# EDGAR Filing Document

**Accession Number:** 0001894176
**File Stem:** 0001213900-25-064281
**Filing Date:** 2025-7
**Character Count:** 45328
**Document Hash:** aca7638947772f39a756f81cc9069f20
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-25-064281.hdr.sgml**: 20250715

**ACCESSION NUMBER**: 0001213900-25-064281

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 15

**CONFORMED PERIOD OF REPORT**: 20250710

**ITEM INFORMATION**: Entry into a Material Definitive Agreement

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250715

**DATE AS OF CHANGE**: 20250715

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Cohen Circle Acquisition Corp. I
- **CENTRAL INDEX KEY:** 0001894176
- **STANDARD INDUSTRIAL CLASSIFICATION:** BLANK CHECKS [6770]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 981634072
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-42369
- **FILM NUMBER:** 251125134

**BUSINESS ADDRESS:**
- **STREET 1:** 2929 ARCH STREET STE 1703
- **CITY:** PHILADELPHIA
- **STATE:** PA
- **ZIP:** 19104
- **BUSINESS PHONE:** 4844593476

**MAIL ADDRESS:**
- **STREET 1:** 2929 ARCH STREET STE 1703
- **CITY:** PHILADELPHIA
- **STATE:** PA
- **ZIP:** 19104

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FTAC Artemis Acquisition Corp.
- **DATE OF NAME CHANGE:** 20211116

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**PURSUANT TO SECTION 13 OR 15(D)**

**OF THE SECURITIES EXCHANGE ACT OF 1934**

**Date of Report (Date of earliest event reported): July 10, 2025**

**Cohen Circle Acquisition Corp. I**

**(Exact name of registrant as specified in its charter)**

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| | | |
|:---|:---|:---|
| **Cayman Islands** | **001-42369** | **98-1634072** |
| **(State or other jurisdiction**<br> **of incorporation)** | **(Commission File Number)** | **(I.R.S. Employer**<br> **Identification No.)** |

---

---

| | |
|:---|:---|
| **2929 Arch Street**<br>**Suite #1703**<br>**Philadelphia, Pennsylvania** | **19104** |
| **(Address of Principal Executive Offices)** | **(Zip Code)** |

---

**(215) 701-9555**

**(Registrant's telephone number, including area code)**

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☒ Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencements communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |
| Units, each consisting of one Class A ordinary share and one-third of one redeemable warrant | CCIRU | The Nasdaq Stock Market LLC |
| Class A ordinary shares, par value $0.0001 per share | CCIR | The Nasdaq Stock Market LLC |
| Warrants, each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50 per share | CCIRW | The Nasdaq Stock Market LLC |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**Item 1.01 Entry into a Material Definitive Agreement.**

**The Business Combination Agreement**

As previously announced, on March 18, 2025, Cohen Circle Acquisition Corp. I (the "Company") entered into a business combination agreement (the "Business Combination Agreement") by and among (1) the Company, (2) VEON Amsterdam B.V., a private company with limited liability (besloten vennootschap met beperkte aansprakelijkheid) incorporated under Dutch law and registered with the Dutch Chamber of Commerce (Kamer van Koophandel) under number 34378904 (the "Seller"), (3) VEON Holdings B.V., a private company with limited liability (besloten vennootschap met beperkte aansprakelijkheid) incorporated under Dutch law and registered with the Dutch Chamber of Commerce (Kamer van Koophandel) under number 34345993 ("VEON Holdings"), (4) Kyivstar Group Ltd., an exempted company with limited liability, incorporated and existing under the laws of Bermuda with registration number 202504557, with its registered office at Victoria Place, 31 Victoria Street, Hamilton, HM10, Bermuda, and its principal business address at Index Tower (East Tower), Unit 1703, DIFC (Dubai International Financial Center), United Arab Emirates ("PubCo"), and (5) Varna Merger Sub Corp., an exempted company incorporated with limited liability in the Cayman Islands with registration number 419635 (together with VEON Holdings and PubCo, the "Kyivstar Group" and separately, a "Kyivstar Group Company"), (together with the other transactions contemplated by the Business Combination Agreement, the "Business Combination"), which was subsequently amended on June 24, 2025, by Amendment No. 1 to the Business Combination Agreement (the "BCA Amendment No. 1").

On July 10, 2025, the Company, the Seller and the Kyivstar Group Companies entered into Amendment No. 2 to Business Combination Agreement (the "BCA Amendment No. 2"), to, among other things, adjust the number of Kyivstar Group Ltd. Common Shares allocable to each of the Seller and the Sponsor in connection with the Closing of the Business Combination ("the Adjustment").

This Current Report on Form 8-K (this "Current Report") provides a summary of the BCA Amendment No. 2. Such description does not purport to be complete and is qualified in its entirety by the terms and conditions of the BCA Amendment No. 2, a copy of which is filed as Exhibit 2.1 to this Current Report and is incorporated by reference into this Current Report.

Terms used but not defined herein have the meaning set forth in the Business Combination Agreement, as amended. To the extent not specifically amended by the BCA Amendment No. 1 or the BCA Amendment No. 2, all provisions of the Business Combination Agreement remain in full force and effect.

**Sponsor Agreement**

As previously announced, on March 18, 2025, in connection with the execution of the Business Combination Agreement, the Company, Cohen Circle Sponsor I, LLC, a Delaware limited liability company ("CCS I"), (4) Cohen Circle Advisors I, LLC, a Delaware limited liability company ("CCA I," and together with CSS I, the "Sponsors"),, Cantor Fitzgerald & Co., a New York general partnership ("Cantor"),, PubCo and the Seller entered into a sponsor agreement (the "Sponsor Agreement").

On July 10, 2025, the Company, the Sponsors, Cantor, PubCo and the Seller entered into Amendment No. 1 to Sponsor Agreement (the "Sponsor Agreement Amendment") to, among other things, conform its terms to the terms of the Adjustment.

This Current Report provides a summary of the Sponsor Agreement Amendment. Such description does not purport to be complete and is qualified in its entirety by the terms and conditions of the Sponsor Agreement Amendment, a copy of which is filed as Exhibit 10.1 to this Current Report and is incorporated by reference into this Current Report.

Terms used but not defined herein have the meaning set forth in the Sponsor Agreement. To the extent not specifically amended by the Sponsor Agreement Amendment, all provisions of the Sponsor Agreement remain in full force and effect.

 

 

*Important Information About the Business Combination and Where to Find It*

In connection with the previously announced Business Combination, PubCo has filed with the SEC a registration statement on Form F-4, which includes a preliminary prospectus/proxy statement and will include a definitive prospectus/proxy statement and other relevant documents, to be distributed to the Company's shareholders in connection with the Company's solicitation of proxies for the vote by the Company's shareholders with respect to the Business Combination and other matters as described in the registration statement, as well as the prospectus relating to the offer and sale of the securities of PubCo to be issued in connection with the Business Combination.

THIS CURRENT REPORT ON FORM 8-K IS NOT A SUBSTITUTE FOR THE REGISTRATION STATEMENT, THE DEFINITIVE PROXY STATEMENT/PROSPECTUS OR ANY OTHER DOCUMENT THAT THE COMPANY WILL SEND TO ITS SHAREHOLDERS IN CONNECTION WITH THE BUSINESS COMBINATION.

INVESTORS AND SECURITY HOLDERS ARE ADVISED TO READ THE REGISTRATION STATEMENT, PROXY STATEMENT/PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT THE BUSINESS COMBINATION AND THE PARTIES TO THE BUSINESS COMBINATION. Investors and security holders will be able to obtain copies of these documents and other documents filed with the SEC free of charge at www.sec.gov. The definitive proxy statement/final prospectus will be mailed to the Company's shareholders as of a record date to be established for voting on the Business Combination. The Company's shareholders will also be able to obtain copies of the proxy statement/prospectus without charge, once available, at the SEC's website at www.sec.gov, or by directing a request to: Cohen Circle Acquisition Corp. I, 2929 Arch Street, Suite 1703, Philadelphia, Pennsylvania 19104.

*Participants in the Solicitation*

 

The Company, the Kyivstar Group, the Seller, and VEON Ltd. ("VEON"), and their respective directors, executive officers, other members of management, and employees, under SEC rules, may be deemed participants in the solicitation of proxies of the Company's shareholders in connection with the Business Combination. Investors and security holders may obtain more detailed information regarding the names and interests in the Business Combination of the directors and officers of the Company, the Kyivstar Group and VEON in the registration statement on Form F-4 filed with the SEC by PubCo, which include the proxy statement of the Company for the Business Combination. Information about the Company's directors and executive officers is also available in the Company's filings with the SEC.

*Forward-Looking Statements*

Certain statements made herein are not historical facts but may be considered "forward-looking statements" within the meaning of Section 27A of the Securities Act, Section 21E of the Exchange Act and the "safe harbor" provisions under the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "would," "plan," "predict," "potential," "seem," "seek," "future," "outlook" or the negatives of these terms or variations of them or similar terminology or expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding future events, the Business Combination among the Company, PubCo and Kyivstar, the estimated or anticipated future results and benefits of the combined company following the Business Combination, including the likelihood and ability of the parties to successfully consummate the Business Combination, future opportunities for the combined company.

These statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. All statements contained in this Current Report on Form 8-K that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements relating to, among other things, the Business Combination, the expected timing of closing of the Business Combination, the expected impact of the Business Combination, including PubCo being the first U.S.-listed pure play Ukrainian investment opportunity, potential investor interest and the percentage of VEON's ownership interest in the equity of PubCo following the closing of the Business Combination. These statements are based VEON, the Company and Kyivstar on management's current expectations. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause Kyivstar's, PubCo's, VEON's or the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements in this Current Report on Form 8-K, including, but not limited to, the occurrence of any event, change or other circumstances that could give rise to the termination of the Business Combination (including as a result of a termination of the Business Combination Agreement and/or any related agreements between the relevant parties); the outcome of any legal proceedings that may be instituted against the Company, Kyivstar or VEON, any of its subsidiaries or others following the announcement of the Business Combination; the inability to complete the Business Combination due to the failure to obtain the necessary shareholder approvals or to satisfy other conditions to closing; changes to the proposed structure of the Business Combination or the business combination contemplated thereunder that may be required or appropriate as a result of applicable laws or regulations; the decision by the SEC to deem effective the Registration Statement; the ability to meet the Nasdaq listing standards upon closing of the Business Combination and admission of PubCo for trading on the Nasdaq; the risk that the Business Combination disrupts current plans and operations of VEON as a result of the announcement and consummation of the Business Combination; the ability to recognize the anticipated benefits of the Business Combination, which may be affected by, among other things, competition, the ability of PubCo to grow, retain its management and key employees; costs related to the Business Combination; changes in applicable laws or regulations; the escalation or de-escalation of war between Russia and Ukraine and other risks and uncertainties set forth in the sections entitled "*Risk Factors*" and "*Cautionary Statement Regarding Forward-Looking Statements*" in the registration statement on Form F-4 filed with the SEC by PubCo on June 5, 2025. Forward-looking statements are inherently subject to risks and uncertainties, many of which VEON, Kyivstar and the Company cannot predict with accuracy and some of which neither VEON, the Company nor Kyivstar might even anticipate. The forward-looking statements contained in this Current Report on Form 8-K speak only as of the date of this filing. VEON and Kyivstar do not undertake to publicly update any forward-looking statement to reflect events or circumstances after such date or to reflect the occurrence of unanticipated events, except as required by U.S. federal securities laws.

No assurances can be made that the parties will successfully close the Business Combination, or close the Business Combination on the timeframe currently contemplated. The Business Combination is subject to the approval of the Company's shareholders, the approval of the Registration Statement by the SEC, as well as other regulatory approvals and customary conditions to closing.

*No Offer or Solicitation*

This Current Report on Form 8-K shall not constitute a solicitation of a proxy, consent or authorization with respect to any securities in respect of the Business Combination. This Current Report on Form 8-K is for informational purposes only and is neither an offer to purchase, nor a solicitation of an offer to sell, subscribe for or buy any securities in any jurisdiction, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act.

**Item 9.01 Financial Statements and Exhibits.**

(d) Exhibits:

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| | |
|:---|:---|
| **Exhibit** | **Description** |
| 2.1 | [Amendment No. 2 to the Business Combination Agreement, dated as of July 10, 2025, by and among Cohen Circle Acquisition Corp. I, Kyivstar Group Ltd., VEON Amsterdam B.V., VEON Holdings B.V., and Varna Merger Sub Corp.](ea024891601ex2-1_cohen1.htm) |
| 10.1 | [Amendment No. 1 to Sponsor Agreement, dated as of July 10, 2025, by and among Cohen Circle Acquisition Corp. I, Kyivstar Group Ltd., Cohen Circle Sponsor I, LLC, Cohen Circle Advisors I, LLC, Cantor Fitzgerald & Co., and VEON Amsterdam B.V.](ea024891601ex10-1_cohen1.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

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**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | |
|:---|:---|:---|
|  | **Cohen Circle Acquisition Corp. I** | **Cohen Circle Acquisition Corp. I** |
| Date: July 15, 2025 | By: | /s/ Betsy Z. Cohen |
|  | Name: | Betsy Z. Cohen |
|  | Title: | President and Chief Executive Officer |

---

## Exhibit 2.1

**Exhibit 2.1**

***Execution Version***

**AMENDMENT NO. 2 TO BUSINESS COMBINATION AGREEMENT**

This Amendment No. 2 (this "<u>Amendment No. 2</u>") to Business Combination Agreement is made and entered into as of July 10, 2025, by and among (1) VEON AMSTERDAM B.V., a private company with limited liability (*besloten vennootschap met beperkte aansprakelijkheid*) incorporated under Dutch law and registered with the Dutch Chamber of Commerce (*Kamer van Koophandel*) under number 34378904 (the "<u>Seller</u>"), (2) VEON HOLDINGS B.V., a private company with limited liability (*besloten vennootschap met beperkte aansprakelijkheid*) incorporated under Dutch law and registered with the Dutch Chamber of Commerce (*Kamer van Koophandel*) under number 34345993 (the "<u>Company</u>"), (3) KYIVSTAR GROUP LTD., an exempted company with limited liability, incorporated and existing under the laws of Bermuda with registration number 202504557, with its registered office at Victoria Place, 31 Victoria Street, Hamilton, HM10, Bermuda, and its principal business address at Index Tower (East Tower), Unit 1703, DIFC (Dubai International Financial Center), United Arab Emirates ("<u>New PubCo</u>"), (4) Varna Merger Sub Corp., an exempted company incorporated with limited liability in the Cayman Islands with registration number 419635 (the "<u>Merger Sub</u>" and, together with the Company and New PubCo, the "<u>Company Parties</u>"), and (5) COHEN CIRCLE ACQUISITION CORP. I, a Cayman Islands exempted company (company number 382528) (the "<u>SPAC</u>"). Each Company Party and the SPAC will individually be referred to herein as a "<u>Party</u>" and, collectively, as the "<u>Parties</u>". Capitalized terms used and not otherwise defined herein shall have the meanings assigned to them in the Business Combination Agreement.

**RECITALS**

<u>WHEREAS</u>, the Parties entered into a business combination agreement, dated as of March 18, 2025 (as previously amended, the "<u>Business Combination Agreement</u>").

<u>WHEREAS</u>, in accordance with Section 11.12 of the Business Combination Agreement, the Parties desire to amend the Business Combination Agreement as set forth in this Amendment No 2.

<u>NOW, THEREFORE</u>, in consideration of the covenants, promises and representations set forth herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:

**Article I<u><br> Amendments and consents</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1. <u>Amendments</u>. The Parties hereby agree that the Business Combination Agreement shall be amended as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The definition of "Seller Share Consideration Number" in Section 1.1 of the Business Combination Agreement is hereby amended as follows (with additions in bold, underlined text and deletions in strikethrough):

 

*"<u>Seller Share Consideration Number</u>" shall mean the number of the New PubCo Common Shares equal to**<u>: (1)</u>**(a) the amount of (i) Closing Equity Value less (ii) the Seller Loan Note Consideration Amount, divided by (b) $10.35;**<u>,</u>** provided that the resulting number shall be rounded down to the nearest whole number**<u>; minus (2) 303,098</u>**.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Section 3.2(b) of the Business Combination Agreement is hereby amended as follows (with additions in bold, underlined text and deletions in strikethrough):

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(b) <u>Cancellation of Certain SPAC Ordinary Shares</u>. As further described in, and pursuant to, the Sponsor Agreement, on the Closing Date, immediately prior to the Merger Effective Time: (i) **<u>2,609,647</u>** 2,155,000 SPAC Class B Ordinary Shares held by the Sponsor shall be surrendered by the Sponsor to the SPAC, and the SPAC shall cause such shares to be automatically cancelled and no longer outstanding without any conversion thereof or payment or other consideration therefor and no SPAC Class A Ordinary Shares, New PubCo Common Shares or other consideration shall be issued or issuable in exchange therefor (the "Forfeited Sponsor Shares"); and (ii) each SPAC Ordinary Share, that is issued and outstanding immediately prior to the Merger Effective Time, owned by the SPAC as a treasury share immediately prior to the Merger Effective Time, shall automatically be cancelled without any conversion thereof or payment or other consideration therefor and no SPAC Class A Ordinary Shares, New PubCo Common Shares or other consideration shall be issued or issuable in exchange therefor (the "Cancelled Treasury Shares").*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2. <u>Effect of Amendments</u>. The Parties hereby acknowledge and agree that this Amendment No. 2 and the amendments set out in <u>Section 1.1</u> above shall be effective as of the date hereof. This Amendment No. 2 is supplemental to the Business Combination Agreement and is to be read and construed as one instrument with the Business Combination Agreement. On and after the date hereof, each reference in the Business Combination Agreement or the Transaction Documents to the provisions amended pursuant to <u>Section 1.1</u> above shall be a reference to the respective provision as amended hereby, and each reference to the Business Combination Agreement in the Transaction Documents shall be a reference to the Business Combination Agreement as amended hereby. The Business Combination Agreement, as amended by this Amendment No. 2, is and shall continue to be in full force and effect and is in all respects ratified and confirmed hereby. This Amendment No. 2 shall not constitute an amendment or waiver of any provision of the Business Combination Agreement or the Transaction Documents not expressly amended or waived herein and shall not be construed as an amendment, waiver, or consent to any action that would require an amendment, waiver, or consent except as expressly stated herein. This Amendment No. 2 is without prejudice to any rights or claims of any Party arising under the terms of the Business Combination Agreement or other Transaction Documents before the date of this Amendment No. 2. On and after the date hereof, this Amendment No. 2 is hereby designated as a Transaction Document.

**Article II<u><br> GENERAL PROVISIONS</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1. <u>Notices</u>. Any notice or other communication to be given by a Party to another Party in connection with this Amendment No. 2 shall, except where otherwise specifically provided: (a) be in writing in the English language; (b) given by pre-paid registered post, by an internationally recognized courier company or by email to the relevant address or email address set forth for such Party on Schedule III attached to the Business Combination Agreement; or (c) by any other method approved in writing by the receiving Party. The relevant addresses and email addresses for each Party are set forth on Schedule III attached to the Business Combination Agreement. Any notice or other communication sent in accordance with this <u>Section 2.1</u> shall be deemed to have been given and received: (A) if sent by pre-paid courier, on the earlier of the time of delivery and three Business Days after being sent to a representative of the courier service; (B) if sent by email, upon being sent, subject to no automated notification of delivery failure being received by the sender for all the recipient email addresses, except that if such time is outside of Working Hours, such notice or other communication shall instead be deemed given and received at the start of the next period of Working Hours; or (C) if sent by any other method approved by the recipient, upon the recipient giving written confirmation of receipt. Any Party may change any of its notice details by giving written notice of such to each other Party in accordance with the Business Combination Agreement. This <u>Section 2.1</u> does not apply to the formal service of any court proceedings.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2. <u>Counterparts; Electronic Deliver</u>y. This Amendment No. 2 may be executed in counterparts, all of which shall be considered one and the same document and shall become effective when such counterparts have been signed by each of the Parties and delivered to the other Parties, it being understood that all Parties need not sign the same counterpart. Delivery by electronic transmission to counsel for the other Parties of a counterpart executed by a Party shall be deemed to meet the requirements of the previous sentence. The exchange of a fully executed Amendment No. 2 (in counterparts or otherwise) in pdf, DocuSign or similar format and transmitted by facsimile or email shall be sufficient to bind the Parties to the terms and conditions of this Amendment No. 2.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3. <u>Entire Agreement</u>. This Amendment No. 2 together with the Business Combination Agreement: (a) constitute the entire agreement among the Parties with respect to their subject matter and supersede all prior and current agreements and understandings, both written and oral, among the Parties with respect to their subject matter; and (b) are not intended to confer upon any other Person other than the Parties any rights or remedies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4. <u>Governing Law</u>. This Amendment No. 2 and any action, suit, dispute, controversy or claim arising out of this Amendment No. 2, or the validity, interpretation, breach or termination of this Amendment No. 2, shall be governed by and construed in accordance with the internal law of the State of Delaware regardless of the law that might otherwise govern under applicable principles of conflicts of law thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.5. <u>Consent to Jurisdiction; Waiver of Jury Trial</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Each of the Parties irrevocably consents to the exclusive jurisdiction and venue of any Delaware Chancery Court or Federal court of the United States of America sitting in Delaware, in each case in connection with any matter based upon or arising out of this Amendment No. 2. Each Party may do so only if he, she or it hereby waives, and shall not assert as a defense in any legal dispute, that: (a) such Person is not personally subject to the jurisdiction of the above named courts for any reason; (b) such Proceeding may not be brought or is not maintainable in such court; (c) such Person's property is exempt or immune from execution; (d) such Proceeding is brought in an inconvenient forum; or (e) the venue of such Proceeding is improper. Each Party hereby agrees not to commence or prosecute any such action, claim, cause of action or suit other than before one of the above-named courts, nor to make any motion or take any other action seeking or intending to cause the transfer or removal of any such action, claim, cause of action or suit to any court other than one of the above-named courts, whether on the grounds of inconvenient forum or otherwise. Each Party hereby consents to service of process in any such proceeding in any manner permitted by the laws of the State of Delaware, and further consents to service of process by nationally recognized overnight courier service guaranteeing overnight delivery, or by registered or certified mail, return receipt requested, at its address specified pursuant to Section 11.1 of the Business Combination Agreement and waives and covenants not to assert or plead any objection which they might otherwise have to such manner of service of process. Notwithstanding the foregoing in this <u>Section 2.5</u>, any Party may commence any action, claim, cause of action or suit in a court other than the above-named courts solely for the purpose of enforcing an order or judgment issued by one of the above-named courts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) TO THE EXTENT NOT PROHIBITED BY APPLICABLE LAW WHICH CANNOT BE WAIVED, EACH OF THE PARTIES MAY DO SO ONLY IF HE, SHE OR IT IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT TO TRIAL BY JURY ON ANY CLAIMS OR COUNTERCLAIMS ASSERTED IN ANY LEGAL DISPUTE RELATING TO THIS AMENDMENT NO. 2, AND FOR ANY COUNTERCLAIM RELATING HERETO, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING. IF THE SUBJECT MATTER OF ANY SUCH LEGAL DISPUTE IS ONE IN WHICH THE WAIVER OF JURY TRIAL IS PROHIBITED, NO PARTY NOR ANY PERSON ASSERTING RIGHTS AS A THIRD-PARTY BENEFICIARY SHALL ASSERT IN SUCH LEGAL DISPUTE A NON-COMPULSORY COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS AMENDMENT NO. 2. FURTHERMORE, NO PARTY SHALL SEEK TO CONSOLIDATE ANY SUCH LEGAL DISPUTE WITH A SEPARATE ACTION OR OTHER PROCEEDING IN WHICH A JURY TRIAL CANNOT BE WAIVED.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.6. <u>Rules of Construction</u>. Each of the Parties agrees that it has been represented by independent counsel of its choice during the negotiation and execution of this Amendment No. 2 and each Party hereto and its counsel cooperated in the drafting and preparation of this Amendment No. 2 and the documents referred to herein and, therefore, waive the application of any Law or rule of construction providing that ambiguities in an agreement or other document will be construed against the Party drafting such agreement or document.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.7. <u>Expenses</u>. All expenses incurred in connection with this Amendment No. 2 shall be paid by the Party incurring such expenses.

[Signature Page Follows]

IN WITNESS WHEREOF, the Parties have caused this Amendment No. 2 to be executed as of the date first written above.

VEON AMSTERDAM B.V.

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| | | |
|:---|:---|:---|
| By: | /s/ Kaan Terzioglu | /s/ Kaan Terzioglu |
|  | Name: | Kaan Terzioglu |
|  | Title: | Director |

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| | | |
|:---|:---|:---|
| By: | /s/ Maciej Wojtaszek | /s/ Maciej Wojtaszek |
|  | Name: | Maciej Wojtaszek |
|  | Title: | Director |

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VEON HOLDINGS B.V.

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| | | |
|:---|:---|:---|
| By: | /s/ Kaan Terzioglu | /s/ Kaan Terzioglu |
|  | Name: | Kaan Terzioglu |
|  | Title: | Director |

---

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| | | |
|:---|:---|:---|
| By: | /s/ Maciej Wojtaszek | /s/ Maciej Wojtaszek |
|  | Name: | Maciej Wojtaszek |
|  | Title: | Director |

---

[*Signature Page to Amendment No. 2 to Business Combination Agreement*]

KYIVSTAR GROUP LTD.

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| | | |
|:---|:---|:---|
| By: | /s/ Kaan Terzioglu | /s/ Kaan Terzioglu |
|  | Name: | Kaan Terzioglu |
|  | Title: | Director |

---

Varna Merger Sub Corp.

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| | | |
|:---|:---|:---|
| By: | /s/ Kaan Terzioglu | /s/ Kaan Terzioglu |
|  | Name: | Kaan Terzioglu |
|  | Title: | Director |

---

[*Signature Page to Amendment No. 2 to Business Combination Agreement*]

COHEN CIRCLE ACQUISITION CORP. I

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| | | |
|:---|:---|:---|
| By: | /s/ Betsy Z. Cohen | /s/ Betsy Z. Cohen |
|  | Name: | Betsy Z. Cohen |
|  | Title: | President and Chief Executive Officer |

---

[*Signature Page to Amendment No. 2 to Business Combination Agreement*]

## Exhibit 10.1

**Exhibit 10.1**

**AMENDMENT NO. 1 TO<br> SPONSOR AGREEMENT**

This AMENDMENT NO. 1 TO SPONSOR AGREEMENT (this "<u>Amendment</u>") is made and entered into as of July 10, 2025, by and among (1) COHEN CIRCLE ACQUISITION CORP. I, a Cayman Islands exempted company (company number 382528) (the "<u>SPAC</u>"); (2) KYIVSTAR GROUP LTD., an exempted company with limited liability, incorporated and existing under the laws of Bermuda with registration number 202504557, with its registered office at Victoria Place, 31 Victoria Street, Hamilton, HM10, Bermuda, and its principal business address at Index Tower (East Tower), Unit 1703, DIFC (Dubai International Financial Center), United Arab Emirates ("<u>New PubCo</u>"); (3) COHEN CIRCLE SPONSOR I, LLC, a Delaware limited liability company ("<u>CCS I</u>"), (4) COHEN CIRCLE ADVISORS I, LLC, a Delaware limited liability company ("<u>CCA I</u>," and together with CSS I, the "<u>Sponsors</u>"), (5) CANTOR FITZGERALD & CO., a New York general partnership ("<u>Cantor</u>"), and (6) VEON AMSTERDAM B.V., a private company with limited liability (*besloten vennootschap met beperkte aansprakelijkheid*) incorporated under Dutch law and registered with the Dutch Chamber of Commerce (*Kamer van Koophandel*) under number 34378904 (the "<u>Seller</u>"). Capitalized terms used herein without definition have the meanings set forth in the Agreement (as defined below).

**RECITALS**

<u>WHEREAS</u>, the parties hereto previously entered into that certain Sponsor Agreement dated March 18, 2025 (the "<u>Agreement</u>").

<u>WHEREAS</u>, in accordance with Section 6.9 of the Agreement, the parties hereto desire to amend the Agreement as set forth in this Amendment.

<u>NOW, THEREFORE</u>, in consideration of the foregoing and the mutual agreements contained herein, and intending to be legally bound hereby, the parties hereto hereby agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Amendments</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The first WHEREAS clause of the Agreement is hereby amended and restated in its entirety to read as follows:

"<u>WHEREAS</u>, as of the date hereof (i) in aggregate, the Sponsors are the holders of record and the "beneficial owners" (within the meaning of Rule 13d-3 under the Exchange Act) of **7,905,000** SPAC Class B Ordinary Shares and (ii) CCS I is the holder of record and the "beneficial owner" of **715,000** Placement Units (as defined in the SPAC IPO Prospectus)."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The second WHEREAS clause of the Agreement is hereby deleted.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The fourth WHEREAS clause of the Agreement is hereby amended and restated in its entirety to read as follows:

"<u>WHEREAS</u>, in connection with the consummation of the Transactions: (a) all **715,000** of the New PubCo Securities to be issued to CCS I at Closing in exchange for the SPAC Class A Ordinary Shares underlying the Placement Units, following the conversion of the Placement Units into SPAC Class A Ordinary Shares and SPAC Placement Warrants, will not be subject to a lock-up or vesting; (b) the Sponsors will forfeit **2,609,647** SPAC Class B Ordinary Shares (the "<u>Forfeited Sponsor Shares</u>"), (c) CCS I will forfeit **238,333.33** SPAC Placement Warrants, which represent all of the SPAC Placement Warrants underlying the Placement Units held by CCS I following the conversion of the Placement Units into SPAC Class A Ordinary Shares and SPAC Placement Warrants (the "<u>Forfeited Sponsor Warrants</u>"), (d) **3,971,515** of the New PubCo Securities to be issued to the Sponsors at Closing in exchange for their SPAC Class A Ordinary Shares (resulting from the preceding conversion from the SPAC Class B Ordinary Shares in accordance with the conversion mechanics set forth in the SPAC Governing Documents) will be subject to a lock-up (the "<u>Lock-up Securities</u>"); and (iii) **1,323,838** of the New PubCo Securities to be issued for the benefit of the Sponsors at Closing in exchange for their SPAC Class A Ordinary Shares (resulting from the preceding conversion from the SPAC Class B Ordinary Shares in accordance with the conversion mechanics set forth in the SPAC Governing Documents) will be subject to certain vesting conditions (the "<u>Vesting Securities</u>"), in each case on the terms and subject to the conditions set forth in this Agreement."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The fifth WHEREAS clause of the Agreement is hereby amended and restated in its entirety to read as follows:

"<u>WHEREAS</u>, immediately following the Closing, the Sponsors will hold **6,010,353** New PubCo Common Shares, as set forth in <u>Annex A</u>."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) The defined term "Forfeited Cantor Warrants" set forth in Section 1.1 of the Agreement is hereby deleted.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Section 2.3 of the Agreement is hereby deleted.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) The number "718,750" appearing in Section 4.1(b)(i) and Section 4.1(b)(ii) of the Agreement is hereby deleted and replaced with the number "**661,919**".

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) The table set forth in Annex A to the Agreement is hereby amended and restated in its entirety to read as follows:

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| | |
|:---|:---|
| <br>**Type of Securities (A)** | **Number of Securities**<br> **(B)** |
| (1) Unrestricted Securities | 715000 |
| (2) Lock-up Securities | 3971515 |
| (3) Vesting Securities | 1323838 |
| &nbsp;&nbsp;&nbsp;(3.1) *First Vesting Tranche Securities* | *661919* |
| &nbsp;&nbsp;&nbsp;(3.2) *Second Vesting Tranche Securities* | *661919* |
| **(4) Total:** | **6010353** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Effect of Amendments</u>. Except as specifically amended by this Amendment, the terms and conditions of the Agreement shall remain unmodified and in full force and effect. In the event of any inconsistencies between the terms of this Amendment and any terms of the Agreement, the terms of this Amendment shall govern and prevail. Upon the effectiveness of this Amendment, each reference (i) in the Agreement to "this Agreement," "hereunder," "herein," "hereof' or words of like import referring to the Agreement shall mean and refer to the Agreement as amended by this Amendment, and (ii) in any other related document or instrument to the "Agreement," "thereunder," "therein," "thereof' or words of like import referring to the Agreement shall mean and refer to the Agreement as amended by this Amendment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>Miscellaneous</u>. This Amendment and any action, suit, dispute, controversy or claim arising out of this Amendment, or the validity, interpretation, breach or termination of this Amendment, shall be governed by and construed in accordance with the internal law of the State of Delaware regardless of the law that might otherwise govern under applicable principles of conflicts of law thereof. This Amendment and all of the provisions hereof shall be binding upon and inure to the benefit of the parties hereto and their respective permitted successors and assigns. This Amendment may not be amended, changed, supplemented, waived or otherwise modified, except upon the execution and delivery of a written agreement executed by the parties hereto. This Amendment may be executed in counterparts, all of which shall be considered one and the same document and shall become effective when such counterparts have been signed by each of the parties hereto and delivered to the other parties hereto, it being understood that all parties need not sign the same counterpart. Delivery by electronic transmission to counsel for the other parties of a counterpart executed by a party shall be deemed to meet the requirements of the previous sentence. The exchange of a fully executed Amendment (in counterparts or otherwise) in pdf, DocuSign or similar format and transmitted by facsimile or email shall be constitute an original, and all of which taken together shall constitute one and the same instrument. This Amendment and the agreements referenced herein and in the Agreement constitute the entire agreement and understanding of the parties hereto in respect of the subject matter hereof and supersedes all prior understandings, agreements or representations by or among the parties hereto to the extent they relate in any way to the subject matter hereof.

[*Signature Page Follows*]

IN WITNESS WHEREOF, the parties hereto have each caused this Amendment No. 1 to Sponsor Agreement to be duly executed as of the date first written above.

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| | | |
|:---|:---|:---|
| COHEN CIRCLE ACQUISITION CORP. I | COHEN CIRCLE ACQUISITION CORP. I | COHEN CIRCLE ACQUISITION CORP. I |
| By: | <u>/s/ Betsy Z. Cohen</u> | <u>/s/ Betsy Z. Cohen</u> |
|  | Name: | Betsy Z Cohen |
|  | Title: | Chairman and Chief Executive Officer |

---

[*Signature Page to Amendment No. 1 to Sponsor Agreement*]

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| | | |
|:---|:---|:---|
| COHEN CIRCLE SPONSOR I, LLC | COHEN CIRCLE SPONSOR I, LLC | COHEN CIRCLE SPONSOR I, LLC |
| By: | /s/ Betsy Z. Cohen | /s/ Betsy Z. Cohen |
|  | Name: | Betsy Z. Cohen |
|  | Title: | Manager |

---

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| | | |
|:---|:---|:---|
| COHEN CIRCLE ADVISORS I, LLC | COHEN CIRCLE ADVISORS I, LLC | COHEN CIRCLE ADVISORS I, LLC |
| By: | /s/ Betsy Z. Cohen | /s/ Betsy Z. Cohen |
|  | Name: | Betsy Z. Cohen |
|  | Title: | Manager |

---

[*Signature Page to Amendment No. 1 to Sponsor Agreement*]

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| | | |
|:---|:---|:---|
| CANTOR FITZGERALD & CO. | CANTOR FITZGERALD & CO. | CANTOR FITZGERALD & CO. |
| By: | /s/ Sage Kelly | /s/ Sage Kelly |
|  | Name: | Sage Kelly |
|  | Title: | Global Head of Investment Banking |

---

[*Signature Page to Amendment No. 1 to Sponsor Agreement*]

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| | | |
|:---|:---|:---|
| KYIVSTAR GROUP LTD. | KYIVSTAR GROUP LTD. | KYIVSTAR GROUP LTD. |
| By: | <u>/s/ Kaan Terzioglu</u> | <u>/s/ Kaan Terzioglu</u> |
|  | Name: | Kaan Terzioglu |
|  | Title: | Director |

---

[*Signature Page to Amendment No. 1 to Sponsor Agreement*]

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| | | |
|:---|:---|:---|
| VEON AMSTERDAM B.V. | VEON AMSTERDAM B.V. | VEON AMSTERDAM B.V. |
| By: | <u>/s/ Kaan Terzioglu</u> | <u>/s/ Kaan Terzioglu</u> |
|  | Name: | Kaan Terzioglu |
|  | Title: | Director |

---

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| | | |
|:---|:---|:---|
| By: | <u>/s/ Maciej Wojtaszek</u> | <u>/s/ Maciej Wojtaszek</u> |
|  | Name: | Maciej Wojtaszek |
|  | Title: | Director |

---

[*Signature Page to Amendment No. 1 to Sponsor Agreement*]