Company: KYIV
Filing Date: 2025-03-31
Form Type: DRS
Source: 0001213900-25-026261
Chunk: 148

Company: Kyivstar Group Ltd.
Filing Date: 2025-03-31
Form: DRS
Chunk 148
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 Cohen Circle must cease all operations except for the purpose of winding up, redeeming 100% of the issued and outstanding Public Shares and, subject to the approval of its remaining shareholders and its board of directors, dissolving and liquidating. In such event, third parties may bring claims against Cohen Circle. Although Cohen Circle has obtained waiver agreements from certain vendors and service providers it has engaged and owes money to, and the prospective target businesses it has negotiated with, whereby such parties have waived any right, title, interest or claim of any kind they may have in or to any monies held in the Trust Account, there is no guarantee that they or other vendors who did not 54 execute such waivers will not seek recourse against the Trust Account notwithstanding such agreements. Furthermore, there is no guarantee that a court will uphold the validity of such agreements. Accordingly, the proceeds held in the Trust Account could be subject to claims which could take priority over those of Cohen Circle Public Shareholders. If Cohen Circle is unable to complete an initial business combination by October 10, 2026, or subsequent extensions thereof, the Sponsors have agreed that it will be liable to ensure that the proceeds in the Trust Account are not reduced below the lesser of (i) $10.05 per share and (ii) the actual amount per share held in the Trust Account as of the date of the liquidation of the Trust Account if less than $10.05 per share due to reductions in the value of the trust assets, in each case net of the interest which may be withdrawn to pay taxes, by the claims of target businesses or claims of vendors or other entities that are owed money by Cohen Circle for services rendered or contracted for or products sold to Cohen Circle to the extent that such a vendor or prospective target business did not execute such a waiver. However, it may not be able to meet such obligation. Therefore, the per share distribution from the Trust Account in such a situation may be less than $10.05 due to such claims. Additionally, if Cohen Circle is forced to file a bankruptcy case or an involuntary bankruptcy case is filed against it which is not dismissed, or if Cohen Circle otherwise enters compulsory or court -supervisedliquidation, the proceeds held in the Trust Account could be subject to applicable bankruptcy law and may be included in its bankruptcy estate and subject to the claims of third parties with priority over the claims of its shareholders. To the extent any bankruptcy claims deplete the Trust Account, Cohen Circle may not be able to return to its Public Shareholders at