Pale Fire Capital SICAV a.s. holds 5,396,328 Commerce.com shares, representing approximately 6.5% of the outstanding stock in an activist position. The investor says it will review the Investment continuously and may communicate with management, propose changes, buy or sell securities, or alter its economic exposure through financial instruments.

Key Highlights

  • The filing reports 5,396,328 Commerce.com shares, representing approximately 6.5% of the outstanding stock.
  • Pale Fire Capital investicni spolecnost a.s. Is identified as the investment manager of Pale Fire Capital SICAV a.s.
  • The filing lists communications, proposals, purchases, sales, hedging and Short Selling among potential actions.

Pale Fire Capital SICAV a.s. Reports direct ownership of 5,396,328 shares of Commerce.com, Inc. (NASDAQ: CMRC), representing approximately 6.5% of the company’s outstanding Series 1 common stock. The filing is a Schedule 13D activist-stake filing dated 08/20/2026. The filing states that the reporting persons intend to continue reviewing the investment and lists communications, proposals, purchases, sales and transactions affecting economic exposure.

6.5% Commerce.com Position

The reported securities are Series 1 common stock with a $0.0001 Par Value per share. The filing states that the position represents approximately 6.5% of the outstanding stock. Reports direct ownership of 5,396,328 shares. The filing associates the reported position with related reporting persons through their stated relationships with the investment.

Related Entities Share Ownership

Pale Fire Capital investicni spolecnost a.s. The filing associates the same reported position with that entity. Jan Barta and Dusan Senkypl are identified as control persons. The filing also associates the reported position with these individuals.

Review Could Lead To Proposals

The filing states that the investment will be reviewed on an ongoing basis. The investor may communicate with Commerce.com’s management, its Board of Directors and advisers. It may also discuss Commerce.com and the investment with other stockholders and other parties. The filing lists proposals concerning Commerce.com’s capitalization, board composition or operations. It also lists purchases of additional securities, sales of securities, agreements affecting economic or beneficial exposure, and short selling, hedging or similar transactions.

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