Company: KYIV
Filing Date: 2025-06-24
Form Type: F-4/A
Source: 0001213900-25-057315
Chunk: 185

Company: Kyivstar Group Ltd.
Filing Date: 2025-06-24
Form: F-4/A
Chunk 185
---
 the Closing Date be equal to or exceed $50.0 million (the “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. Cohen Circle and the Seller may each elect to waive the Minimum Cash Amount condition for any number of reasons, including to facilitate the consummation of the Business Combination. 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, absent consent from Cohen Circle, 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 and Transaction Documents — Conduct of Business Pending Consummation of the Business Combination and Covenants.” Risks Related to Taxation There may be U.S. federal income tax consequences of the Business Combination that may adversely affect holders of Cohen Circle Ordinary Shares or Cohen Circle Warrants. Although it is intended for the Merger to qualify as a tax -freeexchange for U.S. federal income tax purposes as described in Section 351(a) of the U.S. Internal Revenue Code of 1986, as amended (the “Code”), the requirements for tax -freetreatment are complex and qualification for such treatment could be adversely affected by events or actions that occur following the Business Combination that are beyond the Cohen Circle’s control. There can be no assurance that the U.S. Internal Revenue Service will not disagree with or challenge the intended characterization of the transaction for U.S. federal income tax purposes. To the extent the Merger does not so qualify, it could result in the imposition of substantial taxes on holders of Cohen Circle Ordinary Shares and Cohen Circle Warrants. It is unclear whether the Merger, in addition to qualifying as an exchange described in Section 351(a) of the Code, will also qualify as a “reorganization” under Section 368 of the Code