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* JS Capital Management LLC (Last) (First) (Middle) 888 SEVENTH AVENUE 40TH FLOOR (Street) NEW YORK NY 10106 (City) (State) (Zip)	2. Date of Event Requiring Statement (Month/Day/Year) 06/03/2019	3. Issuer Name and Ticker or Trading Symbol Ranpak Holdings Corp. [ PACK ]
		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)
Class A Common Stock	24,588,251(2)	I	See footnote(1)

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)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Warrants	(3)	(3)	Class A Common	3,514,894	$11.5	I	See footnote(1)

1. Name and Address of Reporting Person* JS Capital Management LLC (Last) (First) (Middle) 888 SEVENTH AVENUE 40TH FLOOR (Street) NEW YORK NY 10106 (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* SOROS JONATHAN T ALLAN (Last) (First) (Middle) C/O JS CAPITAL MANAGEMENT LLC 888 SEVENTH AVENUE, FLOOR 40 (Street) NEW YORK NY 10106 (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. All of the securities reported herein are held for the account of JS Capital LLC, a Delaware limited liability company ("JSC"). JS Capital Management LLC ("JSCM") is the sole managing member of JSC. Jonathan Soros is the sole managing member of JSCM.

2. Includes 2,636,170 shares of Class A common stock that are subject to forfeiture if certain earnout targets are not met.

3. The warrants become exercisable 30 days after the closing of the previously announced business combination between the Issuer (previously known as One Madison Corporation), Rack Holdings, Inc. and Ranpak Corp., which occurred on June 3, 2019 (the "Closing"). The warrants will terminate at 5:00 p.m. New York City time on the date that is five years after the Closing.

Remarks:

The filing of this form shall not be deemed an admission that either of the Reporting Persons is the beneficial owner of any securities not held directly for its account for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or otherwise.

	/s/ Richard Holahan, Vice President, JSCM	06/05/2019
	/s/ Jonathan Soros	06/05/2019
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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