Company: KYIV
Filing Date: 2025-07-22
Form Type: 424B3
Source: 0001213900-25-066705
Chunk: 273

Company: Kyivstar Group Ltd.
Filing Date: 2025-07-22
Form: 424B3
Chunk 273
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 Class B Ordinary Shares held by the Sponsor (representing the excess of: (i) 7,905,000 Founder Shares, over (ii) the sum of (a) 2,609,647 Forfeited Sponsor Shares and (b) 1,323,838 Vesting Securities), which will convert on a one -for-onebasis into Cohen Circle Class A Ordinary Shares in connection with Closing; plus (iii) under each of the three scenarios, 715,000 Cohen Circle Class A Ordinary Shares underlying the Cohen Circle Private Placement Units held by the Sponsor. **In the absence of a trading market for the Kyivstar Group Ltd. Common Shares as of the date of this proxy statement/prospectus, the fair value of the Kyivstar Group Ltd. Common Shares issuable to the Non -RedeemingShareholders has been determined based on observable market data for similar securities with an active trading market. Because the Kyivstar Group Ltd. Common Shares to be issued to the Non -RedeemingShareholders will be fungible with the Kyivstar Group Ltd. Common Shares to be exchanged for the Cohen Circle Class A Ordinary Shares in connection with the closing of the Transactions, the Cohen Circle Class A Ordinary Shares has been determined to represent the most similar securities with an active trading market. Accordingly, the same market price of the Cohen Circle Class A Ordinary Shares reflected in the table above has been employed as the fair value of the Kyivstar Group Ltd. Common Shares to be issued to the Non -RedeemingShareholders.

128 G.Represents payment of preliminary estimated transaction costs of $36 million to be incurred as a part of the Business Combination. G.1Payment of deferred underwriters’ fees of $10 million. The unaudited pro forma condensed combined statement of financial position reflects these costs as a reduction of cash and cash equivalents of $10 million with a corresponding decrease of $10 million to deferred underwriting fee payable. G.2Payment of incremental expenses attributable to equity issuance costs related to the Business Combination incurred through the Business Combination Closing Date of $19 million. The unaudited pro forma condensed combined statement of financial position reflects these costs as a reduction of cash and cash equivalents of $19 million with a corresponding decrease of $19 million to issued capital. G.3Payment of all other incremental expenses related to the Business Combination incurred through the Business Combination Closing Date of $7 million of which $2million of trade payables were already recorded within balance sheet. The unaudited pro