Company: KYIV
Filing Date: 2025-03-31
Form Type: DRS
Source: 0001213900-25-026261
Chunk: 5

Company: Kyivstar Group Ltd.
Filing Date: 2025-03-31
Form: DRS
Chunk 5
---
 prior to the Merger Effective Time, whether or not vested, including the Cohen Circle Public Warrants held as a result of the Unit Separation described in clause (A) above, shall convert into a Kyivstar Group Ltd. Public Warrant to purchase Kyivstar Group Ltd. Common Shares, and each Cohen Circle Private Placement Warrant will be cancelled for no consideration. At the Sale Effective Time, by virtue of the Sale and the execution of a Transfer Deed by and between the Seller and Kyivstar Group Ltd. (the “Transfer Deed”), the Seller will sell to Kyivstar Group Ltd. all of the issued and outstanding equity of VEON Holdings in exchange for (i) newly issued Kyivstar Group Ltd. Common Shares, which shall equal the Seller Share Consideration Number (which is defined as the number of the Kyivstar Group Ltd. Common Shares equal to (a) the amount of Closing Equity Value less the Seller Loan Note Consideration Amount, divided by (b) $10.35); provided that the resulting number shall be rounded down to the nearest whole number and (ii) the Seller Loan Note in the amount equal to the Seller Loan Note Consideration Amount (which is defined as the dollar amount equal to the Cash Investment Amount, which in turn is defined as the sum of (a) the PIPE Investments (if any), plus (b) the aggregate amount of cash contained in the Trust Account immediately prior to the Closing (prior to giving effect to the SPAC Shareholder Redemption), less (c) the Aggregate SPAC Shareholder Redemption Payments Amount). Each Merger Sub Ordinary Share, that is issued and outstanding immediately prior to effectiveness of the merger (the “Merger Effective Time”), shall be automatically cancelled in exchange for one validly issued, fully paid and non -assessableordinary share of the surviving company of the merger (the “Surviving Company”). The ordinary shares of the Surviving Company shall have the same rights, powers and privileges as the shares so converted and shall constitute the only issued and outstanding share capital of the Surviving Company. Cohen Circle Units, Cohen Circle Class A Ordinary Shares and Cohen Circle Public Warrants are currently listed on the Nasdaq Stock Market LLC (“Nasdaq”), under the symbols “CCIRU,” “CCIR,” and “CCIRW,” respectively. Upon the closing of the Business Combination, the Cohen Circle securities will be delisted from Nasdaq. Kyivstar Group Ltd. intends to apply to list the Kyivstar Group Ltd