Sec Form 4 Filing - Beach Point Capital Management LP @ Terran Orbital Corp - 2023-02-03

Insider filing report for Changes in Beneficial Ownership
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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
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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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/YY)
02/03/2023
(Street)
SANTA MONICA, CA90404
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
_____ Form filed by One Reporting Person
__ X __ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction 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)
Code V Amount (A) or (D) Price
Common Stock 02/03/2023 S 18,467 D $ 2.01 9,738,314 I By: BPC Opportunities Fund III LP
Common Stock 02/03/2023 S 5,238 D $ 2.01 2,762,418 I By: Beach Point Select Fund LP
Common Stock 02/03/2023 S 2,409 D $ 2.01 1,270,076 I By: Beach Point Securitized Credit Fund LP
Common Stock 02/03/2023 S 2,210 D $ 2.01 1,165,295 I By: Beach Point SCF XI LP
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction 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
(MM/DD/YY)
7. Title and Amount of Underlying Securities
(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)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Beach Point Capital Management LP
1620 26TH STREET
SUITE 6000N
SANTA MONICA, CA90404
X
Beach Point GP LLC
1620 26TH STREET
SUITE 6000N
SANTA MONICA, CA90404
X
Beach Point Advisors LLC
1620 26TH STREET
SUITE 6000N
SANTA MONICA, CA90404
X
Klein Scott Martin
1620 26TH STREET
SUITE 6000N
SANTA MONICA, CA90404
X
GOLDSMITH CARL H
1620 26TH STREET
SUITE 6000N
SANTA MONICA, CA90404
X
BPC OPPORTUNITIES FUND III LP
1620 26TH STREET
SUITE 6000N
SANTA MONICA, CA90404
X
Beach Point Select Fund LP
1620 26TH STREET
SUITE 6000N
SANTA MONICA, CA90404
X
Beach Point Securitized Credit Fund LP
1620 26TH STREET
SUITE 6000N
SANTA MONICA, CA90404
X
Beach Point SCF XI LP
1620 26TH STREET
SUITE 6000N
SANTA MONICA, CA90404
X
Signatures
Beach Point Capital Management LP /s/Lawrence M. GoldmanBy: Lawrence M. Goldman Chief Administrative Officer and General Counsel 02/03/2023
Signature of Reporting Person Date
Beach Point GP LLC /s/Lawrence M. GoldmanBy: Lawrence M. Goldman Authorized Signatory 02/03/2023
Signature of Reporting Person Date
Beach Point Advisors LLC /s/Lawrence M. GoldmanBy: Lawrence M. GoldmanAuthorized Signatory 02/03/2023
Signature of Reporting Person Date
/s/ Carl GoldsmithBy: Carl Goldsmith 02/03/2023
Signature of Reporting Person Date
Beach Point Select Fund LP By: Beach Point Capital Management LP, its Investment Manager /s/Lawrence M. GoldmanBy: Lawrence M. Goldman Chief Administrative Officer and General Counsel 02/03/2023
Signature of Reporting Person Date
Beach Point Securitized Credit Fund LP By: Beach Point Capital Management LP, its Investment Manager /s/Lawrence M. GoldmanBy: Lawrence M. Goldman Chief Administrative Officer and General Counsel 02/03/2023
Signature of Reporting Person Date
Beach Point SCF XI LP By: Beach Point Capital Management LP, its Investment Manager /s/Lawrence M. GoldmanBy: Lawrence M. Goldman Chief Administrative Officer and General Counsel 02/03/2023
Signature of Reporting Person Date
BPC Opportunities Fund III LP By: Beach Point Capital Management LP, its Investment Manager /s/Lawrence M. GoldmanBy: Lawrence M. Goldman Chief Administrative Officer and General Counse 02/03/2023
Signature of Reporting Person Date
/s/Scott KleinBy: Scott Klein 02/03/2023
Signature of Reporting Person Date
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.

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).
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