Cohen Circle jumps as Kyivstar merger completion nears

Shares of Betsy Cohen's special purpose acquisition company Cohen Circle Acquisition Corp I CCIR.O jump 14.4% to $11.93

Kyivstar signed a deal in March with CCIR to go public on Nasdaq through a $2.2 billion SPAC transaction

Kyivstar is expected to raise up to $200 million in the landmark U.S. listing, Reuters reported on Monday, citing three sources familiar with the matter

Separately, CCIR on Monday revealed the business combination with Kyivstar is expected to take place on or about August 14

Holders of about 25% of CCIR shares exercised their right to redeem shares for cash

Once a merger is announced, SPAC's public shareholders can vote against the transaction and choose to redeem their shares

CCIR has a free float of 23.3 million shares, according to data compiled by LSEG