Form 4: Polar Asset Management Partners Inc. Reports Acquisition of ShoulderUP Technology Acquisition Corp. Shares

Polar Asset Management Partners Inc. acquired 100,000 shares of ShoulderUP Technology Acquisition Corp., bringing their total holdings to 500,000 shares.

Summary

• Polar Asset Management Partners Inc. reported the acquisition of 100,000 Class A common stock shares of ShoulderUP Technology Acquisition Corp. on November 19, 2024.
• The shares were purchased at a price of $10.71 per share.
• Following the transaction, Polar Asset Management Partners Inc. indirectly beneficially owns 500,000 shares of ShoulderUP Technology Acquisition Corp.
• The shares are held by Polar Multi-Strategy Master Fund, for which Polar Asset Management Partners Inc. serves as investment advisor.
• Polar Asset Management Partners Inc. disclaims beneficial ownership of these securities except to the extent of their pecuniary interest.
• Based on the Issuer's current Class A shares outstanding as disclosed in the Form 8-K filed on November 20, 2024, the Reporting Person is no longer subject to Section 16. Form 4 obligations.

Sentiment

Score: 6

Explanation: The document is a routine filing of a share purchase, indicating a neutral sentiment. There is no indication of any positive or negative sentiment.

Positives

• The acquisition of 100,000 shares indicates a continued investment by Polar Asset Management Partners Inc. in ShoulderUP Technology Acquisition Corp.

Management Comments

• Polar Asset Management Partners Inc. disclaims beneficial ownership of these securities, except to the extent of their pecuniary interest.

Industry Context

This filing is a standard SEC Form 4, which is required when there are changes in beneficial ownership of a company's securities by insiders or significant shareholders. It reflects the ongoing trading activity of institutional investors in the market.

Comparison to Industry Standards

• Form 4 filings are a common occurrence for publicly traded companies, and this transaction is typical of institutional investors adjusting their positions.
• The purchase of 100,000 shares is a moderate transaction size, and the price of $10.71 is within the expected range for this type of stock.

Stakeholder Impact

• The transaction may have a minor positive impact on shareholder confidence due to the increased investment by a large institutional investor.

Key Dates

Keywords

Polar Asset Management Partners Inc., ShoulderUP Technology Acquisition Corp., Class A common stock, beneficial ownership, investment, acquisition, shares, Form 4, Section 16