Company: PAX
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001628280-25-025640
Chunk: 193

Company: Patria Investments Ltd
Filing Date: 2025-05-15
Form: 20-F
Item: Item 5
Chunk 193
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 used in financing activities of US$229.6 million for the year ended December 31, 2023 to net cash used in financing activities of US$151.7 million for the year ended December 31, 2024. Our financing activities primarily consisted of: (i) dividends paid to our shareholders, which were US$132.4 million, US$145.1 million and US$103.3 million in 2024, 2023 and 2022 respectively; and (ii) settlement of financing arrangements by sellers of acquired business of US$86.2 million; and (iii) redemptions by shareholders of the SPAC of US$141.3 million; and (iv) net proceeds from credit facilities to fund M& A activities of US$215.9 million.

  Patria Investments Limited      128  

  Table of Contents  

In 2023, our net cash flows from financing activities decreased by US$348.4 million, from net cash from financing activities of US$118.5 million for the year ended December 31, 2022 to net cash used in financing activities of US$229.9 million for the year ended December 31, 2023. Our financing activities primarily consisted of: (i) dividends paid to our shareholders, which were US$145.1 million and US$103.3 million in 2023 and 2022 respectively; and (ii) settlement of financing arrangements by sellers of business acquired during the year of US$14.7 million; and redemptions by shareholders of the SPAC of US$65.2 million.

Indebtedness

As of December 31, 2024, we had US$228 million owing on credit facilities with major financial institutions. For 2023 and 2022, we had no outstanding financial indebtedness.

Off-balance Sheet Arrangements

As of December 31, 2024, 2023 and 2022, we did not have any off-balance sheet arrangements.

Capital Expenditures

In the years ended December 31, 2024, 2023 and 2022, we made capital expenditures of US$131.4 million, US$45.2 million and US$54.5 million, respectively. These capital expenditures mainly include expenditures related to (1) acquisitions of property, equipment, and software and computer programs, (2) M& A investments net of cash in the entity acquired, which includes engaging in