VALOR LATITUDE ACQUISITION CORP. : Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant, Financial Statements and Exhibits (form 8-K)

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-balance Sheet Arrangement of a Registrant.

On February 15, 2023, Valor Latitude Acquisition Corp. (the "Company") issued an unsecured promissory note (the "Note") in the amount of $100,000 to Valor Latitude LLC (the "Sponsor"). The proceeds of the Note will be used by the Company for general working capital purposes.

The Note bears no interest and is payable in full upon the earlier to occur of (i) May 5, 2023 or (ii) the consummation of the Company's initial 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 Sponsor has the option to convert any unpaid balance of the Note into warrants (the "Conversion Warrants"), each whole warrant entitling the holder thereof to purchase one Class A ordinary share at a price of $11.50 per Class A ordinary share, subject to adjustment. The terms of the Conversion Warrants would be identical to the warrants issued by the Company in a private placement that was consummated in connection with the Company's initial public offering. The Sponsor is 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 February 15, 2023, issued by Valor Latitude
              Acquisition Corp. to Valor Latitude LLC.
    104       Cover Page Interactive Data File (embedded within the Inline XBRL
              document)

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