FORM 3
        
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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

1. Name and Address of Reporting Person *

Beach Point Advisors LLC		 2. Date of Event Requiring Statement (MM/DD/YYYY)
3/25/2022 

 3. Issuer Name and Ticker or Trading Symbol

Terran Orbital Corp [LLAP]
(Last)        (First)        (Middle)

C/O BEACH POINT CAPITAL MANAGEMENT LP, 1620 26TH STREET, STE. 6000N		 4. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                          ___X___ 10% Owner
_____ Officer (give title below)        _____ Other (specify below)
(Street)

SANTA MONICA, CA 90404      

(City)              (State)              (Zip)
5. If Amendment, Date Original Filed(MM/DD/YYYY)
 

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 1390784 (1)(2)(3)I See FN 2. 
Common stock 1121725 (1)(2)(4)I See FN 2. 
Common stock 2273763 (1)(2)(5)I See FN 2. 
Common stock 11622718 (1)(2)(6)I See FN 2. 
Common stock 3296956 (1)(2)(7)I See FN 2. 
Common stock 1515842 (1)(2)(8)I See FN 2. 
Common stock 1515842 (1)(2)(9)I See FN 2. 

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 4)		2. Date Exercisable and Expiration Date
(MM/DD/YYYY)		3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)		4. Conversion or Exercise Price of Derivative Security5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)		6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date ExercisableExpiration DateTitleAmount or Number of Shares
Warrants to purchase common stock 3/25/2022 3/25/2027 Common stock 84530 (1)(2)(3)$10.00 I See FN 2. 
Warrants to purchase common stock 3/25/2022 3/25/2027 Common stock 68176 (1)(2)(4)$10.00 I See FN 2. 
Warrants to purchase common stock 3/25/2022 3/25/2027 Common stock 138195 (1)(2)(5)$10.00 I See FN 2. 
Warrants to purchase common stock 3/25/2022 3/25/2027 Common stock 706407 (1)(2)(6)$10.00 I See FN 2. 
Warrants to purchase common stock 3/25/2022 3/25/2027 Common stock 200383 (1)(2)(7)$10.00 I See FN 2. 
Warrants to purchase common stock 3/25/2022 3/25/2027 Common stock 92130 (1)(2)(8)$10.00 I See FN 2. 
Warrants to purchase common stock 3/25/2022 3/25/2027 Common stock 92130 (1)(2)(9)$10.00 I See FN 2. 
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.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director10% OwnerOfficerOther
Beach Point Advisors LLC
C/O BEACH POINT CAPITAL MANAGEMENT LP
1620 26TH STREET, STE. 6000N
SANTA MONICA, CA 90404
X

Klein Scott Martin
1620 26TH STREET
SUITE 6000N
SANTA MONICA, CA 90404
X

GOLDSMITH CARL H
C/O BEACH POINT CAPITAL MANAGEMENT LP
1620 26TH STREET, SUITE 6000N
SANTA MONICA, CA 90404
X
Signatures
Beach Point Advisors LLC /s/ Lawrence M. Goldman By: Lawrence M. Goldman Authorized Signatory4/8/2022
**Signature of Reporting PersonDate

/s/ Scott Klein By: Scott Klein4/8/2022
**Signature of Reporting PersonDate

/s/ Carl Goldsmith By: Carl Goldsmith4/8/2022
**Signature of Reporting PersonDate
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).
Note:File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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