Company: PAX
Filing Date: 2025-01-16
Form Type: 424B3
Source: 0000950103-25-000600
Chunk: 35

Company: Patria Investments Ltd
Filing Date: 2025-01-16
Form: 424B3
Chunk 35
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 a majority of the members of our
board of directors and to determine the outcome of most matters submitted for a vote of shareholders. This concentrated voting control
could discourage others from initiating any potential merger, takeover, or other change of control transaction that other shareholders
may view as beneficial.

So long as Patria Holdings
has the ability to determine the outcome of most matters submitted to a vote of shareholders as well as the overall management and direction
of Patria, third parties may be deterred in their willingness to make an unsolicited merger, takeover or other change of control proposal,
or to engage in a proxy contest for the election of directors. As a result, the fact that Patria has two classes of common shares may
have the effect of depriving you as a holder of Class A common shares of an opportunity to sell your Class A common shares at
a premium over prevailing market prices and make it more difficult to replace the directors and management of Patria.

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Preferred Shares

Patria’s board of directors
is given wide powers to issue one or more classes or series of shares with preferred rights. Such preferences may include, for example,
dividend rights, conversion rights, redemption privileges, enhanced voting powers and liquidation preferences.

Despite the anti-takeover
provisions described above, under Cayman Islands law, Patria’s board of directors may only exercise the rights and powers granted
to them under the Articles of Association, for what they believe in good faith to be in the best interests of Patria.

Protection of Non-Controlling Shareholders

The Grand Court of the Cayman
Islands may, on the application of shareholders holding not less than one-fifth of the shares of Patria in issue, appoint an inspector
to examine the Company’s affairs and report thereon in a manner as the Grand Court shall direct.

Subject to the provisions
of the Companies Act, any shareholder may petition the Grand Court of the Cayman Islands, which may make a winding-up order, if the court
is of the opinion that this winding-up is just and equitable.

Notwithstanding the U.S.
securities laws and regulations that are applicable to Patria, general corporate claims against Patria by its shareholders must, as a
general rule, be based on the general laws of contract or tort applicable in the Cayman Islands or their individual rights as shareholders
as established by Patria’s Articles of Association.

The Cayman Islands courts
ordinarily would be expected to follow