Company: KYIV
Filing Date: 2025-03-31
Form Type: DRS
Source: 0001213900-25-026261
Chunk: 184

Company: Kyivstar Group Ltd.
Filing Date: 2025-03-31
Form: DRS
Chunk 184
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ivstar has incurred and expects that it will incur significant, non -recurringcosts in connection with consummating the Business Combination. Cohen Circle and Kyivstar may also incur additional costs to retain key employees. Cohen Circle and Kyivstar will also incur significant legal, financial advisor, accounting, banking and consulting fees, fees relating to regulatory filings and notices, SEC filing fees, printing and mailing fees and other costs associated with the Business Combination. Cohen Circle and Kyivstar estimate that they will incur $ million in aggregate transaction costs. Some of the transaction costs are payable regardless of whether the Business Combination is completed. See the section entitled “ The Business Combination.” Risks Related to Taxation There may be 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. There are many requirements that must be satisfied in order for the Merger to qualify as a “reorganization” under Section 368 of the Code, some of which are based upon factual determinations and others are fundamental to corporate reorganizations. There can be no assurance that the Merger qualifies as a reorganization under Section 368 of the Code. U.S. holders should consult their tax advisors regarding the potential qualification of the Merger as a reorganization for U.S. federal income tax purposes. 74 It is possible that a U.S. holder (as defined in “Material U.S. Federal Income Tax Considerations”) of Cohen Circle Ordinary Shares and Cohen Circle Warrants could be treated as transferring its Cohen Circle Ordinary Shares and