Polar Asset reports 1.2M shares in Proem Acquisition (PAAC)

Rhea-AI Filing Summary

Polar Asset Management Partners Inc. reported beneficial ownership of 1,200,000 Class A ordinary shares of Proem Acquisition Corp I, representing 6.5% of the class. The filing states these shares are held through Polar's advisory relationship with Polar Multi-Strategy Master Fund and that the Reporting Person "may be deemed to beneficially own" shares convertible from units.

Insights

Institutional Ownership Analyst

Large passive stake disclosed: 1.2M shares (6.5%) held via advisory client.

Polar Asset Management Partners reports beneficial ownership of 1,200,000 shares, shown as 6.5% of Proem Acquisition Corp I's Class A. The filing attributes holdings to its advisory role for Polar Multi-Strategy Master Fund and notes potential convertibility of underlying units.

Cash‑flow treatment and any planned dispositions are not stated in the excerpt; subsequent filings would show trading activity if holders transact.

Regulatory / Compliance Specialist

Disclosure aligns with beneficial‑owner reporting requirements under Schedule 13G.

The statement lists voting and dispositive power as sole for 1,200,000 shares and provides the Reporting Person's address and registration status. The filing is signed by the Chief Compliance Officer, indicating standard compliance protocol.

Qualifiers include that the Reporting Person "may be deemed" to own shares via convertible units; this legal language affects attribution and should be noted in any aggregation analysis.

Key Figures

Beneficial ownership: 1,200,000 shares Percent of class: 6.5% CUSIP: G7341A129 +3 more

6 metrics

Beneficial ownership 1,200,000 shares Class A ordinary shares

Percent of class 6.5% Percent of Class A ordinary shares

CUSIP G7341A129 Identifier for Class A ordinary shares

Voting power (sole) 1,200,000 shares Sole power to vote or direct the vote

Dispositive power (sole) 1,200,000 shares Sole power to dispose or direct disposition

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

Key Terms

Beneficially own, Class A ordinary shares, CUSIP, Convertible units

4 terms

Beneficially own regulatory

"The Reporting Person may be deemed to beneficially own the reported shares"

Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.

Class A ordinary shares financial

"Title of class of securities: Class A ordinary shares, par value $0.0001"

Class A ordinary shares are a type of ownership stake in a company that typically grants voting rights to shareholders, allowing them to have a say in important company decisions. They often come with priority in receiving dividends or profits, making them attractive to investors seeking influence and potential income. These shares help distinguish different levels of ownership and rights within a company's stock structure.

CUSIP financial

"CUSIP Number(s): G7341A129"

A CUSIP is a nine-character alphanumeric code that uniquely identifies a U.S. or Canadian financial security—such as a stock, bond, or fund share—like a Social Security number for an investment. It matters to investors because brokers, exchanges and record-keepers use the CUSIP to match trades, track ownership, settle transactions and pull accurate records, reducing errors and ensuring money and securities go to the right place.

Convertible units financial

"ownership of units that are convertible into or include Class A ordinary shares"

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/15/2026 - 01:08 PM Learn about SEC filing dates

FAQ

What stake in Proem Acquisition Corp I does Polar Asset Management report (PAAC)?

Polar Asset Management reports beneficial ownership of 1,200,000 Class A ordinary shares, representing 6.5% of the class. The shares are reported in connection with its advisory role to Polar Multi-Strategy Master Fund and may be tied to convertible units.

Does the Schedule 13G from Polar indicate voting or disposal power for the shares?

Yes. The filing states the Reporting Person has sole voting power and sole dispositive power over 1,200,000 shares. Shared voting and dispositive powers are reported as 0 in the excerpt.

Are the shares held directly by Polar Asset Management or through a fund?

The filing attributes the holdings to Polar in its capacity as investment advisor to Polar Multi-Strategy Master Fund. It states Polar "may be deemed to beneficially own" the shares due to ownership of units convertible into or including Class A ordinary shares.

What identifier and class are listed for the shares in the filing?

The filing lists the securities as Class A ordinary shares, par value $0.0001 with CUSIP G7341A129. The issuer named is Proem Acquisition Corp I and the class label is explicitly provided.

When was the Schedule 13G signed and who signed it for Polar Asset Management?

The Schedule 13G excerpt shows a signature by Andrew Ma, Chief Compliance Officer with a signature date of 05/15/2026 included on the filing excerpt.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Proem Acquisition Corp I

(Name of Issuer)

Class A ordinary shares, par value $0.0001

(Title of Class of Securities)

G7341A129

(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): G7341A129

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 1,200,000.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 1,200,000.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,200,000.00

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)

6.5 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Proem Acquisition Corp I
(b)	Address of issuer's principal executive offices: 3860 W. Northwest Hwy, Suite 470, Dallas, TX 75220
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
(e)	CUSIP Number(s): G7341A129
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: 1,200,000 (The Reporting Person may be deemed to beneficially own the reported shares by virtue of its ownership of units that are convertible into or include Class A ordinary shares.)
(b)	Percent of class: 6.5 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 1,200,000
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 1,200,000
	(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