Schedule 13G/A: William Zolezzi and Divisadero Disclose 4.5% Stake in DAVEW

Rhea-AI Filing Summary

Divisadero Street-related entities and William Zolezzi report beneficial ownership positions in Dave Inc. Class A common stock. The filing shows 534,590 shares (4.5%) reported by Divisadero Street Capital Management, LP and affiliated Divisadero Street Capital, LLC, and 439,590 shares (3.7%) reported by Divisadero Street Partners, L.P. and its GP entity. All reported shares are held with shared voting and shared dispositive power; each reporting person shows 0 sole voting and 0 sole dispositive power.

The filing discloses that the reported securities are directly owned by advisory clients of Divisadero Street Capital Management, LP and states that none of those clients may be deemed to beneficially own more than 5% of the Class A stock. The reporting persons disclaim ownership beyond pecuniary interest and state the holdings were not acquired to influence control of the issuer.

Positive

• The filing provides clear, quantifiable disclosure of holdings: 534,590 shares (4.5%) and 439,590 shares (3.7%), improving transparency for investors.
• Report states the shares are held for advisory clients and explicitly notes that no advisory client is deemed to beneficially own more than 5%, reducing concerns about a single large owner.

Negative

• None.

Insights

Financial Analyst

TL;DR: A disclosed sub-5% position by Divisadero Street entities; notable for transparency but not a control-level stake.

The schedule documents a combined position of 534,590 shares (4.5%) reported by Divisadero Street Capital Management and affiliated entities, and 439,590 shares (3.7%) reported by the Partners entities. These holdings are reported as shared voting and dispositive power with no sole control reported, and are held for advisory clients rather than the reporting entities themselves. For investors this is a routine institutional disclosure: the percentages are below common materiality thresholds for control or activist intent, so immediate governance or strategic implications are limited. The filing does, however, provide useful transparency on ownership concentration and voting arrangements.

Corporate Governance Expert

TL;DR: Clear disclosure of advisory-client ownership and shared powers reduces governance ambiguity but does not indicate influence.

The filing clarifies that voting and dispositive authority over the reported shares is shared and that sole voting/dispositive power is 0 for each reporting person, which signals no unilateral control by the filers. The explicit statement that securities are directly owned by advisory clients and that no single client exceeds 5% further limits the likelihood of coordinated control activity. From a governance perspective, this is a compliance-focused disclosure that improves transparency without revealing any material change in control dynamics or board influence by the reporting persons.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

Dave Inc.

(Name of Issuer)

Class A common stock, par value $0.0001

(Title of Class of Securities)

23834J201

(CUSIP Number)

06/30/2025

(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)

SCHEDULE 13G

CUSIP No. 23834J201

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 534,590.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 534,590.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

534,590.00

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)

4.5 %

12

Type of Reporting Person (See Instructions)

IA, PN

SCHEDULE 13G

CUSIP No. 23834J201

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 534,590.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 534,590.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

534,590.00

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)

4.5 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

CUSIP No. 23834J201

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 439,590.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 439,590.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

439,590.00

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)

3.7 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP No. 23834J201

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 439,590.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 439,590.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

439,590.00

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)

3.7 %

12

Type of Reporting Person (See Instructions)

HC, OO

SCHEDULE 13G

CUSIP No. 23834J201

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 534,590.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 534,590.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

534,590.00

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)

4.5 %

12

Type of Reporting Person (See Instructions)

HC, OO

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Dave Inc.
(b)	Address of issuer's principal executive offices: 1265 South Cochran Ave, Los Angeles, California 90019
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: Class A common stock, par value $0.0001
(e)	CUSIP No.: 23834J201
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 - 534,590 William Zolezzi - 534,590 Divisadero Street Partners, L.P. - 439,590 Divisadero Street Partners GP, LLC - 439,590 Divisadero Street Capital, LLC - 534,590
(b)	Percent of class: Divisadero Street Capital Management, LP - 4.5% William Zolezzi - 4.5% Divisadero Street Partners, L.P. - 3.7% Divisadero Street Partners GP, LLC - 3.7% Divisadero Street Capital, LLC - 4.5%
(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 - 534,590 William Zolezzi - 534,590 Divisadero Street Partners, L.P. - 439,590 Divisadero Street Partners GP, LLC - 439,590 Divisadero Street Capital, LLC - 534,590
	(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 - 534,590 William Zolezzi - 534,590 Divisadero Street Partners, L.P. - 439,590 Divisadero Street Partners GP, LLC - 439,590 Divisadero Street Capital, LLC - 534,590
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
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 may be deemed to beneficially own more than 5% of the Class A common stock, $0.0001 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:	08/13/2025

William Zolezzi

Signature:	/s/ William Zolezzi
Name/Title:	William Zolezzi
Date:	08/13/2025

Divisadero Street Partners, L.P.

Signature:	By: Divisadero Street Partners GP, LLC, its general partner, By: /s/ William Zolezzi
Name/Title:	William Zolezzi/Manager
Date:	08/13/2025

Divisadero Street Partners GP, LLC

Signature:	/s/ William Zolezzi
Name/Title:	William Zolezzi/Manager
Date:	08/13/2025

Divisadero Street Capital, LLC

Signature:	/s/ William Zolezzi
Name/Title:	William Zolezzi/Manager
Date:	08/13/2025

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

FAQ

What stake do Divisadero Street entities report in Dave Inc. (DAVEW)?

Divisadero Street Capital Management, LP and affiliated Divisadero Street Capital, LLC report 534,590 shares (4.5%); Divisadero Street Partners, L.P. and its GP report 439,590 shares (3.7%).

Do any reporting persons have sole voting or dispositive power over the reported shares?

No. Each reporting person lists 0 sole voting power and 0 sole dispositive power; reported authority is shared voting and shared dispositive power.

Are the reported securities owned directly by Divisadero or by clients?

The filing states all reported securities are directly owned by advisory clients of Divisadero Street Capital Management, LP.

Does any reporting person claim more than 5% ownership of Dave Inc. Class A stock?

No. Reported percentages are 4.5% and 3.7%, and the filing states no advisory client holds more than 5%.

Did the filers indicate an intent to influence control of the issuer?

The certification states the securities were not acquired to change or influence control of the issuer and disclaims such intent.