ELECU Electrum Special Acquisition Corp. - Unit (delisted)

Name of Issuer:

The name of the issuer is Electrum Special Acquisition Corporation (the " Company ").

Address of Issuer's Principal Executive Offices:

The Company's principal executive offices are located at c/o Electrum Group LLC, 535 Madison Avenue, 11 ^th Floor, New York, New York, 10022.

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 manager to Polar Multi Strategy Master Fund, a Cayman Islands exempted company (" PMSMF ") and certain managed accounts (together with PMSMF, the “Polar Vehicles”), with respect to the Shares (as defined below) directly held by the Polar Vehicles.

The filing of this statement should not be construed as an admission that the Reporting Person is, for the purposes of Section 13 of the Act, the beneficial owner of the Shares reported herein.

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.

Citizenship:

The citizenship of the Reporting Person is Canada.

Title and Class of Securities:

Ordinary shares (the " Shares ")

CUSIP No.:

G3105C104

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:

[   ]          Broker or dealer registered under Section 15 of the Act;

[   ]          Bank as defined in Section 3(a)(6) of the Act;

[   ]          Insurance company as defined in Section 3(a)(19) of the Act;

[   ]          Investment company registered under Section 8 of the Investment Company Act of 1940;

[   ]          An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E);

[   ]          An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F);

[   ]          A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G);

[   ]          A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);

[   ]          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;

[X]          A non-U.S. institution in accordance with Rule 240.13d-1(b)(1)(ii)(J);

[   ]          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, portfolio manager and exempt market dealer registered with the Ontario Securities Commission.

If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following [X].

Item 7.

Identification and classification of the subsidiary which acquired the security being reported on by the parent holding company or control person.

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.