Cyrus Capital Partners Amends Garrett Motion Stake Filing

Ticker: GTX · Form: SC 13D/A · Filed: 2024-03-07T00:00:00.000Z

Sentiment: neutral

Topics: schedule-13d, amendment, ownership-filing

Related Tickers: GTX

TL;DR

CYRUS CAPITAL AMENDS GARRETT MOTION (GTX) 13D FILING - OWNERSHIP UPDATE

AI Summary

Cyrus Capital Partners, L.P. filed an amendment (No. 2) to its Schedule 13D on March 7, 2024, regarding its holdings in Garrett Motion Inc. The filing indicates a change in the beneficial ownership of Garrett Motion Inc. common stock. Cyrus Capital Partners, L.P. is a significant shareholder in the company.

Why It Matters

This filing updates the market on significant changes in beneficial ownership for a major shareholder of Garrett Motion Inc., potentially signaling shifts in investment strategy or influence.

Risk Assessment

Risk Level: medium — Schedule 13D filings often indicate significant investor activity, which can lead to increased stock volatility.

Key Players & Entities

FAQ

What is the specific change in beneficial ownership reported in this amendment?

The filing is an amendment (No. 2) to Schedule 13D, indicating a change in beneficial ownership, but the exact percentage or number of shares changing hands is not detailed in the provided header information.

When was this amendment filed with the SEC?

This amendment was filed on March 7, 2024.

Who is the filing entity making this amendment?

The filing entity is Cyrus Capital Partners, L.P.

What is the subject company of this filing?

The subject company is Garrett Motion Inc.

What is the CUSIP number for the securities involved?

The CUSIP number for Garrett Motion Inc. Common Stock is 366505105.

From the Filing

0000902664-24-002277.txt : 20240307 0000902664-24-002277.hdr.sgml : 20240307 20240307172430 ACCESSION NUMBER: 0000902664-24-002277 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240307 DATE AS OF CHANGE: 20240307 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Garrett Motion Inc. CENTRAL INDEX KEY: 0001735707 STANDARD INDUSTRIAL CLASSIFICATION: MOTOR VEHICLE PARTS & ACCESSORIES [3714] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 824873189 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-90700 FILM NUMBER: 24731360 BUSINESS ADDRESS: STREET 1: LA PIECE 16 CITY: ROLLE STATE: V8 ZIP: 1180 BUSINESS PHONE: 41-21-695-3000 MAIL ADDRESS: STREET 1: LA PIECE 16 CITY: ROLLE STATE: V8 ZIP: 1180 FORMER COMPANY: FORMER CONFORMED NAME: Garrett Transportation Systems Inc. DATE OF NAME CHANGE: 20180327 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: CYRUS CAPITAL PARTNERS, L.P. CENTRAL INDEX KEY: 0001166564 ORGANIZATION NAME: IRS NUMBER: 134119084 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 65 EAST 55 STREET STREET 2: 35TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 BUSINESS PHONE: 212-380-5800 MAIL ADDRESS: STREET 1: 65 EAST 55 STREET STREET 2: 35TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 FORMER COMPANY: FORMER CONFORMED NAME: CYRUS CAPITAL PARTNERS, LP DATE OF NAME CHANGE: 20050215 FORMER COMPANY: FORMER CONFORMED NAME: OZF MANAGEMENT L P DATE OF NAME CHANGE: 20020205 SC 13D/A 1 p24-1154sc13da.htm GARRETT MOTION INC. SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D/A Under the Securities Exchange Act of 1934 (Amendment No. 2)* Garrett Motion Inc. (Name of Issuer) Common Stock, $0.001 par value per share (Title of Class of Securities) 366505105 (CUSIP Number) Jennifer M. Pulick General Counsel Cyrus Capital Partners, L.P. 65 East 55th Street, 35th Floor New York, New York 10022 (212) 380-5800 Adriana Schwartz Schulte Roth & Zabel LLP 919 Third Avenue New York, New York 10022 (212) 756-2000 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) March 5, 2024 (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 Rule 13d-1(e), Rule 13d-1(f) or Rule 13d-1(g), check the following box. ¨ (Page 1 of 8 Pages) ______________________________ * 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). 1 NAME OF REPORTING PERSONS Cyrus Capital Partners, L.P. 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ¨ (b) x 3 SEC USE ONLY 4 SOURCE OF FUNDS OO 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING 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 0 8 SHARED VOTING POWER 28,827,284 9 SOLE DISPOSITIVE POWER 0 10 SHARED DISPOSITIVE POWER 28,827,284 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON 28,827,284 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨ 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) (see Item 5) 12.1% 14 TYPE OF REPORTING PERSON PN, IA 1 NAME OF REPORTING PERSONS Cyrus Capital Partners GP, L.L.C.

View on Read The Filing