Pangaea Logistics Solutions Ltd. — Major Shareholding Notification 2015

Feb 17, 2015

SC 13G/A 1 p15-0635sc13ga.htm PANGAEA LOGISTICS SOLUTIONS LTD.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G/A
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
Pangaea Logistics
Solutions Ltd. (f/k/a Quartet Merger Corp.)
(Name of Issuer)
Common Stock,
par value $.0001 per share
(Title of Class of Securities)
G6891L 105
(CINS Number)
December
31, 2014
(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 5 Pages)

---

*The remainder of this cover page shall be filled out for a reporting person's 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).

Field: Page; Sequence: 1; Options: NewSection; Value: 2

CINS. No. G6891L 105 13G/A Page 2 of 5 Pages

Field: /Page

1	NAME OF REPORTING PERSON Fir Tree Inc.
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP	(a) ¨ (b) ¨
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION New York
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:	5	SOLE VOTING POWER 99,181 shares of Common Stock (as defined below)
	6	SHARED VOTING POWER 0
	7	SOLE DISPOSITIVE POWER 99,181 shares of Common Stock
	8	SHARED DISPOSITIVE POWER 0
9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 99,181 shares of Common Stock
10	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES	¨
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 0.3%
12	TYPE OF REPORTING PERSON IA, CO

Field: Page; Sequence: 2; Value: 2

CINS. No. G6891L 105 13G/A Page 3 of 5 Pages

Field: /Page

Item 1(a).
Pangaea Logistics Solutions Ltd. (the "Issuer")

Item 1(b).
109 Long Wharf
Newport, Rhode Island 02840

| Item 2(a). |
| --- |
| This Schedule 13G/A is being
filed on behalf of Fir Tree Inc., a New York corporation (“Fir Tree”), relating to Common Stock, par value $.0001
per share (the “Common Stock”), issued by the Issuer, purchased by certain private-pooled investment vehicles for
which Fir Tree serves as the investment manager (the “Funds”). |
| Fir Tree is the investment manager of the Funds, and has been granted investment discretion over portfolio investments, including the Common Stock held by the Funds. |

Item 2(b).
The address of the principal business office of Fir Tree is:
Fir Tree Inc. 505 Fifth Avenue 23rd Floor New York, New York 10017

Item 2(c).
Fir Tree is a New York corporation.

Item 2(d).
Common Stock, par value $.0001 per share

Item 2(e).
G6891L 105

ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO Rules 13d-1(b), OR 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;
(e)	x	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 association as defined in Section 3(b) of the Federal Deposit Insurance Act;

Field: Page; Sequence: 3; Value: 2

CINS. No. G6891L 105 13G/A Page 4 of 5 Pages

Field: /Page

(i)	¨	A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act;
(j)	¨	A non-U.S. institution in accordance with Rule 13d-1(b)(1)(ii)(J);
(k)	¨	Group, in accordance with Rule 13d-1(b)(1)(ii)(K).

If filing as a non-U.S. institution in accordance with Rule 13d-1(b)(1)(ii)(J), please specify the type of institution: __________

| Item 4. |
| --- |
| The percentage set forth in this Schedule 13G/A is calculated based on
34,756,997 shares of Common Stock outstanding as of December 31, 2014, as reported in the Issuer’s Registration
Statement on Form S-1 filed as of February 4, 2015. |
| The information required by Items 4(a) - (c) is set forth in Rows 5-11 of the cover page hereto for the Reporting Person and is incorporated herein by reference for the Reporting Person. |

Item 5.
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 6.
Not applicable.

Item 7.
Not applicable.

Item 8.
Not applicable.

Item 9.
Not applicable.

ITEM 10. CERTIFICATION

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.

Field: Page; Sequence: 4; Value: 2

CINS. No. G6891L 105 13G/A Page 5 of 5 Pages

Field: /Page

SIGNATURES

After reasonable inquiry and to the best of his or its knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.

DATE: February 17, 2015

FIR TREE INC.
/s/ James Walker
Name: James Walker
Title: Managing Director