Patria Investments Ltd-A 2025年年度报告和过渡报告

FORM20-F (Mark One) REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Patria Investments Limited (Exact name of Registrant as specified in its charter)_________________________Not applicable(Translation of Registrant’s name into English)Cayman Islands(Jurisdiction of incorporation or organization)60 Nexus Way, 4th floor,Camana Bay, PO Box 757,KY1-9006Grand Cayman,Cayman Islands+1 345640 4900(Address of principal executive offices)Ana Cristina Russo, Chief Financial OfficerTel: +1 345640 490060 Nexus Way, 4 floor,Camana Bay, PO Box 757,KY1-9006Grand Cayman,Cayman Islands(Name, Telephone, E-mail and/or Facsimile number and Address of Company Contact Person)Copies to:Manuel GarciadiazDavis Polk & Wardwell LLP450 Lexington AvenueNew York, NY 10017Phone: (212) 450-4000Fax: (212) 450-6858_________________________ Securities registered or to be registered pursuant to Section 12(b) of the Act: Title of each classTradingSymbolName of each exchangeon which registeredClass A common shares, par value US$0.0001 per sharePAXThe Nasdaq Global Select Market None Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act: YesxNoo If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities YesoNox Note– Checking the box above will not relieve any registrant required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 from theirobligations under those Sections. Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during thepreceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90days. YesxNoo Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T(§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). YesxNoo Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or an emerging growth company. See definition of“large accelerated filer,” “accelerated filer,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use theextended transition period for complying with any new or revised financial accounting standards† provided pursuant to Section 13(a) of the Exchange Act.o † The term “new or revised financial accounting standard” refers to any update issued by the Financial Accounting Standards Board to its Accounting StandardsCodification after April 5, 2012. Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financialreporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report:x If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect thecorrection of an error to previously issued financial statements.o Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of theregistrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b):☐ Indicate by check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing: oU.S. GAAPxInternational Financial Reporting Standardsas issued by the International AccountingStandards BoardoOther If “Other” has been checked in response to the previous question, indicate by check mark which financial statement item the registrant has elected to follow. oItem 17oItem 18 If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). YesoNox TABLE OF CONTENTS Presentation of Financial and Other InformationCautionary Statement Regarding Forward-Looking Statements ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS A.Directors and Senior ManagementB.AdvisersC.Auditors ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE A.Offer StatisticsB.Method and Expected Timetable ITEM 3. KEY INFORMATION A.[Reserved]B.Capitalization and IndebtednessC.Rea