Polar Asset Management Discloses 1.58M Shares in Namib Minerals (2.9%)

Rhea-AI Filing Summary

Namib Minerals (f/k/a Hennessy Capital Investment Corp VI) had a Schedule 13G reported by Polar Asset Management Partners Inc. The filing discloses beneficial ownership of 1,581,054 shares, including the exercise of warrants, representing 2.9% of the company’s ordinary shares. Polar reports sole voting and dispositive power over these shares and identifies itself as an investment adviser.

The statement notes the securities were acquired and are held in the ordinary course of business and were not acquired to change or influence control of the issuer. The shares are directly held by Polar Multi-Strategy Master Fund, for which Polar serves as investment adviser. No group affiliations or control transactions are reported.

Insights

Financial Analyst

TL;DR: Passive 2.9% stake disclosed; below 5% threshold, so limited immediate market or control implications.

Polar Asset Management reports ownership of 1,581,054 shares (2.9%), including warrants, with sole voting and dispositive power. Because the filing is a Schedule 13G and the filer expressly states the holdings are in the ordinary course and not to influence control, this is consistent with a passive disclosure rather than an activist or control-seeking position. The size of the stake is material enough to warrant disclosure but remains below thresholds that typically trigger heightened regulatory or market scrutiny.

Corporate Governance Expert

TL;DR: Disclosure improves transparency; no shared voting power or group status, and no indication of control intent.

The filing shows Polar holds sole voting and dispositive power over the reported shares, and it identifies the direct holder as Polar Multi-Strategy Master Fund. There is no shared power, no group designation, and an explicit certification that the position is not held to change control. From a governance perspective, this filing signals ownership concentration by one institutional adviser but does not indicate an imminent governance or board challenge.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

Namib Minerals (f/k/a Hennessy Capital Investment Corp VI)

(Name of Issuer)

Ordinary Shares, par value $0.0001 per share

(Title of Class of Securities)

G63638103

(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. G63638103

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 1,581,054.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 1,581,054.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,581,054.00

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)

2.9 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Namib Minerals (f/k/a Hennessy Capital Investment Corp VI)
(b)	Address of issuer's principal executive offices: 71 Fort Street, PO Box 500, Grand Cayman, Cayman Islands, KY1-11061
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 No.: G63638103
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: 1,581,054, including the exercise of warrants
(b)	Percent of class: 2.9 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 1,581,054, including the exercise of warrants
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 1,581,054, including the exercise of warrants
	(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

Who filed the Schedule 13G for Namib Minerals (NAMMW)?

The filing was made by Polar Asset Management Partners Inc., an investment adviser based in Ontario, Canada.

How many Namib Minerals shares does Polar Asset Management report owning?

Polar reports beneficial ownership of 1,581,054 shares, including the exercise of warrants.

What percentage of Namib Minerals does the reported stake represent?

The reported position represents 2.9% of the class of ordinary shares.

Does the filing indicate Polar seeks to influence control of Namib Minerals?

No. The filing includes a certification that the securities were not acquired and are not held for the purpose of changing or influencing control.

Which entity directly holds the shares reported in the filing?

The shares are directly held by Polar Multi-Strategy Master Fund, for which Polar Asset Management serves as investment adviser.