Statement of Changes in Beneficial Ownership (4)

FORM 4 [ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response... 0.5
	Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

1. Name and Address of Reporting Person ^* Beach Point Capital Management LP	2. Issuer Name and Ticker or Trading Symbol Terran Orbital Corp [ LLAP ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director __X__ 10% Owner _____ Officer (give title below) _____ Other (specify below)
(Last) (First) (Middle) 1620 26TH STREET, SUITE 6000N	3. Date of Earliest Transaction (MM/DD/YYYY) 2/22/2023
(Street) SANTA MONICA, CA 90404 (City) (State) (Zip)	4. 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

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security (Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	3. Trans. Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1.Title of Security (Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	2/22/2023		S		2377214	D	$3.03	7357496	I	By: BPC Opportunities Fund III LP
Common Stock	2/22/2023		S		674332	D	$3.03	2087064	I	By: Beach Point Select Fund LP
Common Stock	2/22/2023		S		310037	D	$3.03	959569	I	By: Beach Point Securitized Credit Fund LP
Common Stock	2/22/2023		S		284460	D	$3.03	880404	I	By: Beach Point SCF XI LP

*Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)*
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	4. Trans. Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)			11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

Remarks:
Form 1 of 2

(1) The reported securities are owned by Beach Point SCF XI LP (SCF XI), Beach Point SCF IV LLC (SCF IV), Beach Point SCF Multi-Port LP (SCF Multi), BPC Opportunities Fund III LP (Opportunities), Beach Point Select Fund LP (Select), Beach Point Securitized Credit Fund LP (Securitized) and Beach Point TX SCF LP (TX and collectively with SCF XI, SCF IV, SCF Multi, Opportunities, Select and Securitized, the Funds). The Funds may be deemed a (group) for purposes of Section 13(d) of the Exchange Act. (2) Beach Point Capital Management LP is the investment manager of each of the Funds (Investment Manager) and Beach Point GP LLC (Beach Point GP) is the general partner of the Investment Manager. In such capacities, Investment Manager and Beach Point GP may be deemed to share voting and dispositive power over the reported securities held by the Funds. Investment Manager and Beach Point GP each disclaims beneficial ownership of the reported securities, and this report shall not be deemed an admission that either is the beneficial owner of the reported securities, except to the extent of pecuniary interest, if any, therein. (3) Beach Point Advisors LLC, a Delaware limited liability company (Fund GP), is the General Partner or Managing Member of each of the Funds and Scott Klein and Carl Goldsmith are the members of the Fund GP and may be deemed to beneficially own the securities held by the Funds. Notwithstanding the foregoing, the Fund GP, Mr. Klein and Mr. Goldsmith each disclaims beneficial ownership of the reported securities and this report shall not be deemed an admission that any of the foregoing is the beneficial owner of the reported securities except to the extent of its or his respective pecuniary interest, if any, therein.

Reporting Owners
Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
Beach Point Capital Management LP 1620 26TH STREET SUITE 6000N SANTA MONICA, CA 90404		X
Beach Point GP LLC 1620 26TH STREET SUITE 6000N SANTA MONICA, CA 90404		X
Beach Point Advisors LLC 1620 26TH STREET SUITE 6000N SANTA MONICA, CA 90404		X
Klein Scott Martin 1620 26TH STREET SUITE 6000N SANTA MONICA, CA 90404		X
GOLDSMITH CARL H 1620 26TH STREET SUITE 6000N SANTA MONICA, CA 90404		X
BPC OPPORTUNITIES FUND III LP 1620 26TH STREET SUITE 6000N SANTA MONICA, CA 90404		X
Beach Point Select Fund LP 1620 26TH STREET SUITE 6000N SANTA MONICA, CA 90404		X
Beach Point Securitized Credit Fund LP 1620 26TH STREET SUITE 6000N SANTA MONICA, CA 90404		X
Beach Point SCF XI LP 1620 26TH STREET SUITE 6000N SANTA MONICA, CA 90404		X

Signatures
Beach Point Capital Management LP /s/Lawrence M. Goldman By: Lawrence M. Goldman Chief Administrative Officer and General Counsel		2/22/2023
^**Signature of Reporting Person		Date
Beach Point GP LLC /s/Lawrence M. Goldman By: Lawrence M. Goldman Authorized Signatory		2/22/2023
^**Signature of Reporting Person		Date
Beach Point Advisors LLC /s/Lawrence M. Goldman By: Lawrence M. Goldman Authorized Signatory		2/22/2023
^**Signature of Reporting Person		Date
/s/ Carl Goldsmith By: Carl Goldsmith		2/22/2023
^**Signature of Reporting Person		Date
Beach Point Select Fund LP By: Beach Point Capital Management LP, its Investment Manager /s/Lawrence M. Goldman By: Lawrence M. Goldman Chief Administrative Officer and General Counsel		2/22/2023
^**Signature of Reporting Person		Date
Beach Point Securitized Credit Fund LP By: Beach Point Capital Management LP, its Investment Manager /s/Lawrence M. Goldman By: Lawrence M. Goldman Chief Administrative Officer and General Counsel		2/22/2023
^**Signature of Reporting Person		Date
Beach Point SCF XI LP By: Beach Point Capital Management LP, its Investment Manager /s/Lawrence M. Goldman By: Lawrence M. Goldman Chief Administrative Officer and General Counsel		2/22/2023
^**Signature of Reporting Person		Date
BPC Opportunities Fund III LP By: Beach Point Capital Management LP, its Investment Manager /s/Lawrence M. Goldman By: Lawrence M. Goldman Chief Administrative Officer and General Counse		2/22/2023
^**Signature of Reporting Person		Date
/s/Scott Klein By: Scott Klein		2/22/2023
^**Signature of Reporting Person		Date

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note:	File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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