VEON and Cohen Circle Secure Investor Commitments for Kyivstar Listing
VEON Ltd. (Nasdaq: VEON) and Cohen Circle Acquisition Corp. (Nasdaq: CCIR) have secured non-redemption agreements totaling $52.3 million for the proposed Kyivstar Group listing. The agreements, involving institutional investors Helikon and Clearline, cover approximately 5.05 million CCIR Class A shares.
The business combination is expected to close in Q3 2025, subject to shareholder approval and other conditions. Upon completion, Kyivstar Group will be listed on Nasdaq under the ticker "KYIV", becoming the first pure-play Ukrainian company listed on a U.S. stock exchange.
VEON Ltd. (Nasdaq: VEON) e Cohen Circle Acquisition Corp. (Nasdaq: CCIR) hanno ottenuto accordi di non rimborso per un totale di 52,3 milioni di dollari in vista della proposta quotazione del Kyivstar Group. Gli accordi, che coinvolgono gli investitori istituzionali Helikon e Clearline, riguardano circa 5,05 milioni di azioni di Classe A CCIR.
La fusione aziendale 猫 prevista per il terzo trimestre del 2025, subordinata all'approvazione degli azionisti e ad altre condizioni. Al completamento, Kyivstar Group sar脿 quotata al Nasdaq con il simbolo "KYIV", diventando la prima societ脿 ucraina pura quotata in una borsa valori statunitense.
VEON Ltd. (Nasdaq: VEON) y Cohen Circle Acquisition Corp. (Nasdaq: CCIR) han asegurado acuerdos de no redenci贸n por un total de 52,3 millones de d贸lares para la propuesta de cotizaci贸n del Kyivstar Group. Los acuerdos, que involucran a los inversores institucionales Helikon y Clearline, cubren aproximadamente 5,05 millones de acciones Clase A de CCIR.
Se espera que la combinaci贸n empresarial se cierre en el tercer trimestre de 2025, sujeto a la aprobaci贸n de los accionistas y otras condiciones. Una vez completado, Kyivstar Group cotizar谩 en Nasdaq bajo el s铆mbolo "KYIV", convirti茅ndose en la primera compa帽铆a ucraniana pura que cotiza en una bolsa estadounidense.
VEON Ltd. (Nasdaq: VEON)鞕赌 Cohen Circle Acquisition Corp. (Nasdaq: CCIR)電� 鞝滌晥霅� Kyivstar Group 靸侅灔鞚� 鞙勴暣 齑� 5,230毵� 雼煬 攴滊鞚� 牍勳儊頇� 瓿勳暯鞚� 頇曤炒頄堨姷雼堧嫟. 鞚� 瓿勳暯鞚� 旮瓣磤 韴瀽鞛愳澑 Helikon瓿� Clearline鞚� 彀胳棳頄堨溂氅�, 鞎� 505毵� CCIR 韥措灅鞀� A 欤检嫕鞐� 頃措嫻頃╇媹雼�.
靷梾 瓴绊暕鞚� 欤检＜ 鞀轨澑 氚� 旮绊儉 臁瓣贝鞚� 於╈”頃橂姅 瓴冹潉 鞝勳牅搿� 2025雲� 3攵勱赴鞐� 鞕勲霅� 鞓堨爼鞛呺媹雼�. 鞕勲 鞁� Kyivstar Group鞚� Nasdaq鞐� "KYIV"霛茧姅 韹办护搿� 靸侅灔霅橃柎 氙戈淡 歃濎嫓鞐� 靸侅灔霅� 斓滌磮鞚� 靾滌垬 鞖绊伂霛检澊雮� 旮办梾鞚� 霅╇媹雼�.
VEON Ltd. (Nasdaq : VEON) et Cohen Circle Acquisition Corp. (Nasdaq : CCIR) ont obtenu des accords de non-rachat totalisant 52,3 millions de dollars pour la cotation propos茅e du Kyivstar Group. Ces accords, impliquant les investisseurs institutionnels Helikon et Clearline, couvrent environ 5,05 millions d鈥檃ctions de classe A CCIR.
La fusion d鈥檈ntreprise devrait 锚tre finalis茅e au 3e trimestre 2025, sous r茅serve de l鈥檃pprobation des actionnaires et d鈥檃utres conditions. Une fois termin茅e, Kyivstar Group sera cot茅e au Nasdaq sous le symbole "KYIV", devenant ainsi la premi猫re entreprise purement ukrainienne cot茅e sur une bourse am茅ricaine.
VEON Ltd. (Nasdaq: VEON) und Cohen Circle Acquisition Corp. (Nasdaq: CCIR) haben Nicht-R眉cknahmevereinbarungen in H枚he von insgesamt 52,3 Millionen US-Dollar f眉r die geplante Notierung der Kyivstar Group gesichert. Die Vereinbarungen, an denen die institutionellen Investoren Helikon und Clearline beteiligt sind, umfassen etwa 5,05 Millionen CCIR Class A Aktien.
Die Unternehmenszusammenf眉hrung soll im dritten Quartal 2025 abgeschlossen werden, vorbehaltlich der Zustimmung der Aktion盲re und weiterer Bedingungen. Nach Abschluss wird die Kyivstar Group unter dem Tickersymbol "KYIV" an der Nasdaq gelistet und damit das erste reine ukrainische Unternehmen an einer US-B枚rse sein.
- Secured $52.3 million in non-redemption agreements, exceeding minimum $50 million cash condition
- First pure-play Ukrainian company to be listed on U.S. stock exchange
- Support from established institutional investors including Helikon and Clearline
- Transaction still subject to shareholder approval and closing conditions
- Potential geopolitical risks associated with Ukrainian market exposure
Insights
VEON secures $52.3M in commitments for Kyivstar's SPAC merger, meeting key cash condition for upcoming Nasdaq listing.
VEON has successfully secured
The transaction represents a landmark moment for Ukrainian business presence in global capital markets, as Kyivstar would become the first pure-play Ukrainian company to list on a U.S. exchange. The business combination is proceeding on schedule with an anticipated closing in Q3 2025, subject to standard shareholder approvals and closing conditions.
The structure as a SPAC merger provides VEON with a more efficient pathway to create a publicly-traded entity for its Ukrainian telecommunications assets compared to a traditional IPO process. The non-redemption agreements are particularly significant in the current SPAC environment, where high redemption rates have derailed many proposed combinations. By securing these commitments from sophisticated institutional investors like Helikon and Clearline, VEON has demonstrated meaningful market confidence in Kyivstar's standalone investment proposition.
The transaction marks a significant milestone in VEON's asset optimization strategy, potentially unlocking value by establishing separate market valuations for its various operating companies rather than having them valued collectively under the VEON umbrella.
Kyiv, New York, Dubai, and Philadelphia 鈥� July 10, 2025 鈥� VEON Ltd. (Nasdaq: VEON) (鈥淰EON鈥�), a global digital operator, and Cohen Circle Acquisition Corp. I (鈥淐ohen Circle鈥�), a special purpose acquisition company (Nasdaq: CCIR), today announce the execution of non-redemption agreements (鈥淣RAs鈥�) totaling approximately USD 52.3 million with accredited institutional investors, including Helikon and Clearline. These commitments cover approximately 5.05 million CCIR Class A shares, securing the minimum USD 50 million cash condition for the proposed business combination of Kyivstar Group Ltd (鈥淜yivstar Group鈥�) and Cohen Circle (the 鈥淏usiness Combination鈥�).
The closing of the Business Combination is expected to occur during the third quarter of 2025 and is subject to the approval of Cohen Circle鈥檚 shareholders and other customary closing conditions. Upon completion of the Business Combination, Kyivstar Group is expected to be listed on the Nasdaq Stock Market (鈥淣asdaq鈥�) under the ticker symbol 鈥淜YIV.鈥�
鈥淲e are pleased to see the level of investor support for the listing of Kyivstar Group,鈥� said Kaan Terzioglu, VEON Group CEO. 鈥淲e look forward to completing the business combination and introducing Kyivstar Group as the first pure-play Ukrainian company to be publicly listed on a U.S. stock exchange.鈥�
Betsy Cohen, Chairman and CEO of Cohen Circle Acquisition Corp. I., added, 鈥淭he caliber of investors participating in these agreements further validates our strong conviction in Kyivstar Group鈥檚 long-term potential, and highlights the investment case for this robust success story from Ukraine.鈥�
Cohen Circle鈥檚 units, Class A ordinary shares and warrants are listed on the Nasdaq under the ticker symbols 鈥淐CIRU,鈥� 鈥淐CIR鈥� and 鈥淐CIRW,鈥� respectively.
About Kyivstar Group
Kyivstar Group operates Ukraine's leading digital operator, serving more than 23 million mobile customers and over 1.1 million home internet fixed line customers as of December 31, 2024. Kyivstar Group and its subsidiaries provide services across a wide range of mobile and fixed line technologies, including 4G, big data, cloud solutions, cybersecurity, digital TV, and more. VEON, together with Kyivstar Group, intends to invest USD 1 billion in Ukraine during 2023-2027, through social investments in infrastructure and technological development, charitable donations and strategic acquisitions. Kyivstar Group and its subsidiaries have been operating in Ukraine for more than 27 years. For more information, visit: .
About VEON
VEON is a digital operator that provides converged connectivity and digital services to nearly 160 million customers. Operating across six countries that are home to more than
About Cohen Circle
Cohen Circle Acquisition Corp. I is a special purpose acquisition company sponsored by investment firm Cohen Circle, LLC and formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar Business Combination with one or more technology and/or financial services businesses. Cohen Circle鈥檚 units, Class A ordinary shares and warrants are listed on Nasdaq under the symbols 鈥淐CIRU,鈥� 鈥淐CIR鈥� and 鈥淐CIRW,鈥� respectively.
No Offer or Solicitation
This press release shall not constitute a solicitation of a proxy, consent, or authorization with respect to any securities or in respect of the Business Combination. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
THE DISSEMINATION, PUBLICATION OR DISTRIBUTION OF THIS COMMUNICATION IS PROHIBITED IN ANY JURISDICTION WHERE IT WOULD CONSTITUTE A VIOLATION OF THE RELEVANT APPLICABLE LAW.
Additional Information and Where to Find It
Kyivstar Group Ltd. and VEON Holdings B.V. have filed on June 5, 2025 a registration statement on Form F-4 (File No. 333-287802) (as may be amended from time to time, the 鈥淩egistration Statement) as co-registrants that includes a preliminary proxy statement/prospectus of Cohen Circle and a preliminary prospectus of Kyivstar Group. When available, Cohen Circle will mail a definitive proxy statement/prospectus relating to the business combination and other relevant documents to its shareholders. This communication does not contain all the information that should be considered concerning the business combination and is not intended to provide the basis for any investment decision or any other decision in respect of the business combination. VEON, Cohen Circle and Kyivstar Group may also file other documents regarding the business combination with the SEC. Cohen Circle鈥檚 shareholders and other interested persons are advised to read, when available, the Registration Statement, the proxy statement/prospectus and other documents filed in connection with the business combination, as these materials will contain important information. Investors and shareholders will be able to obtain free copies of the preliminary proxy statement/prospectus, the definitive proxy statement/prospectus and other documents filed or will be filed with the SEC by Cohen Circle through the website maintained by the SEC website at www.sec.gov or by directing a written request to: Cohen Circle Acquisition Corp. I, 2929 Arch Street, Suite 1703, Philadelphia, PA 19104.
Participants in the Solicitation
Cohen Circle, Kyivstar Group, certain shareholders of Cohen Circle, VEON and certain of Cohen Circle鈥檚, Kyivstar Group鈥檚 and VEON鈥檚 respective directors, executive officers and other members of management and employees may, under SEC rules, be deemed to be participants in the solicitation of proxies from the shareholders of Cohen Circle with respect to the proposed business combination. A list of the names of such persons and information regarding their interests in the proposed business combination is set forth in the Registration Statement. Free copies of these documents may be obtained from the sources indicated above.
Forward-Looking Statements
This press release contains 鈥渇orward-looking statements,鈥� as the phrase is defined in Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. These forward-looking statements generally are identified by the words 鈥渁nticipate,鈥� 鈥渂elieve,鈥� 鈥渆stimate,鈥� 鈥渆xpect,鈥� 鈥渇orecast,鈥� 鈥渇uture,鈥� 鈥渋ntend,鈥� 鈥渕ay,鈥� 鈥渙pportunity,鈥� 鈥減lan,鈥� 鈥減roject,鈥� 鈥渟hould,鈥� 鈥渟trategy,鈥� 鈥渨ill,鈥� 鈥渨ill be,鈥� 鈥渨ill continue,鈥� 鈥渨ill likely result,鈥� 鈥渨ould鈥� and similar expressions (including the negative versions of such words or expressions).
Forward-looking 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 press release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements relating to, among other things, timing of the closing of the proposed business combination and the listing of Kyivstar Group鈥檚 common shares and warrants on Nasdaq, the expected investment opportunity in Kyivstar Group following the closing of the Business Combination, including the expectation that Kyivstar Group will be the only pure-play Ukrainian investment opportunity and the growth potential of Kyivstar Group. These statements are based on VEON, Cohen Circle and Kyivstar Group management鈥檚 current expectations. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause Kyivstar Group鈥檚, VEON鈥檚 or Cohen Circle鈥檚 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 press release, including, but not limited to, the occurrence of any event, change or other circumstances that could give rise to the termination of 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 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 Kyivstar Group for trading on Nasdaq; changes in applicable laws or regulations; the escalation or de-escalation of war between Russia and Ukraine; the successful integration of Uklon; continued growth in digital services; and other risks and uncertainties set forth in the section entitled 鈥淩isk Factors鈥� included in the Registration Statement filed by Kyivstar Group with the SEC on June 5, 2025 and in any other subsequent filings with the SEC by Kyivstar Group or Cohen Circle. Forward-looking statements are inherently subject to risks and uncertainties, many of which VEON, Kyivstar and Cohen Circle cannot predict with accuracy and some of which neither VEON, Kyivstar Group nor Cohen Circle might not even anticipate. The forward-looking statements contained in this press release speak only as of the date of this release. VEON, Kyivstar Group and Cohen Circle 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.
Contact Information
VEON
Hande Asik
Group Director of Communications
Kyivstar
Media and Investor Contact:
FAQ
What is the expected ticker symbol for Kyivstar Group after the SPAC merger?
How much funding has been secured for the VEON Kyivstar SPAC deal?
When is the Kyivstar SPAC merger expected to close?
Who are the key investors in the Kyivstar SPAC deal?
What makes the Kyivstar listing historically significant?
