Form 4: Cyrus Capital Partners Reduces Stake in Garrett Motion Inc.

Cyrus Capital Partners sold 500,000 shares of Garrett Motion Inc. between March 1 and March 5, 2024, reducing its holdings.

Summary

• Cyrus Capital Partners, along with related entities and Stephen C. Freidheim, reported a change in beneficial ownership of Garrett Motion Inc. (GTX) shares.
• On March 1, 2024, 300,000 shares of common stock were sold at a weighted average price of $9.7343 per share.
• On March 5, 2024, an additional 200,000 shares were sold at a price of $9.8 per share.
• Following these transactions, the total number of shares beneficially owned by the Reporting Persons is 28,827,284.
• The shares are indirectly held through various private investment funds managed by Cyrus Capital Partners.

Sentiment

Score: 5

Explanation: Neutral sentiment as it simply reports a transaction. The impact on the stock price depends on market perception of the reasons behind the sale.

Negatives

• Cyrus Capital Partners reduced its stake in Garrett Motion Inc., which could be perceived negatively by the market.

Risks

• Continued selling pressure from Cyrus Capital Partners could negatively impact the share price of Garrett Motion Inc.

Industry Context

This filing reflects activity by a major shareholder, which is a common occurrence. The market will interpret the sale in the context of Garrett Motion's performance and outlook.

Stakeholder Impact

• Shareholders may react to the news of Cyrus Capital Partners reducing its stake.
• The impact on employees, customers, suppliers, and creditors is likely to be minimal unless the selling continues and significantly impacts the company's stock price and stability.

Key Dates