Filing Details
- Accession Number:
- 0000895345-23-000674
- Form Type:
- 13D Filing
- Publication Date:
- 2023-12-13 19:00:00
- Filed By:
- Centerbridge Credit Partners Master, L.p.
- Company:
- Garrett Motion Inc. (NYSE:GTX)
- Filing Date:
- 2023-12-14
- SEC Url:
- 13D Filing
Ownership Summary
Please notice the below summary table is generated without human intervention and may contain errors. Please refer to the complete filing displayed below for exact figures.
Name | Sole Voting Power | Shared Voting Power | Sole Dispositive Power | Shared Dispositive Power | Aggregate Amount Owned Power | Percent of Class |
---|---|---|---|---|---|---|
Centerbridge Credit Partners Master | 11,287,784 | 11,287,784 | 11,287,784 | 4.66% | ||
Centerbridge Credit Partners Offshore General Partner | 11,287,784 | 11,287,784 | 11,287,784 | 4.66% | ||
Centerbridge Credit Cayman GP, Ltd | 11,287,784 | 11,287,784 | 11,287,784 | 4.66% | ||
Centerbridge Credit GP Investors | 11,287,784 | 11,287,784 | 11,287,784 | 4.66% | ||
Centerbridge Special Credit Partners III-Flex | 28,527,706 | 28,527,706 | 28,527,706 | 11.77% | ||
Centerbridge Special Credit Partners General Partner III | 28,527,706 | 28,527,706 | 28,527,706 | 11.77% | ||
CSCP III Cayman GP Ltd | 28,527,706 | 28,527,706 | 28,527,706 | 11.77% | ||
Jeffrey H. Aronson | 39,815,490 | 39,815,490 | 39,815,490 | 16.42% |
Filing
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 4)*
Garrett Motion Inc.
(Name of Issuer)
Common Stock, $0.001 par value per share
(Title of Class of Securities)
366505105
(CUSIP Number)
Susanne V. Clark
Senior Managing Director, General Counsel and Chief Sustainability Officer
c/o Centerbridge Partners, L.P.
375 Park Avenue, 11th Floor
New York, New York 10152
(212) 672-5000
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
December 13, 2023
(Date of Event Which Requires Filing of This Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this
schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box ☐.
Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all
exhibits. See Rule 13d-7 for other parties to whom copies are to be sent.
* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent
amendment containing information which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”)
or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
Page 1 of 12
CUSIP No. 366505105 | Schedule 13D | Page 2 of 12 |
1 | NAMES OF REPORTING PERSONS | | | ||
Centerbridge Credit Partners Master, L.P. | | | |||
| | ||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) | ☐ | ||
(b) | ☒ | ||||
| | ||||
3 | SEC USE ONLY | | | ||
| | | |||
| | ||||
4 | SOURCE OF FUNDS (SEE INSTRUCTIONS) | | | ||
OO | | | |||
| | ||||
5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E) | | ☐ | ||
| | ||||
| | ||||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION | | | ||
Cayman Islands | | | |||
| | ||||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER | | | |
None | | | |||
| | ||||
8 | SHARED VOTING POWER | | | ||
11,287,784 | | | |||
| | ||||
9 | SOLE DISPOSITIVE POWER | | | ||
None | | | |||
| | ||||
10 | SHARED DISPOSITIVE POWER | | | ||
11,287,784 | | | |||
| | ||||
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | | | ||
11,287,784 | | | |||
| | ||||
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) | | ☐ | ||
| | ||||
| | ||||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | | | ||
4.66% (1) | | | |||
| | ||||
14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) | | | ||
PN | | | |||
| |
(1) All calculations of percentage ownership herein are based on a total of 242,419,764 shares of Common Stock issued and outstanding on
October 18, 2023, as reported by Garrett Motion Inc. in a Form 10-Q filed on October 24, 2023, which reflects a decrease in the number of shares of the Issuer’s Common Stock outstanding since the Reporting Persons filed Amendment No. 3 to
the Original Schedule 13D.
CUSIP No. 366505105 | Schedule 13D | Page 3 of 12 |
1 | NAMES OF REPORTING PERSONS | | | ||
Centerbridge Credit Partners Offshore General Partner, L.P. | | | |||
| | ||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) | ☐ | ||
(b) | ☒ | ||||
| | ||||
3 | SEC USE ONLY | | | ||
| | | |||
| | ||||
4 | SOURCE OF FUNDS (SEE INSTRUCTIONS) | | | ||
OO | | | |||
| | ||||
5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E) | | ☐ | ||
| | ||||
| | ||||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION | | | ||
Delaware | | | |||
| | ||||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER | | | |
None | | | |||
| | ||||
8 | SHARED VOTING POWER | | | ||
11,287,784 | | | |||
| | ||||
9 | SOLE DISPOSITIVE POWER | | | ||
None | | | |||
| | ||||
10 | SHARED DISPOSITIVE POWER | | | ||
11,287,784 | | | |||
| | ||||
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | | | ||
11,287,784 | | | |||
| | ||||
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) | | ☐ | ||
| | ||||
| | ||||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | | | ||
4.66% | | | |||
| | ||||
14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) | | | ||
PN | | | |||
| |
CUSIP No. 366505105 | Schedule 13D | Page 4 of 12 |
1 | NAMES OF REPORTING PERSONS | | | ||
Centerbridge Credit Cayman GP, Ltd. | | | |||
| | ||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) | ☐ | ||
(b) | ☒ | ||||
| | ||||
3 | SEC USE ONLY | | | ||
| | | |||
| | ||||
4 | SOURCE OF FUNDS (SEE INSTRUCTIONS) | | | ||
OO | | | |||
| | ||||
5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E) | | ☐ | ||
| | ||||
| | ||||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION | | | ||
Cayman Islands | | | |||
| | ||||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER | | | |
None | | | |||
| | ||||
8 | SHARED VOTING POWER | | | ||
11,287,784 | | | |||
| | ||||
9 | SOLE DISPOSITIVE POWER | | | ||
None | | | |||
| | ||||
10 | SHARED DISPOSITIVE POWER | | | ||
11,287,784 | | | |||
| | ||||
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | | | ||
11,287,784 | | | |||
| | ||||
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) | | ☐ | ||
| | ||||
| | ||||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | | | ||
4.66% | | | |||
| | ||||
14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) | | | ||
OO | | | |||
| |
CUSIP No. 366505105 | Schedule 13D | Page 5 of 12 |
1 | NAMES OF REPORTING PERSONS | | | ||
Centerbridge Credit GP Investors, L.L.C. | | | |||
| | ||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) | ☐ | ||
(b) | ☒ | ||||
| | ||||
3 | SEC USE ONLY | | | ||
| | | |||
| | ||||
4 | SOURCE OF FUNDS (SEE INSTRUCTIONS) | | | ||
OO | | | |||
| | ||||
5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E) | | ☐ | ||
| | ||||
| | ||||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION | | | ||
Delaware | | | |||
| | ||||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER | | | |
None | | | |||
| | ||||
8 | SHARED VOTING POWER | | | ||
11,287,784 | | | |||
| | ||||
9 | SOLE DISPOSITIVE POWER | | | ||
None | | | |||
| | ||||
10 | SHARED DISPOSITIVE POWER | | | ||
11,287,784 | | | |||
| | ||||
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | | | ||
11,287,784 | | | |||
| | ||||
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) | | ☐ | ||
| | ||||
| | ||||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | | | ||
4.66% | | | |||
| | ||||
14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) | | | ||
OO | | | |||
| |
CUSIP No. 366505105 | Schedule 13D | Page 6 of 12 |
1 | NAMES OF REPORTING PERSONS | | | ||
Centerbridge Special Credit Partners III-Flex, L.P. | | | |||
| | ||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) | ☐ | ||
(b) | ☒ | ||||
| | ||||
3 | SEC USE ONLY | | | ||
| | | |||
| | ||||
4 | SOURCE OF FUNDS (SEE INSTRUCTIONS) | | | ||
OO | | | |||
| | ||||
5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E) | | ☐ | ||
| | ||||
| | ||||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION | | | ||
Delaware | | | |||
| | ||||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER | | | |
None | | | |||
| | ||||
8 | SHARED VOTING POWER | | | ||
28,527,706 | | | |||
| | ||||
9 | SOLE DISPOSITIVE POWER | | | ||
None | | | |||
| | ||||
10 | SHARED DISPOSITIVE POWER | | | ||
28,527,706 | | | |||
| | ||||
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | | | ||
28,527,706 | | | |||
| | ||||
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) | | ☐ | ||
| | ||||
| | ||||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | | | ||
11.77% | | | |||
| | ||||
14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) | | | ||
PN | | | |||
| |
CUSIP No. 366505105 | Schedule 13D | Page 7 of 12 |
1 | NAMES OF REPORTING PERSONS | | | ||
Centerbridge Special Credit Partners General Partner III, L.P. | | | |||
| | ||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) | ☐ | ||
(b) | ☒ | ||||
| | ||||
3 | SEC USE ONLY | | | ||
| | | |||
| | ||||
4 | SOURCE OF FUNDS (SEE INSTRUCTIONS) | | | ||
OO | | | |||
| | ||||
5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E) | | ☐ | ||
| | ||||
| | ||||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION | | | ||
Delaware | | | |||
| | ||||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER | | | |
None | | | |||
| | ||||
8 | SHARED VOTING POWER | | | ||
28,527,706 | | | |||
| | ||||
9 | SOLE DISPOSITIVE POWER | | | ||
None | | | |||
| | ||||
10 | SHARED DISPOSITIVE POWER | | | ||
28,527,706 | | | |||
| | ||||
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | | | ||
28,527,706 | | | |||
| | ||||
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) | | ☐ | ||
| | ||||
| | ||||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | | | ||
11.77% | | | |||
| | ||||
14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) | | | ||
PN | | | |||
| |
CUSIP No. 366505105 | Schedule 13D | Page 8 of 12 |
1 | NAMES OF REPORTING PERSONS | | | ||
CSCP III Cayman GP Ltd. | | | |||
| | ||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) | ☐ | ||
(b) | ☒ | ||||
| | ||||
3 | SEC USE ONLY | | | ||
| | | |||
| | ||||
4 | SOURCE OF FUNDS (SEE INSTRUCTIONS) | | | ||
OO | | | |||
| | ||||
5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E) | | ☐ | ||
| | ||||
| | ||||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION | | | ||
Cayman Islands | | | |||
| | ||||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER | | | |
None | | | |||
| | ||||
8 | SHARED VOTING POWER | | | ||
28,527,706 | | | |||
| | ||||
9 | SOLE DISPOSITIVE POWER | | | ||
None | | | |||
| | ||||
10 | SHARED DISPOSITIVE POWER | | | ||
28,527,706 | | | |||
| | ||||
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | | | ||
28,527,706 | | | |||
| | ||||
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) | | ☐ | ||
| | ||||
| | ||||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | | | ||
11.77% | | | |||
| | ||||
14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) | | | ||
OO | | | |||
| |
CUSIP No. 366505105 | Schedule 13D | Page 9 of 12 |
1 | NAMES OF REPORTING PERSONS | | | ||
Jeffrey H. Aronson | | | |||
| | ||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) | ☐ | ||
(b) | ☒ | ||||
| | ||||
3 | SEC USE ONLY | | | ||
| | | |||
| | ||||
4 | SOURCE OF FUNDS (SEE INSTRUCTIONS) | | | ||
OO | | | |||
| | ||||
5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E) | | ☐ | ||
| | ||||
| | ||||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION | | | ||
United States | | | |||
| | ||||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER | | | |
None | | | |||
| | ||||
8 | SHARED VOTING POWER | | | ||
39,815,490 | | | |||
| | ||||
9 | SOLE DISPOSITIVE POWER | | | ||
None | | | |||
| | ||||
10 | SHARED DISPOSITIVE POWER | | | ||
39,815,490 | | | |||
| | ||||
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | | | ||
39,815,490 | | | |||
| | ||||
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) | | ☐ | ||
| | ||||
| | ||||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | | | ||
16.42% | | | |||
| | ||||
14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) | | | ||
IN | | | |||
| |
Page 10 of 12
This amendment (this “Amendment No. 4”) amends the Schedule 13D filed by the Reporting Persons on May 13, 2021 (the “Original Schedule 13D”, as amended by that certain Amendment No. 1 filed by the Reporting Persons on April 14, 2023, the “Schedule 13D Amendment No. 1”, as further amended by that certain Amendment No. 2 filed by the Reporting Persons on June 7, 2023, the “Schedule 13D Amendment No. 2”, as further amended by that certain Amendment No. 3 filed by the Reporting Persons on June 14, 2023, the “Schedule 13D Amendment No. 3, and, as further amended by this Amendment No. 4, the “Schedule 13D”). Capitalized terms used herein but not defined herein shall have the respective meanings defined in the Original Schedule 13D, the Schedule 13D Amendment No. 1, the Schedule 13D
Amendment No. 2, or the Schedule 13D Amendment No. 3, as applicable. The Schedule 13D is amended hereby only as specifically set forth herein, provided that with respect to any Item amended herein, if such Item is
incorporated by reference into any other Item in the Schedule 13D as previously amended, such incorporation by reference is also amended hereby.
Item 5. Interest in Securities of the Issuer.
Item 5 is hereby amended and restated to read as follows:
(a) and (b).
The information required by Items 5(a) – (b) is set forth in rows 7 – 13 of the cover page for each of the Reporting
Persons and is incorporated herein by reference.
(c).
Between December 11 and December 13, 2023, the Reporting Persons sold shares of Common Stock as set forth in the table
below.
Transaction Date | Seller | Shares Sold | Price Per Share | Type of Transaction |
December 11, 2023 | Credit Partners Master | 120,639 | $8.2411 | Open Market (Nasdaq) |
December 11, 2023 | SC III-Flex | 579,361 | $8.2411 | Open Market (Nasdaq) |
December 12, 2023 | Credit Partners Master | 137,873 | $8.3716 | Open Market (Nasdaq) |
December 12, 2023 | SC III-Flex | 662,127 | $8.3716 | Open Market (Nasdaq) |
December 13, 2023 | Credit Partners Master | 172,341 | $8.2850 | Open Market (Nasdaq) |
December 13, 2023 | Credit Partners Master | 2,525 | $8.3103 | Open Market (Nasdaq) |
December 13, 2023 | SC III-Flex | 827,659 | $8.2850 | Open Market (Nasdaq) |
December 13, 2023 | SC III-Flex | 12,126 | $8.3103 | Open Market (Nasdaq) |
Page 11 of 12
SIGNATURES
After reasonable inquiry and to the best of his or its knowledge and belief, each of the undersigned certifies that the information set forth in this
statement is true, complete and correct.
DATED: December 14, 2023
| CENTERBRIDGE CREDIT PARTNERS MASTER, L.P. | ||
| | | |
| By: | Centerbridge Credit Partners Offshore General Partner, L.P., its general partner | |
| By: | Centerbridge Credit Cayman GP, Ltd., its general partner | |
| By: | Centerbridge Credit GP Investors, L.L.C., its director | |
| | | |
| /s/ Susanne V. Clark | ||
| Name: Susanne V. Clark Title: Authorized Signatory | ||
| | | |
| | | |
| CENTERBRIDGE CREDIT PARTNERS OFFSHORE GENERAL PARTNER, L.P. | ||
By: | Centerbridge Credit Cayman GP, Ltd., its general partner | ||
By: | Centerbridge Credit GP Investors, L.L.C., its director | ||
/s/ Susanne V. Clark | |||
Name: Susanne V. Clark Title: Authorized Signatory | |||
CENTERBRIDGE CREDIT CAYMAN GP, LTD. | |||
By: | Centerbridge Credit GP Investors, L.L.C., its director | ||
/s/ Susanne V. Clark | |||
Name: Susanne V. Clark Title: Authorized Signatory | |||
CENTERBRIDGE CREDIT GP INVESTORS, L.L.C. | |||
/s/ Susanne V. Clark | |||
Name: Susanne V. Clark Title: Authorized Signatory |
Page 12 of 12
| CENTERBRIDGE SPECIAL CREDIT PARTNERS III-FLEX, L.P. | ||
| | | |
| By: | Centerbridge Special Credit Partners General Partner III, L.P., its general partner | |
| By: | CSCP III Cayman GP Ltd., its general partner | |
| | | |
| /s/ Susanne V. Clark | ||
| Name: Susanne V. Clark Title: Authorized Signatory | ||
| | | |
| | | |
| CENTERBRIDGE SPECIAL CREDIT PARTNERS GENERAL PARTNER III, L.P. | ||
By: | CSCP III Cayman GP Ltd., its general partner | ||
/s/ Susanne V. Clark | |||
Name: Susanne V. Clark Title: Authorized Signatory | |||
CSCP III CAYMAN GP LTD. | |||
/s/ Susanne V. Clark | |||
Name: Susanne V. Clark Title: Authorized Signatory | |||
JEFFREY H. ARONSON | |||
/s/ Jeffrey H. Aronson |