Business
Patria Investments Limited Announces Pricing of Initial Public Offering
GRAND CAYMAN, Cayman Islands, Jan. 22, 2021 /PRNewswire/ -- Patria Investments Limited ("Patria"), one of the leading private markets investment firms in
About this update from Patria Investments Limited
[{"type":"text","content":"GRAND CAYMAN, Cayman Islands, Jan. 22, 2021 /PRNewswire/ -- Patria Investments Limited (\"Patria\"), one of the leading private markets investment firms in Latin America, today announced the pricing of its initial public offering of 30,098,824 Class A common shares, consisting of 16,650,000 Class A common shares offered by Patria and 13,448,824 Class A common shares offered by the selling shareholder, Blackstone PAT Holdings IV, L.L.C., pursuant to a registration statement on Form F-1 filed with the U.S. Securities and Exchange Commission (\"SEC\") at a public offering price of $17.00 per share. The Class A common shares are expected to begin trading on the Nasdaq Global Select Market under the ticker symbol \"PAX\" today and the offering is expected to close on January 26, 2021, subject to customary closing conditions.\nIn connection with the offering, Patria and the selling shareholder have granted the underwriters a 30-day option to purchase up to an additional 4,514,823 Class A common shares at the initial public offering price, less underwriting discounts and commissions.\nPatria intends to use the net proceeds from the offering to fund capital commitments to its existing and new funds, for the expansion of its operations through acquisitions of asset managers, portfolios and distribution channels, and for general corporate purposes.\nThe offering is being made through an underwriting group led by J.P. Morgan, BofA Securities and Credit Suisse, who are acting as global coordinators, Goldman Sachs & Co. LLC, who is acting as joint bookrunner, and Bradesco BBI, BTG Pactual, Itaú BBA, Keefe, Bruyette & Woods, Inc., Santander and XP Investments US, LLC, who are acting as co-managers.\nThe offering will be made only by means of a prospectus. When available, copies of the final prospectus may be obtained by contacting: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at 1-866 803 9204, or by email at [email protected]; BofA Securities, Inc., NC1-004-03-43 200 North College Street, 3rd floor Charlotte NC 28255-0001, Attn: Prospectus Department or by email at [email protected]; Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, North Carolina 27560, United States, or by tel...