Company: KYIV
Filing Date: 2025-04-18
Form Type: DRS
Source: 0001213900-25-033341
Chunk: 337

Company: Kyivstar Group Ltd.
Filing Date: 2025-04-18
Form: DRS
Chunk 337
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 placement units, and a maximum of $250,000 in loans from its sponsor or one of its affiliates, with which to pay any such potential claims (including costs and expenses incurred in connection with Cohen Circle’s liquidation, currently estimated to be no more than approximately $100,000). In the event that Cohen Circle liquidates and it is subsequently determined that the reserve for claims and liabilities is insufficient, shareholders who received funds from its Trust Account could be liable for claims made by creditors, however such liability will not be greater than the amount of funds from Cohen Circle’s Trust Account received by any such shareholder. 176 If Cohen Circle files a bankruptcy or winding -uppetition or an involuntary bankruptcy winding -uppetition is filed against it that is not dismissed, the proceeds held in the Trust Account could be subject to applicable bankruptcy or insolvency law, and may be included in Cohen Circle’s bankruptcy or insolvency estate and subject to the claims of third parties with priority over the claims of Cohen Circle’s shareholders. To the extent any bankruptcy or insolvency claims deplete the Trust Account, Cohen Circle cannot assure that it will be able to return $10.05 per share to its public shareholders. Additionally, if Cohen Circle files a bankruptcy or winding -uppetition or an involuntary bankruptcy or winding -uppetition is filed against it that is not dismissed, any distributions received by shareholders could be viewed under applicable debtor/creditor and/or bankruptcy or insolvency laws as either a “preferential transfer” or a “fraudulent conveyance.” As a result, a bankruptcy or insolvency court could seek to recover all amounts received by Cohen Circle’s shareholders. Furthermore, the Cohen Circle Board may be viewed as having breached its fiduciary duty to its creditors and/or may have acted in bad faith, and thereby exposing itself and Cohen Circle to claims of punitive damages, by paying public shareholders from the Trust Account prior to addressing the claims of creditors. Cohen Circle cannot assure that claims will not be brought against it for these reasons. Cohen Circle’s Public Shareholders will be entitled to receive funds from the Trust Account only upon the earlier of (i) the completion of Cohen Circle’s initial business combination, (ii) the redemption of any public shares properly tendered in connection with a shareholder vote to amend Cohen Circle’s amended and restated memorandum and articles of association to (A) modify the substance or timing of Cohen Circle’s obligation to redeem 100% of its public shares if it does not complete an initial business combination within 24 months from the closing of its