Company Summary

Name: Patria Latin American Opportunity Acquisition Corp.
Jurisdiction: Cayman Islands (exempted company)
Inception Date: Before March 14, 2022 (initial public offering date)
Purpose: A blank check company created to effectuate a business combination with one or more businesses.
Primary Focus: Latin America, leveraging Patria's regional expertise and operational track record.

Business Operations

• Type: Special Purpose Acquisition Company (SPAC), also known as a blank check company.

• Main Activities:

  • Organizational activities since inception.
  • Preparation for initial public offering (IPO).
  • Search and identification of a target business for acquisition.
  • No current operations or revenues from any business.

• Target Industry Sectors (Intended):

  • Healthcare
  • Food and beverage
  • Logistics
  • Agribusiness
  • Education
  • Financial services

• Geographical Focus: Latin America with possible operations in other regions.

• Business Strategy:

  • Identify established businesses with scale and growth prospects.
  • Partner with management teams to create value through operational improvements.
  • Leverage Patria’s extensive investment platform, relationships, and operational capabilities.
  • Focus on sectors where Patria has developed investment expertise.

Company History & Key Transactions

• Initial Public Offering (IPO):

  • Date: March 14, 2022
  • Units Sold: 23 million units at $10.00 each, gross proceeds of $230 million.
  • Private Placement Warrants: 14.5 million warrants sold to sponsor for $1.00 each, gross proceeds of $14.5 million.
  • Trust Account: $236.9 million secured for initial business combination.

• Corporate Extensions & Delistings:

  • Extensions to June 14, 2024, and September 14, 2025, to complete business combination.
  • Notices of Nasdaq delisting received in November 2024 and March 2025 due to non-compliance with Nasdaq listing rules.
  • As of April 8, 2025, shares, warrants, and units are no longer listed on Nasdaq.

Organizational & Management Details

• Employees:

  • 2 officers (José Augusto Gonçalves de Araújo Teixeira and Ana Cristina Russo).
  • No full-time employees prior to business combination.

• Management & Directors:

  • Integral to the search and diligence process.
  • Potential conflicts of interest due to involvement with other funds and entities affiliated with Patria.

• Sponsor: Patria SPAC LLC, an affiliate of Patria Investments Limited.

• Location of Offices:

  • 60 Nexus Way, 4th Floor, Camana Bay, Grand Cayman, Cayman Islands.

Financials

• Revenue: None (no operational history or revenues).
• Income: None (no business operations yet).
• Cash & Working Capital (as of December 31, 2024):
  • Cash outside trust account: approximately $2,121.00 (minimal funds outside trust).
  • Working capital: negative approx. $5,270,953 indicating ongoing expenses and lack of operational cash flow.
• Assets Under Management (Patria):
  • Total assets: $41.9 billion (as of December 31, 2024).
  • Fee-earning assets: $32.9 billion.
  • Focus on private equity, infrastructure, credit, and public equities in Latin America.

Summary

Patria Latin American Opportunity Acquisition Corp. is a Cayman Islands-registered SPAC formed to identify, negotiate, and acquire a target business primarily in Latin America. The company has not engaged in any operations or generated revenue. It leverages Patria's extensive regional expertise and asset management platform, which manages over $41.9 billion and offers investment opportunities in private equity, credit, infrastructure, and public equity markets across Latin America. The company plans to complete a business combination in sectors like healthcare, logistics, food and beverage, agribusiness, education, or financial services, with a focus on established, scalable businesses with growth potential. It has undergone extensions and is no longer listed on Nasdaq as of March 2025.