Form 4: Cyrus Capital Partners Sells Garrett Motion Inc. Shares
SEC Form 4
Cyrus Capital Partners, a significant shareholder of Garrett Motion Inc., has sold a portion of its common stock holdings in multiple transactions.
Summary
- Cyrus Capital Partners, L.P., along with Cyrus Capital Partners GP, LLC, and Stephen C. Freidheim, have reported the sale of Garrett Motion Inc. common stock.
- On March 22, 2024, they sold 260,000 shares at a weighted average price of $9.8724, with prices ranging from $9.8264 to $9.93.
- On March 25, 2024, they sold an additional 200,000 shares at a weighted average price of $10.025, with prices ranging from $10.00 to $10.05.
- Following these transactions, Cyrus Capital Partners beneficially owns 28,267,284 shares of Garrett Motion Inc. common stock through various private investment funds.
Sentiment
Score: 5
Explanation: Neutral sentiment as it simply reports a sale of shares. The impact on the company is uncertain without further context.
Industry Context
This filing indicates a change in ownership stake by a major shareholder, which is a common occurrence in the financial markets. The impact on Garrett Motion Inc. will depend on market perception of Cyrus Capital Partners' decision to reduce its holdings.
Stakeholder Impact
- Shareholders may react to the news of a large shareholder selling shares, potentially impacting the stock price.
- The company may need to address any concerns arising from the change in ownership.
Key Dates
| Date | Description |
|---|---|
| 03/22/2024 | Sale of 260,000 shares of Common Stock at a weighted average price of $9.8724 |
| 03/25/2024 | Sale of 200,000 shares of Common Stock at a weighted average price of $10.025 |
| 03/26/2024 | Date of signature for the Form 4 filing |
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