Filing Details

Accession Number:
0000902664-23-003535
Form Type:
4
Zero Holdings:
No
Publication Time:
2023-06-12 17:22:43
Reporting Period:
2023-06-09
Accepted Time:
2023-06-12 17:22:43
SEC Url:
Form 4 Filing
Issuer
Cik Name Symbol Sector (SIC) IRS No
1735707 Garrett Motion Inc. GTX () DE
Insiders
Cik Name Reported Address Insider Title Director Officer Large Shareholder Other
1166564 Cyrus Capital Partners, L.p. 65 East 55 Street
35Th Floor
New York NY 10022
No No Yes No
1166774 Cyrus Capital Partners Gp, Llc 65 East 55Th Street, 35Th Floor
New York NY 10022
No No Yes No
1251783 C Stephen Freidheim C/O Cyrus Capital Partners, L.p.
65 East 55Th Street, 35Th Floor
New York NY 10022
No No Yes No
Reported Non-Derivative Transactions
Sec. Name Acquisiton - Disposition Date Amount Price Remaning Holdings Equity Swap Involved Form Type Code Nature of Ownership Explanation
Common Stock Disposition 2023-06-09 1,086,472 $8.20 8,785,154 No 4 S Indirect See footnotes
Common Stock Acquisiton 2023-06-12 23,636,315 $0.00 34,888,600 No 4 C Indirect See footnotes
Equity Swap Involved Form Type Code Nature of Ownership Explanation
No 4 S Indirect See footnotes
No 4 C Indirect See footnotes
Reported Derivative Transactions
Sec. Name Sec. Type Acquisiton - Disposition Date Amount Price Amount - 2 Price - 2
Common Stock Series A Preferred Stock Disposition 2023-06-12 23,636,315 $0.00 23,636,315 $0.00
Remaning Holdings Exercise Date Expiration Date Equity Swap Involved Transaction Form Type Transaction Code Nature of Ownership
0 No 4 C Indirect
Footnotes
  1. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $8.20 to $8.245, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth herein.
  2. The Series A Preferred Stock automatically converted pursuant to the amendment and restatement of the certificate of designations for the Series A Preferred Stock. Each share of Series A Preferred Stock automatically converted into one (1) fully-paid, non-assessable share of common stock.
  3. This amount includes 2,467,131 shares of common stock, which the Reporting Persons expect the Cyrus Funds to receive on or about June 20, 2023, following the conversion as payment of accrued interest on the Series A Preferred Stock as disclosed in the Issuer's Current Report on Form 8-K filed with the Securities and Exchange Commission on June 2, 2023. The Reporting Persons will file an amendment to this Form 4 to the extent the actual amount of shares of common stock received in payment of accrued interest differs in any material respect.
  4. These securities of the Company are beneficially owned by (i) Cyrus Capital Partners, L.P. ("Cyrus Capital Partners"), as a result of being the investment manager of certain private investment funds that directly hold the securities, including Cyrus 1740 Master Fund, L.P., Canary SC Master Fund, L.P., Cyrus Opportunities Master Fund II, Ltd., Crescent 1, L.P., CRS Master Fund, L.P., Cyrus Select Opportunities Master Fund, Ltd., Cyrus Select Opportunities Master Fund II, L.P., PC Investors III LLC, and Peterson Capital Investors LLC (the "Cyrus Funds"), (ii) Cyrus Capital Partners GP, L.L.C. ("Cyrus Capital GP"), as a result of being the sole general partner of Cyrus Capital Partners, and (iii) Stephen C. Freidheim, as a result of being the Chief Investment Officer of Cyrus Capital Partners and the sole member and manager of Cyrus Capital GP (collectively, the "Reporting Persons").
  5. (Continued from footnote 4) Each of the Reporting Persons disclaims beneficial ownership of any securities reported by any person except to the extent of their pecuniary interest therein.