Company: KYIV
Filing Date: 2025-03-31
Form Type: DRS
Source: 0001213900-25-026261
Chunk: 258

Company: Kyivstar Group Ltd.
Filing Date: 2025-03-31
Form: DRS
Chunk 258
---
 3 Pro Forma Significant Assumptions 3.1 Available Cash as of Closing Pursuant to Business Combination Agreement, the Minimum Cash Condition (including the aggregate amount of cash available in the Trust Account as of Closing after taking into account all public shareholder redemptions as of Closing and any equity or debt financing, including any PIPE Investment, is at least $50 million. For purposes of the unaudited pro forma condensed combined financial information, management prepared the following scenarios1, 2 and 3 under the assumption that the parties will use commercially reasonable efforts to ensure that the Minimum Cash Condition as of Closing equals or exceeds $50 million. 3.2 Minimum Equity holding Pursuant to Section 8.2(f) of the Business Combination Agreement, the number of PubCo Common Shares to be issued to the Seller in consideration of the Business Combination shall not be less than 80% of the fully diluted share capital of PubCo. 3.3 Redemption scenarios The unaudited pro forma condensed combined financial information has been prepared assuming three redemption scenarios, as follows: • Scenario 1— Assuming no redemptions: this scenario assumes that none of the Cohen Circle shareholders exercise their rights to redeem any of their Cohen Circle Class A Ordinary Shares in connection with the Business Combination for a pro rata portion of the funds in the Trust Account. Thus, this scenario assumes that the approximately $ million held in the Trust Account in the unaudited pro forma condensed combined statement of financial position as of December31, 2024, were available at Closing; • Scenario 2— Assuming 50% redemptions: this scenario assumes that Public Shareholders elect to redeem 11,500,000 Cohen Circle Class A Ordinary Shares at a per share redemption price of approximately $10.35. • Scenario 3— Assuming maximum redemptions: this scenario assumes that the Public Shareholders elect to redeem 18,169,082 Cohen Circle Class A Ordinary Shares at a per share redemption price of approximately $10.35, so that there will be at least $50 million in the Cohen Circle Trust Account at Closing. The Assuming Maximum Redemptions scenario and the Assuming 50% Redemptions scenario includes all adjustments contained in the Assuming No Redemptions scenario and presents additional adjustments to reflect the effect of the maximum redemptions and the mid -pointbetween the no redemption and maximum redemptions, respectively. The foregoing three scenarios are for illustrative purposes only, as the actual number of redemptions by Cohen Circle’s Public