Polar takes 6.1% position in M3-Brigade Acquisition V (MBAV) shares

Rhea-AI Filing Summary

Polar Asset Management Partners Inc. filed a Schedule 13G showing beneficial ownership of 1,757,441 Class A ordinary shares of M3-Brigade Acquisition V Corp., equal to 6.1% of the class as of December 31, 2025. Polar reports sole voting and dispositive power over these shares and certifies they are held in the ordinary course of business, not to change or influence control of the company.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

M3-Brigade Acquisition V Corp.

(Name of Issuer)

Class A ordinary shares, par value $0.0001 per share

(Title of Class of Securities)

G63212107

(CUSIP Number)

12/31/2025

(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. G63212107

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 1,757,441.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 1,757,441.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,757,441.00

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)

6.1 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: M3-Brigade Acquisition V Corp.
(b)	Address of issuer's principal executive offices: 1700 Broadway, 19th Floor, New York, New York, 10019
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.: G63212107
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: 1757441
(b)	Percent of class: 6.1 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 1757441
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 1757441
	(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:	02/17/2026

FAQ

What does the MBAV Schedule 13G filed by Polar Asset Management Partners report?

The Schedule 13G reports that Polar Asset Management Partners Inc. beneficially owns 1,757,441 Class A ordinary shares of M3-Brigade Acquisition V Corp. (MBAV), representing 6.1% of that share class, with sole voting and dispositive power over all reported shares.

Who is the reporting person in the MBAV Schedule 13G filing?

The reporting person is Polar Asset Management Partners Inc., an Ontario, Canada company that serves as investment adviser to Polar Multi-Strategy Master Fund, the fund that directly holds the MBAV shares, and is registered with the Ontario Securities Commission in multiple manager and dealer capacities.

How many M3-Brigade Acquisition V Corp. shares does Polar beneficially own?

Polar beneficially owns 1,757,441 MBAV Class A ordinary shares. The filing states Polar has sole voting power and sole dispositive power over all of these shares, with no shared voting or shared dispositive authority reported for this position.

What percentage of MBAV’s Class A shares does Polar’s stake represent?

Polar’s reported stake represents 6.1% of MBAV’s outstanding Class A ordinary shares. Crossing the 5% threshold requires this Schedule 13G disclosure, indicating Polar is a significant, but not controlling, shareholder in this class of the company’s equity.

Is Polar’s MBAV investment intended to influence control of the company?

No. Polar certifies that the MBAV securities were acquired and are held in the ordinary course of business and were not acquired, and are not held, to change or influence control of M3-Brigade Acquisition V Corp., consistent with a passive investment stance.

When did Polar’s MBAV ownership level trigger the Schedule 13G requirement?

The filing lists December 31, 2025 as the date of the event requiring the statement. That date reflects when Polar’s beneficial ownership in MBAV’s Class A ordinary shares reached a level that required public disclosure on Schedule 13G.