Polar Asset (NASDAQ: CAPN) reports 275,000 shares (5.2%) stake

Rhea-AI Filing Summary

Cayson Acquisition Corp ownership disclosure: Polar Asset Management Partners Inc. reports beneficial ownership of 275,000 ordinary shares of Cayson Acquisition Corp, representing 5.2% of the class. The filing (CUSIP G1993W109) is signed by the reporting person’s Chief Compliance Officer on 05/15/2026.

The statement identifies Polar as investment advisor to Polar Multi-Strategy Master Fund and shows sole voting and dispositive power over 275,000 shares.

Insights

Institutional Ownership Analyst

Large passive stake disclosed: 275,000 shares, 5.2% ownership.

Polar Asset Management Partners Inc. reports beneficial ownership of 275,000 shares of Cayson Acquisition Corp with sole voting and dispositive power. The filing attributes the position to Polar as adviser to Polar Multi-Strategy Master Fund.

Implications depend on Polar’s trading intentions; subsequent filings would show changes. The 05/15/2026 signature anchors the reported position.

Compliance & Regulatory Specialist

Schedule 13G filing signals passive reporting under Section 13

The form is a Schedule 13G-style beneficial ownership disclosure naming the reporting entity and providing CUSIP G1993W109. It lists sole voting/dispositive power of 275,000 shares and percent ownership of 5.2%.

Futures filings may be required if ownership crosses thresholds or if the holder changes intent; the filing is dated 05/15/2026.

Key Figures

Beneficial ownership: 275,000 shares Percent of class: 5.2 % CUSIP: G1993W109 +2 more

5 metrics

Beneficial ownership 275,000 shares Amount beneficially owned reported on Schedule 13G

Percent of class 5.2 % Percent of class as stated in Item 4(b)

CUSIP G1993W109 Identifier for Ordinary Shares, par value $0.0001

Sole voting power 275,000 shares Sole power to vote or direct the vote (Item 4(c)(i))

Filing signature date 05/15/2026 Signature date by Chief Compliance Officer

Key Terms

Schedule 13G, Beneficially owned, Sole Dispositive Power

3 terms

Schedule 13G regulatory

"Item 1. and header identifying the filing type"

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

Beneficially owned regulatory

"Item 4. (a) Amount beneficially owned: 275000"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

Sole Dispositive Power regulatory

"Item 4. (c)(iii) Sole power to dispose or to direct the disposition of: 275000"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Cayson Acquisition Corp

(Name of Issuer)

Ordinary Shares, par value $0.0001 per share

(Title of Class of Securities)

G1993W109

(CUSIP Number)

03/31/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): G1993W109

1

Names of Reporting Persons

Polar Asset Management Partners Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

ONTARIO, CANADA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 275,000.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 275,000.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

275,000.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.2 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Cayson Acquisition Corp
(b)	Address of issuer's principal executive offices: 205 W 37th St, New York, New York, 10018
Item 2.
(a)	Name of person filing: This statement is filed by Polar Asset Management Partners Inc., a company incorporated under the laws of Ontario, Canada, which serves as the investment advisor to Polar Multi-Strategy Master Fund, a Cayman Islands exempted company ("PMSMF") with respect to the shares directly held by PMSMF.
(b)	Address or principal business office or, if none, residence: 16 York Street, Suite 2900, Toronto, Ontario, M5J 0E6
(c)	Citizenship: Canada
(d)	Title of class of securities: Ordinary Shares, par value $0.0001 per share
(e)	CUSIP Number(s): G1993W109
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
	The Reporting Person is an investment fund manager, portfolio manager, exempt market dealer and commodity trading manager registered with the Ontario Securities Commission.
Item 4.	Ownership
(a)	Amount beneficially owned: 275000
(b)	Percent of class: 5.2 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 275000
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 275000
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Polar Asset Management Partners Inc.

Signature:	Andrew Ma
Name/Title:	Chief Compliance Officer
Date:	05/15/2026

FAQ

What stake does Polar Asset report in Cayson Acquisition Corp (CAPN)?

Polar Asset reports beneficial ownership of 275,000 ordinary shares, equal to 5.2% of the class as disclosed in the filing signed on 05/15/2026. The position is held with sole voting and dispositive power.

Which fund holds the shares reported by Polar Asset in CAPN?

The filing states Polar Asset is adviser to Polar Multi-Strategy Master Fund, which directly holds the reported shares. The reporting person is Polar Asset Management Partners Inc., per the Schedule 13G text.

Who can vote or dispose of the 275,000 CAPN shares reported?

The Schedule 13G shows the reporting person has sole power to vote and sole power to dispose of all 275,000 shares, with zero shared voting or dispositive power listed in the filing.

What CUSIP and official class are disclosed for CAPN in this filing?

The filing identifies the security as Ordinary Shares, par value $0.0001 with CUSIP G1993W109, connected to issuer Cayson Acquisition Corp as shown in the Schedule 13G excerpt.

When was the Capn ownership position certified in the filing?

The Schedule 13G excerpt is signed by Polar’s Chief Compliance Officer on 05/15/2026, which serves as the attestation date for the reported beneficial ownership figures.