MERC: Kellogg Lifts Stake to 35.1% with 902K Share Buy

Schedule 13D/A (Amendment No. 9) filed for Mercer International Inc. (MERC) discloses that long-time shareholder Peter R. Kellogg now beneficially owns 23,455,000 common shares, or 35.1 % of MERC’s outstanding stock as of 22-Jul-2025.

Rhea-AI Filing Summary

Schedule 13D/A (Amendment No. 9) filed for Mercer International Inc. (MERC) discloses that long-time shareholder Peter R. Kellogg now beneficially owns 23,455,000 common shares, or 35.1 % of MERC’s outstanding stock as of 22-Jul-2025. The filing shows sole voting and dispositive power over the entire stake; no shares are held jointly.

Between 06-Jun-2025 and 10-Jun-2025, entities controlled by Kellogg acquired 142,020 shares on Nasdaq at prices ranging from $3.62–$3.75. On 22-Jul-2025, Kellogg’s spouse purchased an additional 760,000 shares at $3.25. In total, 902,020 shares were added during the period, prompting this amendment.

The filing is informational; it signals continued insider accumulation by the company’s largest shareholder, further consolidating control. No other material changes, financing arrangements, or legal proceedings are reported.

Positive

• Insider accumulation: 902,020 additional shares purchased, indicating holder confidence.
• Large ownership stake: Kellogg now controls 35.1 % of MERC, aligning insider and shareholder interests.

Negative

• Concentrated control risk: A single investor holding over one-third of shares may reduce governance diversity and float liquidity.

Insights

Securities Analyst

TL;DR: Insider added 902k shares, raising stake to 35.1 %; signals confidence and tighter float.

The amendment highlights meaningful insider buying at depressed share prices ($3.25–$3.75). Kellogg now controls over one-third of MERC, giving him significant influence on corporate actions and potential strategic decisions. For investors, concentrated ownership can be a positive governance signal if interests are aligned, but it also reduces public float and could limit takeover premiums. No indication of hostile intent or change-of-control plans is given. On balance, the additional purchases suggest conviction in the issuer’s long-term value and may provide sentiment support.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many Mercer International (MERC) shares does Peter R. Kellogg own after this filing?

He beneficially owns 23,455,000 shares, representing 35.1 % of the outstanding common stock.

What recent share purchases triggered this Schedule 13D amendment?

Entities controlled by Kellogg bought 142,020 shares on 06-10 Jun 2025, and his spouse bought 760,000 shares on 22-Jul-2025.

At what prices were the recent MERC shares acquired?

Purchases ranged from $3.62 to $3.75 in early June and $3.25 on 22 Jul 2025.

Does Kellogg share voting or dispositive power with anyone else?

No. The filing lists sole voting and dispositive power over all 23,455,000 shares.

What percentage of Mercer International does Kellogg control?

He controls 35.1 % of the company’s outstanding common shares.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 07/23/2025 - 08:50 PM EDT Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 9)

Mercer International Inc.

(Name of Issuer)

Common Stock, par value $1.00

(Title of Class of Securities)

588056101

(CUSIP Number)

Peter R. Kellogg
48 Wall Street, 30th Floor,
New York, NY, 10005
(212) 389-5841

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

07/22/2025

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

SCHEDULE 13D

CUSIP No. 588056101

1

Name of reporting person

Peter R. Kellogg

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 23,455,000.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 23,455,000.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

23,455,000.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

35.1 %

14

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Stock, par value $1.00
(b)	Name of Issuer: Mercer International Inc.
(c)	Address of Issuer's Principal Executive Offices: Suite 1120, 700 West Pender Street, Vancouver, BRITISH COLUMBIA, CANADA , V6C 1G8.
Item 5.	Interest in Securities of the Issuer
(a)	As of the close of business on July 22, 2025, Mr. Kellogg beneficially owned an aggregate of 23,455,000 shares, constituting approximately 35.1% of the shares outstanding.
(b)	As of the close of business on July 22, 2025, Mr. Kellogg beneficially owned an aggregate of 23,455,000 shares, constituting approximately 35.1% of the shares outstanding.
(c)	During June 6, 2025 through June 10, 2025, entities controlled by Mr. Kellogg purchased an aggregate of 142,020 shares at prices ranging from $3.62 to $3.75 per share through the Nasdaq Stock Market. On July 22, 2025, Mr. Kellogg's spouse purchased 760,000 shares at a price of $3.25 per share through the Nasdaq Stock Market. All such transactions have been reported on Form 4s filed by the Mr. Kellogg.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Peter R. Kellogg

Signature:	/s/ Marguerite Gorman, attorney-in-fact
Name/Title:	Marguerite Gorman, attorney-in-fact
Date:	07/23/2025