Company: KYIV
Filing Date: 2025-03-31
Form Type: DRS
Source: 0001213900-25-026261
Chunk: 183

Company: Kyivstar Group Ltd.
Filing Date: 2025-03-31
Form: DRS
Chunk 183
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 harm Kyivstar Group Ltd.’s business, operating results and financial condition. If Kyivstar Group Ltd. incurs debt, the debt holders could have rights senior to holders of Kyivstar Group Ltd. Common Shares to make claims on Kyivstar Group Ltd.’s assets. The terms of any debt could restrict Kyivstar Group Ltd.’s operations, including its ability to pay dividends on Kyivstar Group Ltd. Common Shares. As a result, Kyivstar Group Ltd. shareholders bear the risk of future issuances of debt securities reducing the value of Kyivstar Group Ltd. Common Shares. 73 Risks R elated to the Business Combination Agreement We have a minimum available cash condition, which may make it more difficult for us to complete the Business Combination as currently contemplated. The Business Combination Agreement provides that the obligation to consummate the Business Combination is conditioned on, among other things, that as of the Closing Date, the amount of cash in the Trust Account (net of the aggregate amount of cash required to satisfy any exercise by Cohen Circle shareholders of their right to have Cohen Circle redeem their Cohen Circle Class A Ordinary Shares in connection with the Business Combination) together with the proceeds from certain debt financing obtained prior to the Closing Date, any PIPE Investment, and any other equity or debt financing obtained on or prior to the Closing Date be equal to or exceed $50.0 million (“Minimum Cash Amount”). If the Minimum Cash Amount is not satisfied, there can be no assurance that Cohen Circle and the Seller (the parties that have a right to waive the Minimum Cash Amount pursuant to the terms of the Business Combination Agreement) would waive the Minimum Cash Amount and both such parties must agree to waive such condition in writing in order for the Minimum Cash Amount to be waived. If such condition is neither met nor waived pursuant to the terms of the Business Combination Agreement, then the proposed Business Combination Agreement would not be consummated. Kyivstar will be subject to business uncertainties and contractual restrictions while the Business Combination is pending. Kyivstar is subject to contractual restrictions while the Business Combination is pending. The Business Combination Agreement restricts Kyivstar from making certain expenditures and taking other specified actions without the consent of Cohen Circle until the Business Combination occurs. These restrictions may prevent Kyivstar from pursuing certain business opportunities prior to the completion of the Business Combination. See the section entitled “ The Business Combination Agreement — Covenants.” Cohen Circle and the Kyivstar will incur transaction costs in connection with the Business Combination. Each of Cohen Circle and Ky