4//SEC Filing
IngleSea Capital, LLC 4
Accession 0000899243-21-017870
CIK 0001735707other
Filed
May 2, 8:00 PM ET
Accepted
May 3, 8:01 PM ET
Size
7.1 KB
Accession
0000899243-21-017870
Insider Transaction Report
Form 4
Transactions
- Other
Common Stock
2021-04-30$6.25/sh−300,000$1,875,000→ 0 total(indirect: See Footnote)
Footnotes (3)
- [F1]On September 20, 2020, Garrett Motion Inc. (the "Issuer") and certain of its subsidiaries (collectively, the "Debtors") each filed a voluntary petition for relief under chapter 11 of title 11 of the United States Code (the "Bankruptcy Code") in the United States Bankruptcy Court for the Southern District of New York (the "Bankruptcy Court"). On April 26, 2021, the Debtors filed an amended Chapter 11 plan of reorganization (the "Plan") and on April 9, 2021, the Issuer filed a supplement to the Plan (as amended on April 20, 2021 and April 22, 2021, the "Plan Supplement") with the Bankruptcy Court. On April 26, 2021, the Bankruptcy Court entered an order confirming the Plan (the "Confirmation Order") and, on April 30, 2021 (the "Effective Date") the conditions to effectiveness of the Plan were satisfied or waived and the Issuer emerged from bankruptcy.
- [F2](Continued from footnote 1) On the Effective Date, all outstanding shares of the Issuer's common stock outstanding prior to the Effective Date were canceled, released, and extinguished, and of no further force or effect and without any need for a holder of such common stock to take further action with respect thereto. The Reporting Person exercised its right under the Plan's cash-out option to receive an amount equal to $6.25 per share of common stock in full and final satisfaction of its cancelled shares. Accordingly, this Form 4 shall constitute an exit filing for the Reporting Person with respect to the Issuer.
- [F3]These securities of the Issuer are indirectly beneficially owned by IngleSea Capital, LLC (the "Reporting Person"), as the investment advisor to Zoe Partners LP.
Documents
Issuer
Garrett Motion Inc.
CIK 0001735707
Entity typeother
IncorporatedFL
Related Parties
1- filerCIK 0001830416
Filing Metadata
- Form type
- 4
- Filed
- May 2, 8:00 PM ET
- Accepted
- May 3, 8:01 PM ET
- Size
- 7.1 KB