Primavera Capital Acquisition Corporation announced that it has entered into a purchase agreement with Primavera Capital Acquisition Llc for a private placement of 8,000,000 private placement warrants at a price of $1 per warrant for gross proceeds of $8,000,000 on January 6, 2021. Each warrant is exercisable to purchase one Class A ordinary share at $11.50 per share. The company will issue 8,900,000 warrants if the underwriters’ over-allotment option is exercised in full. The securities are subject to a hold period until 30 days after the completion of the company's initial business combination. The warrants will expire five years after the completion of the company's initial business combination.