Garrett Motion Inc. Enters Material Definitive Agreement

Ticker: GTX · Form: 8-K · Filed: 2024-05-21T00:00:00.000Z

Sentiment: neutral

Topics: material-definitive-agreement, financial-obligation

TL;DR

Garrett Motion signed a big deal, could affect financials.

AI Summary

On May 21, 2024, Garrett Motion Inc. entered into a material definitive agreement related to financial obligations. The company, formerly known as Garrett Transportation Systems Inc., is incorporated in Delaware and headquartered in Rolle, Switzerland.

Why It Matters

This filing indicates a significant financial transaction or commitment by Garrett Motion Inc., which could impact its financial standing and future operations.

Risk Assessment

Risk Level: medium — Material definitive agreements can introduce new financial obligations or strategic shifts that carry inherent risks.

Key Players & Entities

FAQ

What type of material definitive agreement did Garrett Motion Inc. enter into?

The filing states that Garrett Motion Inc. entered into a material definitive agreement related to the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement.

When was this agreement reported?

The agreement was reported on May 21, 2024.

What is Garrett Motion Inc.'s principal executive office address?

The principal executive offices are located at La Pièce 16, Rolle, Switzerland, 1180.

What was Garrett Motion Inc.'s former company name?

The former company name was Garrett Transportation Systems Inc.

In which jurisdiction is Garrett Motion Inc. incorporated?

Garrett Motion Inc. is incorporated in Delaware.

From the Filing

0000950142-24-001390.txt : 20240521 0000950142-24-001390.hdr.sgml : 20240521 20240521172311 ACCESSION NUMBER: 0000950142-24-001390 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 16 CONFORMED PERIOD OF REPORT: 20240521 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240521 DATE AS OF CHANGE: 20240521 FILER: 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: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-38636 FILM NUMBER: 24970809 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 8-K 1 eh240484338_8k.htm FORM 8-K FORM 8-K false 0001735707 0001735707 2024-05-21 2024-05-21 iso4217:USD xbrli:shares iso4217:USD xbrli:shares     UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM  8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported):  May 21, 2024 GARRETT MOTION INC. (Exact name of Registrant as specified in its charter) Delaware 1-38636 82-4873189 (State or other jurisdiction of incorporation) (Commission File Number) (I.R.S. Employer Identification Number)   La Pièce 16 Rolle , Switzerland 1180 (Address of Principal Executive Offices) (Zip Code) + 41 21 695 30 00 (Registrant’s telephone number, including area code)   Not Applicable (Former Name or Former Address, if Changed Since Last Report)   Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions:   ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:   Title of each class   Trading Symbol(s)   Name of each exchange on which registered Common Stock, $0.001 par value per share   GTX   The Nasdaq Stock Market LLC   Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).   Emerging growth company  ☐ If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐             Item 1.01 Entry into a Material Definitive Agreement General On May 21, 2024, Garrett Motion Inc. (the “ Company ”) announced today the completion of the previously announced offering by Garrett Motion Holdings Inc. (“ GMHI ”) and Garrett LX I S.à r.l. (“ Garrett LX I ” and, together with GMHI, the “ Issuers ”), the Company’s wholly owned subsidiaries, of $800.0 million in aggregate principal amount of 7.750% Senior Notes due

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