Company: DLO
Filing Date: 2025-09-03
Form Type: 424B3
Source: 0000950103-25-011193
Chunk: 121

Company: dLocal Ltd
Filing Date: 2025-09-03
Form: 424B3
Chunk 121
---
 use securities covered by this prospectus including securities pledged by us or any selling shareholders or borrowed from
us, any selling shareholders or others to settle those sales or to close out any related open borrowing of stock, and may use securities
received from us in settlement of those derivatives to close out any related open borrowings of stock. The third party in such sale transactions
will be an underwriter and, if not identified in this prospectus, will be identified in the applicable prospectus supplement (or in a
post-effective amendment). We or any selling shareholders may also sell Class A common shares short using this prospectus and deliver
Class A common shares covered by this prospectus to close out such short positions, or loan or pledge Class A common shares to financial
institutions that in turn may sell the Class A common shares using this prospectus. We or any selling shareholders may pledge or grant
a security interest in some or all of the securities covered by this prospectus to support a derivative or hedging position or other obligation
and, if we or the selling shareholders default in the performance of its obligations, the pledgees or secured parties may offer and sell
the securities from time to time pursuant to this prospectus.

If the prospectus supplement so indicates, we
or any selling shareholders may authorize agents and underwriters or dealers to solicit offers by certain purchasers to purchase the securities
from us at the public offering price set forth in the prospectus supplement. These contracts will be subject to only those conditions
set forth in the

<div align='center'>23</div>

prospectus supplement, and the prospectus supplement
will set forth the commission payable for solicitation of such offers.

Certain persons participating in this offering
may engage in transactions that stabilize, maintain or otherwise affect the price of the securities. Specifically, the underwriters, if
any, may over-allot in connection with the offering, and may bid for, and purchase, the securities in the open market.

Dealers

If we or any selling shareholders use dealers
in the sale, unless otherwise indicated in the prospectus supplement, we or the selling shareholders will sell securities to the dealers
as principals. The dealers may then resell the securities to the public at varying prices that the dealers may determine at the time of
resale.

Agents and Direct Sales

We or any selling shareholders may sell securities
directly or through agents that we or the selling shareholders designate. The prospectus supplement names any agent involved in the offering
and sale and states