Cyrus Capital Partners, L.P. - May 11, 2021 Form 4 Insider Report for Garrett Motion Inc. (GTX)

Role
10%+ Owner
Signature
STEPHEN C. FREIDHEIM By: /s/ Stephen C. Freidheim
Stock symbol
GTX
Transactions as of
May 11, 2021
Transactions value $
$3,486,268
Form type
4
Date filed
5/11/2021, 09:10 PM
Previous filing
May 18, 2021
Next filing
Aug 27, 2021

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction GTX Series A Preferred Stock Purchase $3.49M +664K +2.89% $5.25 23.6M May 11, 2021 Common Stock 664K See Footnote F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents the amount of Common Stock initially issuable upon conversion of the Series A Preferred Stock on the date of event requiring this report. Shares of Series A Preferred Stock are convertible, at the holder's election, at the conversion rate (as defined in the Company's certificate of designation of Series A Preferred Stock), which initially is 1:1. The shares of Series A Preferred Stock have no expiration date.
F2 These securities of Garrett Motion Inc. (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, (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").
F3 (Continued from footnote 2) Each of the Reporting Persons disclaims beneficial ownership of any securities reported by any person except to the extent of their pecuniary interest therein.

Remarks:

The Reporting Persons are jointly filing this Form 4.