Company: PAX
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001628280-25-025640
Chunk: 114

Company: Patria Investments Ltd
Filing Date: 2025-05-15
Form: 20-F
Item: Item 4
Chunk 114
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 with each whole warrant being a public warrant entitling the holder thereof to purchase one Class A ordinary share of the SPAC for US$11.50 per share, subject to adjustment. The units were sold at a price of US$10.00 per unit, generating gross proceeds from the issuance of US$230,000,000.

The SPAC is a special purpose acquisition company incorporated in the Cayman Islands and sponsored by one of our affiliates, Patria SPAC LLC, for the purpose of effecting a business combination with one or more businesses with a focus in Latin America. The registration statement on Form S-1 (File No. 333-254498) relating to the securities referred to therein and subsequently amended has been filed with the SEC and declared effective on March 9, 2022. For further details, see notes 5, 12(d) and 20(c) to our audited consolidated financial statements.

On June 12, 2023, the SPAC held an extraordinary general meeting of its shareholders (the “2023 Extraordinary General Meeting”). At the 2023 Extraordinary General Meeting, the SPAC shareholders approved amendments to its Amended and Restated Memorandum and Articles of Association to extend the date (the “ Termination Date”) by which the SPAC has to consummate an initial business combination from June 14, 2023 (the “ Original Termination Date”) to June 14, 2024 (the “ Articles Extension Date”), in addition to other proposals. As a result, the SPAC now has up to June 14, 2024 to consummate its initial business combination. After the 2023 Extraordinary General Meeting, shareholders holding an aggregate of 6,119,519 of the SPAC’s Class A ordinary shares exercised their right to redeem their shares on June 14, 2023. Following such redemptions, 16,880,481 ordinary shares of the SPAC remained outstanding and subject to redemption.

On June 12, 2024, the SPAC held another extraordinary general meeting of the SPAC’s shareholders (the “2024 Extraordinary General Meeting”). At the 2024 Extraordinary General Meeting, the SPAC’s shareholders approved the Extension Amendment Proposal to amend, by way of a special resolution, the SPAC’s Articles, as set forth in the Trust Agreement dated as of March 9, 2022 by and between the SPAC and the Trustee, the Termination Date by which the