SCHEDULE: Divisadero Street Group Boosts Zevia PBC Stake to 9.1%

Divisadero Street Capital Management and affiliated entities reported a 9.1% beneficial ownership stake in Zevia PBC's Class A Common Stock.

Summary

• Divisadero Street Capital Management, LP, William Zolezzi, Divisadero Street Partners, L.P., Divisadero Street Partners GP, LLC, and Divisadero Street Capital, LLC collectively reported beneficial ownership of 6,159,362 shares of Zevia PBC's Class A Common Stock.
• This aggregate amount represents 9.1% of the Class A Common Stock outstanding.
• The reporting persons share both voting and dispositive power over all 6,159,362 shares.
• The filing is an Amendment No. 1 to a Schedule 13G, indicating a previous filing for this ownership group.
• The securities were not acquired and are not held for the purpose of changing or influencing control of Zevia PBC.

Sentiment

Score: 6

Explanation: The filing indicates a significant passive institutional ownership stake, which can be viewed as a positive signal of investor confidence. However, it provides no operational or financial performance details about Zevia PBC itself, thus limiting a stronger sentiment.

Positives

• Increased institutional ownership by Divisadero Street Capital Management and its affiliates may signal a vote of confidence in Zevia PBC's long-term prospects.

Future Outlook

The filing is a beneficial ownership report and does not contain forward-looking statements or guidance from Zevia PBC's management.

Management Comments

• William Zolezzi, as Manager for Divisadero Street Capital Management, LP, Divisadero Street Capital, LLC, Divisadero Street Partners, L.P., and Divisadero Street Partners GP, LLC, certified that the securities were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of Zevia PBC.

Industry Context

This filing reflects an institutional investor's position in Zevia PBC, a company operating in the beverage industry, specifically focusing on zero-sugar, naturally sweetened products. Such ownership reports are common across all industries and indicate investor interest in specific companies.

Stakeholder Impact

• Shareholders may perceive the significant institutional ownership as a positive indicator of long-term value and stability, potentially influencing market sentiment.

Key Dates

Recommendation

The Schedule 13G filing indicates a significant passive ownership stake by Divisadero Street Capital Management and its affiliates, representing 9.1% of Zevia PBC's Class A Common Stock. While this demonstrates institutional interest and a vote of confidence, the filing itself does not provide operational or financial performance data to warrant a stronger recommendation. Investors should consider this ownership alongside Zevia PBC's fundamental performance and market conditions.

Keywords

Zevia PBC, ZVIA, Divisadero Street Capital Management, Beneficial Ownership, Schedule 13G, Institutional Investment, Class A Common Stock