SEC FORM 3

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Beach Point Advisors LLC

(Last)

(First)

(Middle)

C/O BEACH POINT CAPITAL MANAGEMENT LP

1620 26TH STREET, STE. 6000N

(Street)

SANTA MONICA

90404

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
03/25/2022

3. Issuer Name and Ticker or Trading Symbol
Terran Orbital Corp [ LLAP ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

Director	X	10% Owner
Officer (give title below)		Other (specify below)

5. If Amendment, Date of Original Filed (Month/Day/Year)

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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common stock	1,390,784⁽¹⁾⁽²⁾⁽³⁾	I	See FN 2.
Common stock	1,121,725⁽¹⁾⁽²⁾⁽⁴⁾	I	See FN 2.
Common stock	2,273,763⁽¹⁾⁽²⁾⁽⁵⁾	I	See FN 2.
Common stock	11,622,718⁽¹⁾⁽²⁾⁽⁶⁾	I	See FN 2.
Common stock	3,296,956⁽¹⁾⁽²⁾⁽⁷⁾	I	See FN 2.
Common stock	1,515,842⁽¹⁾⁽²⁾⁽⁸⁾	I	See FN 2.
Common stock	1,515,842⁽¹⁾⁽²⁾⁽⁹⁾	I	See FN 2.

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Warrants to purchase common stock	03/25/2022	03/25/2027	Common stock	84,530⁽¹⁾⁽²⁾⁽³⁾	$10	I	See FN 2.
Warrants to purchase common stock	03/25/2022	03/25/2027	Common stock	68,176⁽¹⁾⁽²⁾⁽⁴⁾	$10	I	See FN 2.
Warrants to purchase common stock	03/25/2022	03/25/2027	Common stock	138,195⁽¹⁾⁽²⁾⁽⁵⁾	$10	I	See FN 2.
Warrants to purchase common stock	03/25/2022	03/25/2027	Common stock	706,407⁽¹⁾⁽²⁾⁽⁶⁾	$10	I	See FN 2.
Warrants to purchase common stock	03/25/2022	03/25/2027	Common stock	200,383⁽¹⁾⁽²⁾⁽⁷⁾	$10	I	See FN 2.
Warrants to purchase common stock	03/25/2022	03/25/2027	Common stock	92,130⁽¹⁾⁽²⁾⁽⁸⁾	$10	I	See FN 2.
Warrants to purchase common stock	03/25/2022	03/25/2027	Common stock	92,130⁽¹⁾⁽²⁾⁽⁹⁾	$10	I	See FN 2.

1. Name and Address of Reporting Person^*

Beach Point Advisors LLC

(Last)

(First)

(Middle)

C/O BEACH POINT CAPITAL MANAGEMENT LP

1620 26TH STREET, STE. 6000N

(Street)

SANTA MONICA

90404

(City)

(State)

(Zip)

Relationship of Reporting Person(s) to Issuer

Director	X	10% Owner
Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Klein Scott Martin

(Last)

(First)

(Middle)

1620 26TH STREET

SUITE 6000N

(Street)

SANTA MONICA

90404

(City)

(State)

(Zip)

Relationship of Reporting Person(s) to Issuer

Director	X	10% Owner
Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

GOLDSMITH CARL H

(Last)

(First)

(Middle)

C/O BEACH POINT CAPITAL MANAGEMENT LP

1620 26TH STREET, SUITE 6000N

(Street)

SANTA MONICA

90404

(City)

(State)

(Zip)

Relationship of Reporting Person(s) to Issuer

Director	X	10% Owner
Officer (give title below)		Other (specify below)

Explanation of Responses:

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, 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 Advisors LLC ("Fund GP") is the General Partner or Managing Member of the Funds. 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 securities held by the Funds, as filed with the Securities and Exchange Commission in a Form 3 on March 30, 2022 (and amended April 7, 2022), except to the extent of its or his respective pecuniary interest therein.

3. The reported securities are owned by SCF XI.

4. The reported securities are owned by SCF IV.

5. The reported securities are owned by Multi.

6. The reported securities are owned by Opportunities.

7. The reported securities are owned by Select.

8. The reported securities are owned by Securitized.

9. The reported securities are owned by TX.

	Beach Point Advisors LLC /s/ Lawrence M. Goldman By: Lawrence M. Goldman Authorized Signatory	04/08/2022
	/s/ Scott Klein By: Scott Klein	04/08/2022
	/s/ Carl Goldsmith By: Carl Goldsmith	04/08/2022
	** 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 5 (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).
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