[SCHEDULE 13G] Axogen, Inc. Passive Investment Disclosure (>5%)
Axogen: Divisadero reports 6.8% passive stake
The reported securities are directly owned by advisory clients; Divisadero Street Partners, L.P. is the only client that may be deemed to own more than 5%.
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Axogen, Inc. common stock is the subject of a Schedule 13G reporting beneficial ownership by Divisadero Street Capital Management, LP, William Zolezzi and Divisadero Street Capital, LLC: 3,983,783 shares each, or 6.8%, with shared voting and dispositive power. Divisadero Street Partners, L.P. and its general partner, Divisadero Street Partners GP, LLC, each report 3,436,008 shares, or 5.9%, also with shared voting and dispositive power.
Key Figures
Reported beneficial ownership:3,983,783 sharesPercent of class:6.8%Reported beneficial ownership:3,436,008 shares+1 more
4 metrics
Reported beneficial ownership3,983,783 sharesEach reported by Divisadero Street Capital Management, LP, William Zolezzi and Divisadero Street Capital, LLC
Percent of class6.8%Reported by Divisadero Street Capital Management, LP, William Zolezzi and Divisadero Street Capital, LLC
Reported beneficial ownership3,436,008 sharesEach reported by Divisadero Street Partners, L.P. and Divisadero Street Partners GP, LLC
Percent of class5.9%Reported by Divisadero Street Partners, L.P. and Divisadero Street Partners GP, LLC
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
shared voting powertechnical
"Shared power to vote or to direct the vote"
Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.
shared dispositive powertechnical
"Shared power to dispose or to direct the disposition"
pecuniary interestfinancial
"except to the extent of his, her or its pecuniary interest therein"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How many AXGN shares does Divisadero report owning?
Divisadero Street Capital Management, LP, William Zolezzi and Divisadero Street Capital, LLC each report 3,983,783 shares, or 6.8%. Divisadero Street Partners, L.P. and its general partner each report 3,436,008 shares, or 5.9%. The Schedule 13G lists the same reported amounts for those respective reporting persons.
Who directly owns the AXGN shares reported by Divisadero?
The reported securities are directly owned by advisory clients of Divisadero Street Capital Management, LP. Divisadero Street Partners, L.P. is the only advisory client that may be deemed to beneficially own more than 5% of Axogen common stock.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Axogen, Inc.
(Name of Issuer)
Common Stock, $0.01 par value
(Title of Class of Securities)
05463X106
(CUSIP Number)
10/02/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
05463X106
1
Names of Reporting Persons
Divisadero Street Capital Management, LP
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
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
3,983,783.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
3,983,783.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
3,983,783.00
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)
6.8 %
12
Type of Reporting Person (See Instructions)
IA, PN
SCHEDULE 13G
CUSIP Number(s):
05463X106
1
Names of Reporting Persons
William Zolezzi
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
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
3,983,783.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
3,983,783.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
3,983,783.00
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)
6.8 %
12
Type of Reporting Person (See Instructions)
HC, IN
SCHEDULE 13G
CUSIP Number(s):
05463X106
1
Names of Reporting Persons
Divisadero Street Partners, L.P.
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
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
3,436,008.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
3,436,008.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
3,436,008.00
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)
5.9 %
12
Type of Reporting Person (See Instructions)
PN
SCHEDULE 13G
CUSIP Number(s):
05463X106
1
Names of Reporting Persons
Divisadero Street Partners GP, LLC
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
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
3,436,008.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
3,436,008.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
3,436,008.00
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)
5.9 %
12
Type of Reporting Person (See Instructions)
OO
SCHEDULE 13G
CUSIP Number(s):
05463X106
1
Names of Reporting Persons
Divisadero Street Capital, LLC
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
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
3,983,783.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
3,983,783.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
3,983,783.00
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)
6.8 %
12
Type of Reporting Person (See Instructions)
HC, OO
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Axogen, Inc.
(b)
Address of issuer's principal executive offices:
13631 Progress Blvd., Suite 400 Alachua, FL 32615
Item 2.
(a)
Name of person filing:
Divisadero Street Capital Management, LP
William Zolezzi
Divisadero Street Partners, L.P.
Divisadero Street Partners GP, LLC
Divisadero Street Capital, LLC
(b)
Address or principal business office or, if none, residence:
Divisadero Street Capital Management, LP
3480 Main Highway, Suite 204
Miami, FL 33133
William Zolezzi
c/o Divisadero Street Capital Management, LP
3480 Main Highway, Suite 204
Miami, FL 33133
Divisadero Street Partners, L.P.
3480 Main Highway, Suite 204
Miami, FL 33133
Divisadero Street Partners GP, LLC
3480 Main Highway, Suite 204
Miami, FL 33133
Divisadero Street Capital, LLC
3480 Main Highway, Suite 204
Miami, FL 33133
(c)
Citizenship:
Divisadero Street Capital Management, LP - Delaware
William Zolezzi - United States
Divisadero Street Partners, L.P. - Delaware
Divisadero Street Partners GP, LLC - Delaware
Divisadero Street Capital, LLC - Delaware
(d)
Title of class of securities:
Common Stock, $0.01 par value
(e)
CUSIP Number(s):
05463X106
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 (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-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 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
Divisadero Street Capital Management, LP - 3,983,783
William Zolezzi - 3,983,783
Divisadero Street Partners, L.P. - 3,436,008
Divisadero Street Partners GP, LLC - 3,436,008
Divisadero Street Capital, LLC - 3,983,783
(b)
Percent of class:
Divisadero Street Capital Management, LP - 6.8%
William Zolezzi - 6.8%
Divisadero Street Partners, L.P. - 5.9%
Divisadero Street Partners GP, LLC - 5.9%
Divisadero Street Capital, LLC - 6.8%
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
Divisadero Street Capital Management, LP - 0
William Zolezzi - 0
Divisadero Street Partners, L.P. - 0
Divisadero Street Partners GP, LLC - 0
Divisadero Street Capital, LLC - 0
(ii) Shared power to vote or to direct the vote:
Divisadero Street Capital Management, LP - 3,983,783
William Zolezzi - 3,983,783
Divisadero Street Partners, L.P. - 3,436,008
Divisadero Street Partners GP, LLC - 3,436,008
Divisadero Street Capital, LLC - 3,983,783
(iii) Sole power to dispose or to direct the disposition of:
Divisadero Street Capital Management, LP - 0
William Zolezzi - 0
Divisadero Street Partners, L.P. - 0
Divisadero Street Partners GP, LLC - 0
Divisadero Street Capital, LLC - 0
(iv) Shared power to dispose or to direct the disposition of:
Divisadero Street Capital Management, LP - 3,983,783
William Zolezzi - 3,983,783
Divisadero Street Partners, L.P. - 3,436,008
Divisadero Street Partners GP, LLC - 3,436,008
Divisadero Street Capital, LLC - 3,983,783
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
All of the securities reported in this Schedule 13G are directly owned by advisory clients of Divisadero Street Capital Management, LP. None of those advisory clients, other than Divisadero Street Partners, L.P., may be deemed to beneficially own more than 5% of the Common Stock, $0.01 par value.
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary.
Please see Exhibit B attached hereto.
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above 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, other than activities solely in connection with a nomination under § 240.14a-11.
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.
Divisadero Street Capital Management, LP
Signature:
By: Divisadero Street Capital, LLC, its general partner, By: /s/ William Zolezzi
Name/Title:
William Zolezzi, Manager
Date:
10/02/2026
William Zolezzi
Signature:
/s/ William Zolezzi
Name/Title:
William Zolezzi
Date:
10/02/2026
Divisadero Street Partners, L.P.
Signature:
By: Divisadero Street Partners GP, LLC, its general partner, /s/ William Zolezzi
Name/Title:
William Zolezzi, Manager
Date:
10/02/2026
Divisadero Street Partners GP, LLC
Signature:
/s/ William Zolezzi
Name/Title:
William Zolezzi, Manager
Date:
10/02/2026
Divisadero Street Capital, LLC
Signature:
/s/ William Zolezzi
Name/Title:
William Zolezzi, Manager
Date:
10/02/2026
Comments accompanying signature: * Each Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his, her or its pecuniary interest therein, and this report shall not be deemed an admission that such Reporting Person is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.
To the extent that "ownership of 5 percent or less of a class" was indicated in Item 5, such response only applies to the Reporting Person(s) that indicated elsewhere herein that it beneficially owns five percent (5%) or less of the class.
Exhibit Information
Exhibit A - Joint Filing Agreement
Exhibit B - Control Person Identification
