Divisar Capital Management LLC - 31 Dec 2025 SCHEDULE 13G/A Report for Commerce.com, Inc. Series 1 Common Stock, $0.0001 par value (CMRC)

Filing Manager
Divisar Capital Management LLC
Reporting Manager
Divisar Capital Management LLC
Security
Commerce.com, Inc. Series 1 Common Stock, $0.0001 par value
Symbol
CMRC
Shares outstanding
82,106,435 shares
Disclosed Ownership
3,776,896 shares
Ownership
4.6%
Form type
SCHEDULE 13G/A
Filing time
17 Feb 2026, 13:50:39 UTC
Date of event
31 Dec 2025
Previous filing
28 May 2025
SEC
View on sec.gov

Reporting Managers (3)

Name Ownership Shares Owned sole voting power shared voting power Signature Title CIK
Divisar Partners QP, L.P. 4.3% 3,479,850 0 3,479,850 Steven Baughman CEO, Divisar Capital Management,LLC, its General Partner
Divisar Capital Management LLC 4.6% 3,776,896 0 3,776,896 /s/ Steven Baughman CEO
Steven Baughman 4.6% 3,776,896 0 3,776,896 /s/ Steven Baughman Steven Baughman