Exhibit 4.7



February 28, 2023



TPB Acquisition Corporation I
1 Letterman Drive, Suite A3-1
San Francisco, CA 94129



Lavoro Limited
Av. Dr. Cardoso de Melo, 1450, 5th floor, office 501

São Paulo—SP, 04548-005, Brazil



Lavoro Agro Limited

Av. Dr. Cardoso de Melo, 1450, 5th floor, office 501

São Paulo—SP, 04548-005, Brazil



| | Re: | Amendment No. 2 to Sponsor Letter Agreement (the “Letter Agreement”), dated August 13, 2021, as
amended on September 14, 2022, among TPB Acquisition Corporation I, TPB Acquisition Sponsor I, LLC and the Company’s officers
and directors
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Ladies and Gentlemen:



This Amendment No. 2
to the Letter Agreement (this “Amendment No. 2”) is being delivered, in connection with the closing of
the transactions contemplated by that certain Business Combination Agreement, dated as September 15, 2022, by and among Lavoro Limited,
an exempted company incorporated with limited liability in the Cayman Islands (“New PubCo”), Lavoro Merger Sub
I Limited, an exempted company incorporated with limited liability in the Cayman Islands and a direct, wholly owned subsidiary of New
PubCo (“First Merger Sub”), Lavoro Merger Sub II Limited, an exempted company incorporated with limited liability
in the Cayman Islands and a direct, wholly owned subsidiary of New PubCo (“Second Merger Sub”), Lavoro Merger
Sub III Limited, an exempted company incorporated with limited liability in the Cayman Islands and a direct, wholly owned subsidiary of
New PubCo (“Third Merger Sub” and, together with First Merger Sub and Second Merger Sub, the “Merger Subs”),
Lavoro Agro Limited, an exempted company incorporated with limited liability in the Cayman Islands (“Lavoro”),
and TPB Acquisition Corporation I, an exempted company incorporated with limited liability in the Cayman Islands (the “Company”)
(as it may be amended, restated or otherwise modified from time to time in accordance with its terms, the “Business Combination
Agreement”). Capitalized terms used but not otherwise defined herein shall have the meanings ascribed to such terms in the
Letter Agreement.



Now in consideration of the
foregoing and the mutual agreements contained herein, and intending to be legally bound hereby, the parties hereto hereby agree as follows:



| | 1. | Section 5 of the Letter Agreement, as amended, is hereby deleted and replaced in its entirety with
the following:
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| | (a) | Vesting Founder Shares. Subject to, and conditioned upon the Third Effective Time (as defined in
the Business Combination Agreement), Sponsor agrees that two-thirds (3,006,049) of the Founder Shares shall be deemed to be “Vesting
Founder Shares,” subject to the vesting schedule detailed in Sections 5(a)(i)-(ii) below, and the remaining one-third (1,503,025)
of the Founder Shares, shall be fully vested at the Third Effective Time (as defined in the Business Combination Agreement) and shall
be deemed to be “Retained Founder Shares,” provided however that the vesting of both the Vesting Founder Shares and
the Retained Founder Shares shall be subject to the Ownership Limitation (as defined below). Subject to, and conditioned upon the occurrence
of and effective immediately after the Third Effective Time, the Vesting Founder Shares shall be unvested and subject to the restrictions
set forth in this Sponsor Letter Agreement. The Vesting Founder Shares shall vest and, except as otherwise provided in this Section 5,
shall become free of the provisions set forth in this Section 5 as follows:
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| | (i) | with respect to one-half of the Vesting Founder Shares (i.e., 1,503,025 Founder Shares) (the “12.50
Vesting Founder Shares”), if at any time during the 3-year period following the Closing Date (the end of such period,
the “Vesting Release Date”), the closing share price of the New PubCo Ordinary Shares is greater than or equal to $12.50
over any 20 trading days within any consecutive 30 trading day period, then the 12.50 Vesting Founder Shares shall vest, subject to the
Ownership Limitation, and become free of the provisions set forth in this Section 5(a).
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| | (ii) | with respect to one-half of the Vesting Founder Shares (i.e., 1,503,024 Founder Shares) (the “15.00
Vesting Founder Shares”), if at any time prior to the Vesting Release Date, the closing share price of the New PubCo Ordinary
Shares is greater than or equal to $15.00 over any 20 trading days within any consecutive 30 trading day period, then the 15.00 Vesting
Founder Shares shall vest, subject to the Ownership Limitation, and become free of the provisions set forth in this Section 5(a).
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| | (iii) | If the Vesting Release Date occurs on a day that is not a trading day, then the “Vesting Release
Date” shall for all purposes of this Sponsor Letter Agreement be deemed to occur on the next following Trading Day. Any Vesting
Founder Shares that have not vested in accordance with Sections 5(a)(i)-(ii) on or before the Vesting Release Date will be
immediately forfeited at 11:59 p.m., New York, New York time on the Vesting Release Date. Notwithstanding the foregoing, any Vesting Founder
Shares that would have vested in accordance with Sections 5(a)(i)-(ii) but for the Ownership Limitation, shall not be subject
to forfeiture on the Vesting Release Date.
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| | (iv) | The New PubCo Ordinary Share price targets in Sections 5(a)(i)-(ii) shall be equitably adjusted
for stock splits, stock dividends, cash dividends, reorganizations, combinations, recapitalizations and similar transactions affecting
the New PubCo Ordinary Shares after the Third Effective Time.
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| | (v) | If, prior to the Vesting Release Date, there is a Liquidation Event (as defined below), then the Vesting
Founder Shares shall vest and become free of the provisions set forth in this Section 5 effective as of immediately prior
to the consummation of such Liquidation Event, or otherwise treated as so issued in connection therewith, so as to ensure that the Sponsor
shall receive such Vesting Founder Shares, and all proceeds thereof, in connection with such Liquidation Event.
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| | (vi) | At any time prior to the Vesting Release Date, the Sponsor agrees that it shall not Transfer any Vesting
Founder Shares except as otherwise permitted pursuant to Section 5(c) below, and the Vesting Founder Shares shall include
customary transfer legends on any certificates for the Vesting Founder Shares reflecting such restriction. At the time that any Vesting
Founder Shares become vested pursuant to this Section 5(a), New PubCo shall remove any legends, stock transfer restrictions,
stop transfer orders or similar restrictions with respect to the Vesting Founder Shares related to such vesting (other than, for the avoidance
of doubt, those that relate to any applicable and then-existing transfer restrictions applicable during the Lock-Up Period with respect
to such Vesting Founder Shares pursuant this Sponsor Letter Agreement, the Business Combination Agreement or any other Transaction Agreements).
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| | (vii) | The Sponsor shall not, and hereby waives any right to, vote (whether at any meeting of the holders of
New PubCo Ordinary Shares, by written resolution or otherwise) the Vesting Founder Shares owned by it during any period of time that such
Vesting Founder Shares are subject to vesting pursuant to the terms of this Section 5.
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2







| | (viii) | Any dividends or other distributions paid with respect to the Vesting Founder Shares during any period
of time that such Vesting Founding Shares are subject to vesting pursuant to the terms of this Section 5 shall be deposited
by New PubCo for the benefit of the Sponsor in a separate account held and maintained solely for the benefit of Sponsor (the “Escrow
Account”), subject to the terms and conditions of that certain Escrow Agreement to be entered into by and between the parties
hereto in form and substance attached as Exhibit A (the “Escrow Agreement”). The parties agree that for U.S. federal,
state and local tax purposes, Sponsor is the owner of the Vesting Founder Shares and the Escrow Account, and in furtherance of the foregoing,
Sponsor will be treated as the recipient of (A) any dividends or other distributions paid with respect to the Vesting Founder Shares
(“Dividends”) and (B) any interest or other income or gains earned with respect to amounts held in the Escrow
Account (“Escrow Income”), whether or not ultimately distributed from the Escrow Account to Sponsor. Upon the vesting
of any Vesting Founder Shares pursuant to this Section 5, New PubCo shall instruct the escrow agent to release any amounts
held in the Escrow Account (including Dividends and Escrow Income) in respect of such Vesting Founder Shares to Sponsor. In the event
that any Vesting Founder Shares are forfeited pursuant to the terms of this Section 5, then any amounts held in the Escrow
Account (including Dividends and Escrow Income) in respect of such Vesting Founder Shares forfeited pursuant to this Section 5
shall be distributed from the Escrow Account to the Company, such payment to be made in the manner set forth in the Escrow Agreement.
For the avoidance of doubt, no tax reporting shall be required in respect of the release of all or a portion of any amounts from the Escrow
Account to Sponsor, and Sponsor shall be responsible for paying taxes (including any penalties and interest thereon) on all taxable Dividends
and any Escrow Income, and for filing all necessary tax returns with respect to such income.
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| | (ix) | Except as otherwise provided in this Sponsor Letter Agreement, the Sponsor shall retain all of its rights
as a shareholder of New PubCo with respect to the Vesting Founder Shares owned by it during any period of time that such shares are subject
to vesting pursuant to the terms of this Section 5(a).
| | ---- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (x) | Notwithstanding anything to
the contrary herein, all or a portion of each of the Retained Founder Shares and Vesting Founder Shares shall not vest to the extent that
after giving effect to the vesting of such Founder Shares, the Sponsor would beneficially own a number of New PubCo Ordinary Shares in
excess of 9.99% of the number of New PubCo Ordinary shares outstanding immediately after giving effect to the vesting of Retained Founder
Shares or Vesting Founder Shares, as applicable (the “Ownership Limitation”). For purposes of the foregoing
sentence, the number of New PubCo Ordinary Shares beneficially owned by the Sponsor shall include the number of New PubCo Ordinary Shares
held by the Sponsor, plus(i) the number of Vesting Founder Shares or Retained Founder Shares, as the case may be, with respect
to which such determination is being made and (ii) the number of New PubCo Ordinary Shares issuable upon exercise or conversion of
the unexercised or unconverted portion of any other securities of New PubCo beneficially owned by the Sponsor, but shall exclude (i) the
number of unvested Founder Shares and (ii) the number of New PubCo Ordinary Shares issuable upon exercise or conversion of the unexercised
or unconverted portion of any other securities of New PubCo beneficially owned by the Sponsor subject to a limitation on conversion or
exercise analogous to the ownership limitation contained in this Section 5(x).
Any Founder Shares that would otherwise vest pursuant to Sections 5(a) but remain unvested subject to the Ownership Limitation
shall vest at the earlier of such time as (a) when the Ownership Limitation would not be exceeded or (b) when the Sponsor may
elect, in its sole discretion, to waive the Ownership Limitation by written notice to New PubCo. For purposes of this Section 5(a)(x),
beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended.
In determining the number of outstanding New PubCo Ordinary Shares which may vest without exceeding the Ownership Limitation, New PubCo
shall confirm orally and in writing by electronic mail to the Sponsor the number of New PubCo Ordinary Shares then outstanding. The Sponsor
may elect in its sole discretion, at any time and by written notice to New PubCo, to increase or decrease the Ownership Limitation.
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| | (xi) | Notwithstanding the expiration of any Lock-Up Period with respect to any Vesting Founder Shares,
such Vesting Founder Shares shall remain subject to any applicable restrictions set forth in Section 5 until vested or forfeited
in accordance with the terms of this Section 5.
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3







| | (b) | The Sponsor agrees that it shall not Transfer: (i) 3,006,049 of the Vesting Founder Shares (“Founder
Lock-Up Shares”) and 1,398,025 of the New PubCo Ordinary Shares (“PIPE Lock-Up Shares”, and together
with the Founder Lock-Up Shares and Insider Lock-Up Shares, the “Lock-Up Shares”) acquired by the Sponsor pursuant
to that certain Subscription Agreement, dated September 15, 2022, by and between the Sponsor and the Company until 24 months after
the completion of the Closing; and (ii) any Private Placement Warrants (or any New PubCo Ordinary Shares underlying the Private Placement
Warrants) until 30 days after the completion of the Closing (the “Private Placement Warrants Lock-Up”, together
with the Lock-Up Shares, the “Lock-Up”). Notwithstanding the foregoing, (i) 50% of the Lock-Up Shares shall
be released from the Lock-Up 12 months subsequent to the Closing Date, (ii) an additional 25% of the Lock-Up Shares (i.e. totaling
an aggregate of 75% of the Lock-Up Shares) shall be released from the Lock-Up 18 months subsequent to the Closing Date, and (iii) the
remaining 25% of the Lock-Up Shares (i.e. totaling an aggregate of 100% of the Lock-Up Shares) shall be released from the Lock-Up 24 months
subsequent to the Closing Date. The Lock-Up shall terminate and be of no further force or effect upon the date of a liquidation, merger,
capital stock exchange, reorganization, sale of all or substantially all assets or other similar transaction involving New PubCo upon
the consummation of which holders of New PubCo Ordinary Shares would be entitled to exchange their New PubCo Ordinary Shares for cash,
securities or other property following the Closing (a “Liquidation Event”).
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| | (c) | Notwithstanding the provisions set forth in paragraphs 5(a)-(b), Transfers of Lock-Up Shares or Private
Placement Warrants (or any New PubCo Ordinary Shares underlying the Private Placement Warrants) subject to the Lock-Up (the “Lock-Up
Securities”) are permitted (i) to the Company’s officers or directors, any affiliate or family member of any
of the Company’s officers or directors, any members or partners of the Sponsor or their affiliates, any affiliates of the Sponsor,
or any employees of such affiliates; (ii) in the case of an individual, by gift to a member of one of the individual’s immediate
family or to a trust, the beneficiary of which is a member of the individual’s immediate family, an affiliate of such person or
to a charitable organization; (iii) in the case of an individual, by virtue of laws of descent and distribution upon death of the
individual; (iv) in the case of an individual, pursuant to a qualified domestic relations order; (v) by private sales or transfers
made in connection with any forward purchase agreement or similar arrangement or in connection with the consummation of a Business Combination
at prices no greater than the price at which the Lock-Up Securities, or Ordinary Shares, as applicable, were originally purchased; (vi) by
virtue of the Sponsor’s organizational documents upon liquidation or dissolution of the Sponsor; (vii) to the Company for no
value for cancellation in connection with the consummation of an initial Business Combination, (viii) in the event of the Company’s
liquidation prior to the completion of a Business Combination; (ix) in connection with a pledge of Lock-Up Securities to a financial
institution, including the enforcement of any such pledge by a financial institution; and provided, however, that in the case of clauses
(i) through (vi) these permitted transferees must enter into a written agreement agreeing to be bound by these transfer restrictions.
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[Signature Pages Follow]





4







| | Sincerely,                    
| | ------------------------------
| |                               
| | TPB ACQUISITION SPONSOR I, LLC
| |                               
| | By:                           
| | Name:                         
| | Title:                        



[Signature
Page to Amendment to Letter Agreement]













Acknowledged and Agreed:



|TPB ACQUISITION CORPORATION I |                        
|----------------------------- | -----------------------
|                              |                        
|By:                           | /s/ David Friedberg    
|Name:                         | David Friedberg        
|Title:                        | Chief Executive Officer



[Signature
Page to Amendment to Letter Agreement]













Acknowledged and Agreed:



DIRECTORS AND OFFICERS OF TPB ACQUISITION CORPORATION I



|/s/ David Friedberg  | 
|-------------------- | 
|David Friedberg      | 
|                     | 
|/s/ William Hauser   | 
|William Hauser       | 
|                     | 
|/s/ Bharat Vasan     | 
|Bharat Vasan         | 
|                     | 
|/s/ Kerry Cooper     | 
|Kerry Whorton Cooper | 
|                     | 
|/s/ Neil Renninger   | 
|Neil Renninger       | 
|                     | 
|/s/ April Underwood  | 
|April Underwood      | 



[Signature
Page to Amendment to Letter Agreement]













Acknowledged and Agreed:



|LAVORO AGRO LIMITED |                           
|------------------- | --------------------------
|                    |                           
|By:                 | /s/ Laurence Beltrão Gomes
|Name:               | Laurence Beltrão Gomes    
|Title:              | Director                  



[Signature
Page to Amendment to Letter Agreement]













Acknowledged and Agreed:



|LAVORO LIMITED |                               
|-------------- | ------------------------------
|               |                               
|By:            | /s/ Daniel Fisberg            
|Name:          | Daniel Fisberg                
|Title:         | Director                      
|               |                               
|               |                               
|By:            | /s/ Marcos Haaland            
|Name:          | Marcos de Mello Mattos Haaland
|Title:         | Director                      



[Signature
Page to Amendment to Letter Agreement]