Patria Investments Ltd Amends 2023 20-F Filing

TL;DR

Patria Investments fixed typos in its 2023 20-F filing related to 2021/2022 expenses and accounting reports.

AI Summary

Patria Investments Ltd is amending its 2023 Annual Report on Form 20-F, originally filed on April 29, 2024. The amendments correct typographical errors in personnel expenses for the year ended December 31, 2021, and in accounts receivable and project advances for the year ended December 31, 2022. A correction is also made to the tenure statement in the independent registered public accounting firm's report.

Why It Matters

This amendment clarifies specific financial figures and accounting statements, ensuring greater accuracy for investors and stakeholders reviewing Patria Investments' financial performance.

Risk Assessment

Risk Level: low — The filing is an amendment to correct minor typographical errors, not a restatement of financial performance or a disclosure of new material risks.

Key Numbers

• 2023 — Fiscal Year End (The primary fiscal year covered by the amended 20-F report.)
• 2021 — Personnel Expenses Correction Year (The year for which typographical errors in personnel expenses were corrected.)
• 2022 — Accounts Receivable Correction Year (The year for which typographical errors in accounts receivable and project advances were corrected.)

Key Players & Entities

• Patria Investments Ltd (company) — Filer of the 20-F/A amendment
• U.S. Securities and Exchange Commission (SEC) (company) — Recipient of the filing
• April 29, 2024 (date) — Original filing date of the 2023 Annual Report
• December 31, 2021 (date) — Fiscal year for which personnel expenses were corrected
• December 31, 2022 (date) — Fiscal year for which accounts receivable and project advances were corrected

FAQ

Key Financial Figures

• $0.0001 — ed Class A common shares, par value US$0.0001 per share PAX The Nasdaq Global Select
• $311,174 thousand — arge, or both. The goodwill balance was $311,174 thousand as of December 31, 2023, of which $239,
• $239,879 thousand — usand as of December 31, 2023, of which $239,879 thousand was allocated to the Moneda cash-genera
• $327,617 — 31, 2023, net revenue from services was $327,617 thousand, of which $74,712 thousand rel
• $74,712 thousand — ervices was $327,617 thousand, of which $74,712 thousand relate to revenue from performance fees
• $ — thousands of United States dollars - US$, except earnings per share) Note 2023

Filing Documents

• pax-20231231.htm (20-F/A) — 3691KB
• pax-20231231xexx121.htm (EX-12.1) — 9KB
• pax-20231231xexx122.htm (EX-12.2) — 9KB
• pax-20231231xexx131.htm (EX-13.1) — 4KB
• pax-20231231xexx132.htm (EX-13.2) — 4KB
• a2024sp035396_vfsigned.htm (EX-23.1) — 3KB
• a2024sp035396_vfsigned001.jpg (GRAPHIC) — 102KB
• pax-20231231_g1.jpg (GRAPHIC) — 5KB
• 0001628280-24-042839.txt ( ) — 23040KB
• pax-20231231.xsd (EX-101.SCH) — 219KB
• pax-20231231_cal.xml (EX-101.CAL) — 160KB
• pax-20231231_def.xml (EX-101.DEF) — 843KB
• pax-20231231_lab.xml (EX-101.LAB) — 1452KB
• pax-20231231_pre.xml (EX-101.PRE) — 1105KB
• pax-20231231_htm.xml (XML) — 5364KB

FINANCIAL STATEMENTS

ITEM 17. FINANCIAL STATEMENTS We have responded to Item 18 in lieu of this item.

FINANCIAL STATEMENTS

ITEM 18. FINANCIAL STATEMENTS See our audited consolidated financial statements beginning at page F-1. Table of Contents

EXHIBITS

ITEM 19. EXHIBITS The following documents are filed as part of this annual report: Exhibit No. Exhibit 2.1

Description of Securities registered under Section 12 of the Exchange Act

Description of Securities registered under Section 12 of the Exchange Act. 3.1 Amended and Restated Articles of Association of Patria (incorporated herein by reference to Exhibit 3.1 to Amendment No. 2 to the Company's Registration Statement on Form F-1 (File No. 333-251823) filed with the SEC on January 14, 2021). 4.1 Transaction agreement, dated as of September 3, 2021, among Patria Investments Limited, Patria Investments Latam S.A., Moneda Asset Management SpA, the shareholders of Moneda Asset Management SpA and the guarantors named therein (incorporated herein by reference to Exhibit 4.1 to the Annual Report on Form 20-F (File No. 001-39911) filed with the SEC on April 28, 2022). 4.2 First Amendment to transaction agreement, dated as of December 1, 2021, among Patria Investments Limited, Patria Investments Latam S.A., Moneda Asset Management SpA, the shareholders of Moneda Asset Management SpA and the guarantors named therein (incorporated herein by reference to Exhibit 4.2 to the Annual Report on Form 20-F (File No. 001-39911) filed with the SEC on April 28, 2022). 6.1 Long-Term Incentive Plan (incorporated herein by reference to Exhibit 99 to the Company's Registration Statement on Form S-8 (File No. 333-268577) filed with the SEC on November 28, 2022). 6.2 Long-Term Incentive Plan (incorporated herein by reference to Exhibit 99 to the Company's Registration Statement on Form S-8 (File No. 333-277375) filed with the SEC on February 26, 2024). 6.3 Bonus Share Plan (incorporated herein by reference to Exhibit 99 to the Company's Registration Statement on Form S-8 (File No. 333-277376) filed with the SEC on February 27, 2024). 8.1 List of subsidiaries. 10.1 Form of indemnification agreement (incorporated herein by reference to Exhibit 10.1 to Amendment No. 2 to the Company's Registration Statement on Form F-1 (File No. 333-251823) filed with the SEC on January 14, 2021). 12.1* Certification pursuant to section 302 of the Sarbanes-Oxley

SIGNATURES

SIGNATURES The registrant hereby certifies that it meets all of the requirements for filing on Form 20-F and that it has duly caused and authorized the undersigned to sign this Amendment No. 1 to the annual report on its behalf. PATRIA INVESTMENTS LIMITED October 11, 2024 By: /s/ Alexandre Teixeira de Assumpo Saigh Name: Alexandre Teixeira de Assumpo Saigh Title: Chief Executive Officer By: /s/ Ana Cristina Russo Name: Ana Cristina Russo Title: Chief Financial Officer Table of Contents INDEX TO CONSOLIDATED FINANCIAL STATEMENTS Page Report of Independent Registered Public Accounting Firm (PCAOB ID No. 1045 ) F-2 Audited Consolidated Financial Statements—Patria Investments Limited Consolidated Statement of Financial Position as of December 31, 2023 and 2022 F- 7 Consolidated Income Statement for the years ended December 31, 2023, 2022 and 2021 F- 8 Consolidated Statement of Comprehensive Income for the years ended December 31, 2023, 2022 and 2021 F- 9 Consolidated Statement of Changes in Equity for the years ended December 31, 2023, 2022 and 2021 F- 10 Consolidated Statement of Cash Flows for the years ended December 31, 2023, 2022 and 2021 F- 11 Notes to the Consolidated Financial Statements as of December 31, 2023 and 2022 and for the years ended December 31, 2023, 2022 and 2021 F- 12 F-1 Table of Contents Deloitte Touche Tohmatsu Dr. Chucri Zaidan Avenue, 1.240 - 4 th to 12 th floors - Golden Tower 04711-130 - So Paulo - SP Brazil Tel.: + 55 (11) 5186-1000 Fax: + 55 (11) 5181-2911 www.deloitte.com.br REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the shareholders and the Board of Directors of Patria Investments Limited Opinion on the Financial Statements We have audited the accompanying consolidated statements of financial position of Patria Investments Limited and subsidiaries (the "Company") as of December 31, 2023 and 2022, the related consolidated income statements and consolidated stateme

View Full Filing

View this 20-F/A filing on SEC EDGAR