Primavera Capital Acquisition Corporation announced the pricing of its upsized $360 million IPO this evening and its units are expected to begin trading on the NYSE under the symbol “PV.U” Friday, January 22.
The new company aims to combine with a global consumer business with a significant China presence or compelling China potential. Primavera is led by Founder Fred Hu alongside CEO and CFO Tong Chen.
Total SPAC deal count for 2021 year-to-date is now 66 with $18.8 billion in gross proceeds raised. This offering is expected to close on Tuesday, January 26.
Credit Suisse and Citigroup are acting as the joint book-running managers of the offering. Davis Polk & Wardwell LLP is serving as Issuer’s Counsel with Skadden, Arps, Slate, Meagher & Flom LLP serving as Underwriter’s Counsel. WithumSmith+Brown, PC serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.