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KLR Energy Acquisition Corp. (KLRE): Polar Asset Management Partners Reports 11% Passive Stake

Published on April 11, 2016 at 4:08 pm by Insider Monkey Staff in Hedge Funds, News

In a recent filing with the US Securities and Exchange Commission, Polar Asset Management Partners reported a passive stake in KLR Energy Acquisition Corp. Class A Common Stock (NASDAQ:KLRE). The filing showed that Polar owns 900,000 Class A shares of KLR Energy Acquisition. KLR Energy Acquisition is a blank check company that recently went public. Another investor that reported a notable position in the company is Andrew Weiss‘ Weiss Asset Management, which disclosed 799,000 units, which consist of a share of class A stock and one warrant.

You can access the original SEC filing by clicking here.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Polar Asset Management Partners Inc 900,000 0 900,000 0 900,000 11.00%

Page 1 of 6 – SEC Filing

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934

(Amendment No.)*

KLR Energy Acquisition Corp.

(Name of Issuer)

Class A common stock
(Title of Class of
Securities)

49877M108
(CUSIP Number)

March 31, 2016
(Date of Event which Requires
Filing of this Statement)

Check the appropriate box to designate the rule pursuant to
which this Schedule is filed:

[ x ] Rule 13d-1(b)

[ ] Rule 13d-1(c)

[ ] Rule 13d-1(d)

(Page 1 of 6 Pages)

*The remainder of this cover page shall be filled out for a
reporting persons initial filing on this form with respect to the subject class
of securities, and for any subsequent amendment containing information which
would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page
shall not be deemed to be filed for the purpose of Section 18 of the
Securities Exchange Act of 1934 (Act) or otherwise subject to the liabilities
of that section of the Act but shall be subject to all other provisions of the
Act (however, see the Notes).

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Page 2 of 6 – SEC Filing


CUSIP No. 49877M108 13G Page 2 of 6 Pages
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
 
     Canada


Number
of
Shares
Beneficially
Owned by Each

Reporting Person
With:


5 Sole Voting Power
 
900,000
6

Shared Voting Power
 
0
7

Sole Dispositive Power

900,000
8 Shared Dispositive Power

0
9 Aggregate Amount Beneficially
Owned by Each Reporting Person
 
900,000
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)
 
11.00%
12 Type of Reporting Person (See
Instructions)
 
IA

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Page 3 of 6 – SEC Filing


CUSIP No. 49877M108 13G Page 3 of 6 Pages

Item 1.

(a)

Name of Issuer:

The name of the issuer is KLR Energy Acquisition Corp.
(the Company).
(b)

Address of Issuers Principal Executive
Offices:

The Companys principal executive offices are located at
811 Main Street, 18th Floor, Houston, Texas 77002.

Item 2.

(a)

Name of Person Filing:

This statement is filed by Polar Asset Management
Partners Inc., a company incorporated under the laws on Ontario, Canada,
which serves as the investment advisor to Polar Multi Strategy Master Fund
(PMSMF), a Cayman Islands exempted company, with respect to the
Shares (as defined below) directly held by PMSMF. The filing of this
statement should not be construed as an admission that the Reporting
Persons is, for the purposes of Section 13 of the Act, the beneficial
owner of the Shares reported herein.
(b)

Address of Principal Business Office or, if None,
Residence:

The address of the business office of the Reporting
Person is 401 Bay Street, Suite 1900, PO Box 19, Toronto, Ontario M5H 2Y4,
Canada.
(c)

Citizenship:

The citizenship of the Reporting Person is set forth
above.
(d)

Title and Class of Securities:

Class A common stock (“Shares“)
(e)

CUSIP No.:

49877M108
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;
(b) [_] Bank as defined in Section 3(a)(6) of the Act;
(c) [_] Insurance company as defined in Section
3(a)(19) of the Act;
(d) [_] Investment company registered under Section 8
of the Investment Company Act of 1940;

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Page 4 of 6 – SEC Filing


CUSIP No. 49877M108 13G Page 4 of 6 Pages
(e) [_] An investment adviser in accordance with Rule
13d-1(b)(1)(ii)(E);
(f) [_] An employee benefit plan or endowment fund in
accordance with Rule 13d-1(b)(1)(ii)(F);
(g) [_] A parent holding company or control person in
accordance with Rule 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;
(j) [X] A non-U.S. institution in accordance with Rule
240.13d-1(b)(1)(ii)(J);
(k) [_] Group, in accordance with Rule
240.13d-1(b)(1)(ii)(K).

If filing as a non-U.S. institution in
accordance with Rule 240.13d -1(b)(1)(ii)(J), please specify the type of
institution:

The Reporting Person is an investment
fund manager registered with the Ontario Securities Commission and a
broker-dealer registered with the Investment Industry Regulatory Organization of
Canada.

Item 4. Ownership

The percentages used herein are
calculated based upon 8,185,320 Shares reported to be outstanding as of March
21, 2016 as reported in the Company’s Form 8-K filed by the Company with the
Securities and Exchange Commission on March 23, 2016.

The information required by Items 4(a)
– (c) is set forth in Rows 5 – 11 of the cover page for the Reporting Person and
is incorporated herein by reference.

Item 5. Ownership of Five Percent or Less of a
Class.
Not applicable.
Item 6. Ownership of more than Five Percent on
Behalf of Another Person.

See Item 2. PMSMF has the right to receive or the power
to direct the receipt of dividends or the proceeds from the sale of more
than 5% of the Shares.

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.

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Page 5 of 6 – SEC Filing


CUSIP No. 49877M108 13G Page 5 of 6 Pages
Not Applicable.
Item 10. Certifications.

By signing below the Reporting Person certifies that, to
the best of its knowledge and belief, (i) 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 and (ii) the foreign
regulatory schemes applicable to investment fund managers and
broker-dealers are substantially comparable to the regulatory schemes
applicable to the functionally equivalent U.S. institutions. The Reporting
Person also undertakes to furnish to the Commission staff, upon request,
information that would otherwise be disclosed in a Schedule 13D.

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Page 6 of 6 – SEC Filing


CUSIP No. 49877M108 13G Page 6 of 6 Pages

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.

Dated: April 11, 2016

POLAR ASSET MANAGEMENT PARTNERS INC.

/s/ Greg Lemaich
Name: Greg Lemaich
Title: General Counsel

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