a discussion of, among other things, the scope of the review undertaken and the assumptions made, procedures followed, matters considered, and qualifications and limitations of the review undertaken by Northland in connection with its opinion. Northland’s opinion was directed to the board of directors of Cohen Circle, in its capacity as the board of directors of Cohen Circle, and addressed only (i) the fairness, from a financial point of view, to Cohen Circle of the Merger Consideration to be paid pursuant to the Business Combination Agreement and (ii) whether VEON Holdings has an aggregate fair market value equal to at least 80% of the balance of funds in Cohen Circle’s trust account (excluding deferred underwriting commissions and taxes payable and subject to proportionate adjustments related to Nasdaq’s 80% test). The Northland opinion does not constitute a recommendation as to how any shareholder of Cohen Circle should vote with respect to the approval of the Business Combination or any other matter and does not in any manner indicate the price at which Cohen Circle’s securities will trade at any time. In connection with reviewing the Business Combination and rendering its opinion, Northland has informed Cohen Circle that, among other things, it has reviewed: i)the draft of the Business Combination Agreement, dated March 14, 2025; ii)certain documents filed by Cohen Circle with the SEC, including the registration statement on Form S -1initially filed September 20, 2024, and amendments thereto, and the related Rule 424(b)(4) final prospectus filed with the SEC on October 11, 2024; iii)the Quarterly Report on Form 10 -Q, and other reports filed by Cohen Circle with the SEC pursuant to the U.S. Securities Exchange Act of 1934; iv)VEON Holdings’ financial statements for the calendar years ended December 31, 2021, 2022, and 2023; v)VEON Holdings’ draft, unaudited financial statements for the calendar year ended December 31, 2024; 238 vi)certain non -publicfinancial and business information provided to Northland