Kyivstar Group Ltd美股招股说明书(2025-09-12版)

Thisprospectus supplement updates,amends and supplements the prospectusdatedJuly22,2025(the“Prospectus”)which forms a part of ourRegistrationStatement on FormF-4(Registration Statement No.333-287802).This prospectus supplement is being filed to update,amend andsupplementthe information previously included in the Prospectus with theinformation attached to this prospectus supplement. Thisprospectus supplement updates,amends and supplements the informationinthe Prospectus and is not complete without,and may not be delivered orutilizedexceptincombinationwith,theProspectus,includinganyamendmentsor supplements thereto.This prospectus supplement should bereadin conjunction with the Prospectus and if there is any inconsistencybetweenthe information in the Prospectus and this prospectus supplement,you should rely on the information in this prospectus supplement. Ourcommon shares are trading on the Nasdaq Stock Market LLC(“Nasdaq”)underthe symbol“KYIV.”On September11,2025,the last reported saleprice of our common shares was $11.75 per share. I n v e s t i n gi n o u r s e c u r i t i e s i n v o l v e s a h i g h d e g r e e o f r i s k .S e e“R i s k F a c t o r s”b e g i n n i n g o n p a g e2 2o f t h e P r o s p e c t u s f o r ad i s c u s s i o no f i n f o r m a t i o n t h a t s h o u l d b e c o n s i d e r e d i n c o n n e c t i o nw i t ha n i n v e s t m e n t i n o u r s e c u r i t i e s . N e i t h e rt h eS e c u r i t i e sa n dE x c h a n g eC o m m i s s i o nn o ra n ys t a t es e c u r i t i e sc o m m i s s i o nh a sa p p r o v e do rd i s a p p r o v e do ft h e s es e c u r i t i e so rd e t e r m i n e di ft h eP r o s p e c t u so rt h i sp r o s p e c t u ss u p p l e m e n ti st r u t h f u lo rc o m p l e t e .A n yr e p r e s e n t a t i o nt ot h ec o n t r a r yi s a c r i m i n a l o f f e n s e . The date of this prospectus supplement is September12, 2025. USEOF PROCEEDS Wewill receive up to an aggregate of$88,166,233.50 from the exercise of theWarrantsat an exercise price of$11.50 per Common Share,assuming the exercise infullof all 7,666,629 of our outstanding Warrants for cash.To the extent that anywarrantsare exercised on a“cashless basis”under the limited circumstances inwhichsuch exercises are permitted,the amount of cash we would receive from theexercise of the warrants will decrease. The holders of the Warrants are not obligatedtoexercise any or all of their Warrants,and there is no assurance that they willelectto do so.We will receive the proceeds from any cash exercise of the Warrants,butnot from the sale of the underlying Common Shares.If the price of our CommonSharesis below$11.50(the exercise price of our Warrants),holders of our Warrantswillbe unlikely to exercise their Warrants,resulting in little to no cash proceedsto us. Weexpect to use the net proceeds from the exercise of the Warrants,if any,forgeneralcorporate purposes.We will have broad discretion over the use of anyproceeds from the exercise of the Warrants. CAPITALIZATION The following table sets forth our capitalization as of June30, 2025 on: •a historical basis for VEON Holdings B.V. and•ona pro forma basis,after giving effect to the Transactions.See“UnauditedProFormaCondensedCombinedFinancialInformation”forinformationregarding the basis for the pro forma calculations,includingthe assumptions and adjustments in respect thereof. Theinformation in this table should be read in conjunction with the financialstatementsand notes thereto and other financial information included in thisprospectusand any prospectus supplement and the information under“Management’sDiscussionand Analysis of Financial Condition and Results of Operations”.Ourhistoricalresults do not necessarily indicate our expected results for any futureperiods. Introduction Theunaudited pro forma condensed combined financial information of Kyivstar GroupLtd. has been prepared in accordance with Article11 of Regulation S-X as amended bythe final rule, Release33-10786“Amendments to Financial Disclosures about AcquiredandDisposed Businesses”and presents the combination of the historical financialinformation of VEON Holdings and Cohen Circle adjusted to give effect to the BusinessCombination. Theunaudited pro forma condensed combined statement of financial position as ofJune30, 2025 combines (i)the historical unaudited combined statement of financialpositionof VEON Holdings as of June30,2025,with(ii)thehistorical unauditedbalancesheet of Cohen Circle as of June30,2025 and with(iii)thehistoricalunaudited statement of financial position of Kyivstar Group Ltd. as of June30, 2025ona pro forma basis as if the Business Combination and other events,summarizedbelow, had been consummated as of June30, 2025. Theunaudited pro forma condensed combined income statement for the six-month periodended June30, 2025 combines (i)the historical unaudited combined income statementofVEON Holdings for the six-month period ended June30,2025,with(ii)thehistorical u