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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	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

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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

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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

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.
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.
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.
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").
(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.