Polar AM Reports 280,569 Shares (1.2%) in GSR III

Rhea-AI Filing Summary

Polar Asset Management Partners Inc. reported beneficial ownership of 280,569 Class A ordinary shares of GSR III Acquisition Corp., representing 1.2% of the class. The filing states Polar holds sole voting and sole dispositive power over these shares and that the position is held in the ordinary course of business through its advisory role to a fund.

The statement is a Schedule 13G disclosure by an investment adviser and confirms the stake is not held for the purpose of changing or influencing control of the issuer. No larger ownership, transactions, or material arrangements beyond the reported stake are disclosed in the document.

Insights

Securities Analyst

TL;DR: A small, passive 1.2% stake is disclosed with sole voting/dispositive power; not a control play.

Polar Asset Management reports direct beneficial ownership of 280,569 shares in GSR III, equal to 1.2% of the class. The filing classifies the position as held in the ordinary course of business and disavows intent to influence control. For investors, this is a routine disclosure from an investment adviser rather than an indicator of strategic involvement or M&A activity. The size is below 5%, so it does not trigger thresholds that typically signal significant activism or control ambitions.

Corporate Governance Expert

TL;DR: Ownership is clearly documented and accompanied by a certification of non-control intent.

The Schedule 13G indicates Polar has sole voting and dispositive power over the reported shares and explicitly certifies they were not acquired to influence control. This classification aligns with passive institutional holdings under Schedule 13G reporting standards. From a governance perspective, the disclosure provides transparency on a modest stake but does not suggest changes to board composition, voting outcomes, or governance influence at current levels.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

GSR III Acquisition Corp.

(Name of Issuer)

Class A ordinary shares, par value $0.0001 per share

(Title of Class of Securities)

G4R103107

(CUSIP Number)

06/30/2025

(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)

SCHEDULE 13G

CUSIP No. G4R103107

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 280,569.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 280,569.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

280,569.00

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)

1.2 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: GSR III Acquisition Corp.
(b)	Address of issuer's principal executive offices: 5900 Balcones Drive, Suite 100, Austin, TX, 78731
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: Class A ordinary shares, par value $0.0001 per share
(e)	CUSIP No.: G4R103107
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: 280569
(b)	Percent of class: 1.2 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 280569
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 280569
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
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:	08/14/2025

FAQ

How many GSR III shares does Polar Asset Management own (GSRTU)?

Polar Asset Management beneficially owns 280,569 shares of GSR III Class A ordinary shares.

What percentage of GSR III does Polar Asset Management's holding represent?

The reported holding represents 1.2% of the Class A ordinary shares outstanding.

Does Polar Asset Management have voting power over the shares it reports?

Yes. The filing lists sole voting power and sole dispositive power for the 280,569 shares.

Is the stake held to influence control of GSR III?

No. The filing includes a certification stating the shares were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.

Did Polar file this disclosure as an institutional investor or an individual?

The reporting person is Polar Asset Management Partners Inc., an investment adviser and fund manager incorporated in Canada.

Does the filing indicate ownership on behalf of other entities or a group?

No. The filing indicates not applicable for ownership on behalf of another person and does not identify any group members.