Company: KYIV
Filing Date: 2025-07-17
Form Type: F-4/A
Source: 0001213900-25-064873
Chunk: 450

Company: Kyivstar Group Ltd.
Filing Date: 2025-07-17
Form: F-4/A
Chunk 450
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 opportunity to redeem their public shares in connection with the Transaction and (iv) shares of our common stock held by our officers, directors and other initial stockholders are subject to transfer restrictions following the Transaction. See the sections entitled “— Additional Agreements”and “Description of Securities — Founder Shares”for a description of these transfer restrictions. The Cohen Circle Board concluded that the potential benefits that it expected Cohen Circle and its public stockholders to achieve as a result of the Business Combination outweighed the potentially negative and other factors associated with the Business Combination. Accordingly, the Cohen Circle Board unanimously, among those voting, determined that the Business Combination and the transactions contemplated by the Merger Agreement, were advisable and in the best interests of Cohen Circle and its stockholders. Summary of Valuation Analysis and Opinions of Financial Advisor to the Cohen Circle Board and Holders of Cohen Circle Class A Ordinary Shares Fairness Opinion of Northland The board of directors of Cohen Circle retained Northland to provide a fairness opinion in connection with the Business Combination. The board of directors of Cohen Circle decided to obtain such fairness opinion to determine (i) the fairness, from a financial point of view, to us of the Merger Consideration under 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 our trust account (excluding deferred underwriting commissions and taxes payable and subject to proportionate adjustments related to Nasdaq’s 80% test). In selecting Northland, the board of directors of Cohen Circle considered, among other things, Northland’s qualifications, expertise, and reputation, as well as Northland’s knowledge of Cohen Circle and VEON Holdings, the businesses of Cohen Circle and VEON Holdings, and the industries in which Cohen Circle and VEON Holdings operate. On March 18, 2025, Northland rendered its opinion to the board of directors of Cohen Circle, stating that, as of March 18, 2025, and subject to and based on and assumptions made, procedures followed, matters considered, limitations of the review undertaken and qualifications set forth therein, (i) the Merger Consideration to be paid under the Business Combination Agreement is fair, from a financial point of view, to Cohen Circle and (ii) 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