Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an

Off-Balance Sheet Arrangement of a Registrant.

On January 28, 2022, Primavera Capital Acquisition Corporation (the "Company") issued an unsecured promissory note (the "Note") in the amount of up to $500,000 to Primavera Capital Acquisition LLC (the "Payee"). The proceeds of the Note, which may be drawn down from time to time until the Company consummates its initial business combination, will be used for general working capital purposes.

The Note bears no interest and is payable in full upon the earlier to occur of (i) twenty-four (24) months from the closing of the initial public offering (or such later date as may be extended in accordance with the terms of the Company's Amended and Restated Memorandum and Articles of Association) or (ii) the consummation of the Company's business combination. A failure to pay the principal within five business days of the date specified above or the commencement of a voluntary or involuntary bankruptcy action shall be deemed an event of default, in which case the Note may be accelerated. The affiliates of the Payee have the option to convert any unpaid balance of the Note into private placement warrants (the "Conversion Warrants"), each warrant exercisable for one ordinary share of the Company at an exercise price of $1.00 per share. The terms of the Conversion Warrants would be identical to the warrants issued by the Company to affiliates of the Payee in a private placement that was consummated in connection with the Company's initial public offering. The affiliates of the Payee shall be entitled to certain registration rights relating to the Conversion Warrants.

The issuance of the Note was made pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act of 1933, as amended.

A copy of the Note is attached as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference. The disclosures set forth in this Item 2.03 are intended to be summaries only and are qualified in their entirety by reference to the Note.

Item 9.01. Financial Statements and Exhibits.






(d) Exhibits




Exhibit No.       Description

10.1                Promissory Note dated January 28, 2022, issued by Primavera
                  Capital Acquisition Corporation to Primavera Capital Acquisition
                  LLC

104               Cover Page Interactive Data File (embedded within the Inline XBRL
                  document)

--------------------------------------------------------------------------------

© Edgar Online, source Glimpses