Company: PAX
Filing Date: 2025-01-16
Form Type: 424B3
Source: 0000950103-25-000600
Chunk: 28

Company: Patria Investments Ltd
Filing Date: 2025-01-16
Form: 424B3
Chunk 28
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 of the Companies Act and our Articles of Association, Patria may:

| • | issue shares on terms that they are to be redeemed or are liable to be redeemed; |

| • | purchase its own shares (including any redeemable shares); and |

| • | make a payment in respect of the redemption or purchase of its own shares in any manner authorized by 
 the Companies Act, including out of its own capital.                                                  |

Transfer of Shares

Subject to any applicable
restrictions set forth in the Articles of Association, any shareholder of Patria may transfer all or any of his or her common shares by
an instrument of transfer in the usual or common form or in the form prescribed by the Nasdaq or any other form approved by Patria’s
board of directors.

The Class A common shares
sold in our initial public offering are traded on the Nasdaq in book-entry form and may be transferred in accordance with Patria’s
Articles of Association and Nasdaq’s rules and regulations.

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However, Patria’s board
of directors may, in its absolute discretion, decline to register any transfer of any common share which is either not fully paid up to
a person of whom it does not approve or is issued under any share incentive scheme for employees which contains a transfer restriction
that is still applicable to such common share. The board of directors may also decline to register any transfer of any common share unless:

| • | a fee of such maximum sum as the Nasdaq may determine to be payable or such lesser sum as the board of 
 directors may from time to time require is paid to Patria in respect thereof;                          |

| • | the instrument of transfer is lodged with Patria, accompanied by the certificate (if any) for the common                                
 shares to which it relates and such other evidence as our board of directors may reasonably require to show the right of the transferor 
 to make the transfer;                                                                                                                   |

| • | the instrument of transfer is in respect of only one class of shares; |

| • | the instrument of transfer is properly stamped, if required; |

| • | the common shares transferred are free of any lien in favor of Patria; and |

| • | in the case of a transfer to joint holders, the transfer is not to more than four joint holders. |

If the directors refuse to
register a transfer, they are required, within two months after the date on which the instrument of transfer was lodged, to send to the
transf