Initial Statement of Beneficial Ownership (3)
May 07 2021 - 4:15PM
Edgar (US Regulatory)
FORM 3
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
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OMB APPROVAL
OMB Number:
3235-0104
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
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BAUPOST GROUP LLC/MA |
2. Date of Event Requiring Statement (MM/DD/YYYY)
4/30/2021
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3. Issuer Name and Ticker or Trading Symbol
Garrett Motion Inc. [GTX]
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(Last)
(First)
(Middle)
10 ST. JAMES AVE, SUITE 1700 |
4. Relationship of Reporting Person(s) to Issuer (Check all applicable)
_____ Director ___X___ 10% Owner _____ Officer (give title below) _____ Other (specify below)
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(Street)
BOSTON, MA 02116
(City)
(State)
(Zip)
| 5. If Amendment, Date Original Filed(MM/DD/YYYY)
| 6. Individual or Joint/Group Filing(Check Applicable Line)
___ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person
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Table I - Non-Derivative Securities Beneficially Owned
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1.Title of Security (Instr. 4) | 2. Amount of Securities Beneficially Owned (Instr. 4) | 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 4. Nature of Indirect Beneficial Ownership (Instr. 5) |
Common Stock | 3575000 | I | See Footnotes (1)(2) |
Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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1. Title of Derivate Security (Instr. 4) | 2. Date Exercisable and Expiration Date (MM/DD/YYYY) | 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) | 4. Conversion or Exercise Price of Derivative Security | 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5) | 6. Nature of Indirect Beneficial Ownership (Instr. 5) |
Date Exercisable | Expiration Date | Title | Amount or Number of Shares |
Series A Preferred Stock | (3) | (3) | Common Stock, par value $0.001 per share | 28451017 (4) | (3) | I | See Footnotes (1)(2) |
Explanation of Responses: |
(1) | This statement on Form 3 is being jointly filed by The Baupost Group, L.L.C. ("Baupost"), Baupost Group GP, L.L.C. ("Baupost GP") and Seth A. Klarman ("Mr. Klarman") (collectively, the "Reporting Persons"). Baupost is a registered investment adviser. The principal business of Baupost is to act as an investment adviser to various private investment limited partnerships. Baupost GP, as the manager of Baupost, and Mr. Klarman, as the sole managing member of Baupost GP and a controlling person of Baupost, may be deemed to have beneficial ownership under Section 13 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), of the securities beneficially owned by Baupost. Securities reported on this Form 3 as being beneficially owned by Baupost were purchased on behalf of certain of such partnerships. |
(2) | (Continued from footnote 1) The Reporting Persons disclaim beneficial ownership of the securities indicated except to the extent of their pecuniary interest therein, and the reporting herein of such securities shall not be construed as an admission that the Reporting Persons are the beneficial owners thereof for purposes of Section 16 of the Exchange Act or for any other purpose. |
(3) | Shares of Series A Preferred Stock of Garrett Motion Inc. (the "Company") are convertible, at the holder's election, at the conversion rate (as defined in the Company's certificate of designation of Series A Convertible Preferred Stock), which initially is 1:1. The shares of Series A Preferred Stock have no expiration date. |
(4) | Represents the amount of Common Stock initially issuable upon conversion of the Series A Preferred Stock on the date of the event requiring this report. |
Reporting Owners
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Reporting Owner Name / Address | Relationships |
Director | 10% Owner | Officer | Other |
BAUPOST GROUP LLC/MA 10 ST. JAMES AVE SUITE 1700 BOSTON, MA 02116 |
| X |
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Baupost Group GP, L.L.C. 10 ST. JAMES AVE SUITE 1700 BOSTON, MA 02116 |
| X |
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KLARMAN SETH A 10 ST. JAMES AVE SUITE 1700 BOSTON, MA 02116 |
| X |
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Signatures
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Seth A. Klarman | | 5/7/2021 |
**Signature of Reporting Person | Date |
Seth A. Klarman | | 5/7/2021 |
**Signature of Reporting Person | Date |
Seth A. Klarman | | 5/7/2021 |
**Signature of Reporting Person | Date |
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