Sec Form 3 Filing - Beach Point Advisors LLC @ Terran Orbital Corp - 2022-03-25

FORM 3 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 Advisors LLC 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) C/O BEACH POINT CAPITAL MANAGEMENT LP, 1620 26TH STREET, STE. 6000N 3. Date of Earliest Transaction (MM/DD/YY) 03/25/2022 (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 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 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 Warrants to purchase common stock $ 10 03/25/2022 03/25/2027 Common stock 84,530( 1 )( 2 )( 3 ) I See FN 2. Warrants to purchase common stock $ 10 03/25/2022 03/25/2027 Common stock 68,176( 1 )( 2 )( 4 ) I See FN 2. Warrants to purchase common stock $ 10 03/25/2022 03/25/2027 Common stock 138,195( 1 )( 2 )( 5 ) I See FN 2. Warrants to purchase common stock $ 10 03/25/2022 03/25/2027 Common stock 706,407( 1 )( 2 )( 6 ) I See FN 2. Warrants to purchase common stock $ 10 03/25/2022 03/25/2027 Common stock 200,383( 1 )( 2 )( 7 ) I See FN 2. Warrants to purchase common stock $ 10 03/25/2022 03/25/2027 Common stock 92,130( 1 )( 2 )( 8 ) I See FN 2. Warrants to purchase common stock $ 10 03/25/2022 03/25/2027 Common stock 92,130( 1 )( 2 )( 9 ) I See FN 2.

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other Beach Point Advisors LLC C/O BEACH POINT CAPITAL MANAGEMENT LP 1620 26TH STREET, STE. 6000N SANTA MONICA, CA90404 X Klein Scott Martin 1620 26TH STREET SUITE 6000N SANTA MONICA, CA90404 X GOLDSMITH CARL H C/O BEACH POINT CAPITAL MANAGEMENT LP 1620 26TH STREET, SUITE 6000N SANTA MONICA, CA90404 X Signatures Beach Point Advisors LLC /s/ Lawrence M. Goldman By: Lawrence M. Goldman Authorized Signatory 04/08/2022 Signature of Reporting Person Date /s/ Scott Klein By: Scott Klein 04/08/2022 Signature of Reporting Person Date /s/ Carl Goldsmith By: Carl Goldsmith 04/08/2022 Signature of Reporting Person Date

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.

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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