Company: PAX
Filing Date: 2025-01-16
Form Type: 424B3
Source: 0000950103-25-000600
Chunk: 37

Company: Patria Investments Ltd
Filing Date: 2025-01-16
Form: 424B3
Chunk 37
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 determination
is made, the courts of the Cayman Islands will not recognize or enforce the judgment against a Cayman Islands’ company. Because
the courts of the Cayman Islands have yet to rule on whether such judgments are penal or punitive in nature, it is uncertain whether they
would be enforceable in the Cayman Islands.

Our Cayman Islands counsel has further advised
us that a final and conclusive judgment in the federal or state courts of the United States under which a sum of money is payable, other
than a sum payable in respect of taxes, fines, penalties or similar charges, may be subject to enforcement proceedings as a debt in the
courts of the Cayman Islands under the common law doctrine of obligation.

Virtually all of our assets are located outside
the United States, in Brazil. In addition, a majority of the members of our board of directors and all of our officers are nationals or
residents of Brazil and all or a substantial portion of their assets are located outside the United States. As a result, it may be difficult
for investors to effect service of process within the United States upon us or these persons, or to enforce against us or them judgments
obtained in United States courts, including judgments predicated upon the civil liability provisions of the securities laws of the United
States or any state in the United States.

<div align='center'>21

Taxation</div>

Material income tax consequences relating to the
purchase, ownership and disposition of any of the securities offered by this prospectus will be set forth in the applicable prospectus
supplement relating to the offering of those securities.

<div align='center'>22

Selling Shareholders</div>

Selling shareholders to be named in an applicable
prospectus supplement may, from time to time, offer and sell some or all of the equity securities held by them pursuant to this prospectus
and the applicable prospectus supplement. Such selling shareholders may sell equity securities held by them to or through underwriters,
dealers or agents or directly to purchasers or as otherwise set forth in the applicable prospectus supplement. See “Plan of Distribution.”
Such selling shareholders may also sell, transfer or otherwise dispose of some or all of the equity securities held by them in transactions
exempt from the registration requirements of the Securities Act.

We will provide you with a prospectus supplement,
which will set forth the name of each selling shareholder, the number of equity securities beneficially owned by such selling shareholder
and the number of equity securities they are