Company: DLO
Filing Date: 2025-09-03
Form Type: 424B3
Source: 0000950103-25-011193
Chunk: 70

Company: dLocal Ltd
Filing Date: 2025-09-03
Form: 424B3
Chunk 70
---
 actions, as described
above, do not apply to certain transactions, including (i) the issuance of common shares or securities convertible into or exercisable
for common shares pursuant to the conversion or exchange of convertible or exchangeable securities or the exercise of warrants or options
(including net exercise) or the settlement of restricted stock units (including net settlement), in each case outstanding on the date
of this prospectus supplement and described herein; (ii) grants of stock options, share awards, restricted shares, restricted stock
units or other equity awards and the issuance of common shares or securities convertible into or exercisable or exchangeable for common
shares (whether upon the exercise of stock options or otherwise) to our employees, officers, directors, advisors, or consultants pursuant
to the terms of an equity compensation plan in effect as of the closing date of this offering and described in this prospectus, provided
that such recipients enter into a lock-up agreement with the underwriters; (iii) the filing of any registration statement (A) on
Form S-8 relating to securities granted or to be granted pursuant to any plan in effect on the date of this prospectus supplement and
described herein or any assumed benefit plan pursuant to an acquisition or similar strategic transaction or (B) in connection with
the registration of shares pursuant to a demand registration from shareholders for which the 90-day
restricted period shall have expired early as described below, (iv) the issuance of common shares in connection with the Share Contribution
and the Share Split; (v) the issuance of common shares or other securities (including securities convertible into common shares)
in connection with the acquisition by us or any of our subsidiaries of the securities, businesses, properties or other assets of another
person or entity or pursuant to any employee benefit plan assumed by us in connection with any such acquisition; or (vi) the issuance
of common shares or other securities (including securities convertible into common shares) in connection with joint ventures, commercial
relationships or other strategic transactions; provided that, in the case of clauses (v) and (vi), the aggregate number of common
shares issued in all such acquisitions and transactions does not exceed 10% of our outstanding common shares following this offering and
any recipients of such common shares shall deliver a lock-up agreement to the underwriters.

Our directors and executive officers, and the
selling shareholder (such persons, the “lock-up parties”) have entered into lock-up agreements with the underwriters prior
to the commencement of this offering pursuant to