Mercer International: LM Asset Management reports 8%

Each reporting person has shared voting and dispositive power and zero sole power over the reported shares.

Available on EDGAR 11/10/2026 - 03:45 PM EST Accepted by SEC EDGAR 11/10/2026 - 03:45 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

LM Asset Management Inc., Daniel Lau, and Christine Wai Gee Man each report beneficial ownership of 5,390,000 shares of Mercer International Inc. (MERC) common stock, equal to 8.0% of the class. Each reports the same amount separately.

Each lists shared voting and dispositive power over 5,390,000 shares, with zero sole voting or dispositive power. The percentage calculation uses 67,018,033 shares outstanding as of November 3, 2026. The reporting persons filed jointly but state they are not members of a group; each disclaims beneficial ownership except to the extent of that person's pecuniary interest.

Key Figures

Beneficially owned shares (each reporting person): 5,390,000 shares Percent of class: 8.0% Shares outstanding: 67,018,033 shares +4 more

7 metrics

Beneficially owned shares (each reporting person) 5,390,000 shares The same amount is reported separately by each of the three reporting persons.

Percent of class 8.0% Calculated using 67,018,033 shares outstanding as of November 3, 2026.

Shares outstanding 67,018,033 shares As of November 3, 2026.

Shared voting power 5,390,000 shares Reported by each reporting person.

Shared dispositive power 5,390,000 shares Reported by each reporting person.

Sole voting power 0 shares Reported by each reporting person.

Sole dispositive power 0 shares Reported by each reporting person.

Key Terms

beneficial ownership, Shared Voting Power, Shared Dispositive Power, pecuniary interest

4 terms

beneficial ownership regulatory

"disclaims beneficial ownership of the Common Stock"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

Shared Voting Power regulatory

"Shared Voting Power 5,390,000.00"

Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.

Shared Dispositive Power regulatory

"Shared Dispositive Power 5,390,000.00"

pecuniary interest regulatory

"except to the extent of that reporting person's pecuniary interest therein"

FAQ

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

How many MERC shares do the reporting persons report?

LM Asset Management Inc., Daniel Lau, and Christine Wai Gee Man each report beneficial ownership of 5,390,000 shares, equal to 8.0% of the class.

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

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

MERCER INTERNATIONAL INC.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

588056101

(CUSIP Number)

11/04/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 588056101

1

Names of Reporting Persons

LM Asset Management Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

BRITISH COLUMBIA, CANADA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 5,390,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 5,390,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

5,390,000.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

8.0 %

12

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person: The percentage reported herein is calculated based on 67,018,033 shares of Common Stock outstanding as of November 3, 2026, as reported in the Form 10-Q filed by the Issuer on November 5, 2026.

SCHEDULE 13G

CUSIP Number(s): 588056101

1

Names of Reporting Persons

Daniel Lau

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

CANADA (FEDERAL LEVEL)

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 5,390,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 5,390,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

5,390,000.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

8.0 %

12

Type of Reporting Person (See Instructions)

HC, IN

Comment for Type of Reporting Person: The percentage reported herein is calculated based on 67,018,033 shares of Common Stock outstanding as of November 3, 2026, as reported in the Form 10-Q filed by the Issuer on November 5, 2026.

SCHEDULE 13G

CUSIP Number(s): 588056101

1

Names of Reporting Persons

Christine Wai Gee Man

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

CANADA (FEDERAL LEVEL)

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 5,390,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 5,390,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

5,390,000.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

8.0 %

12

Type of Reporting Person (See Instructions)

HC, IN

Comment for Type of Reporting Person: The percentage reported herein is calculated based on 67,018,033 shares of Common Stock outstanding as of November 3, 2026, as reported in the Form 10-Q filed by the Issuer on November 5, 2026.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: MERCER INTERNATIONAL INC.
(b)	Address of issuer's principal executive offices: Suite 1120, 700 West Pender Street, Vancouver, British Columbia, Canada, V6C 1G8
Item 2.
(a)	Name of person filing: LM Asset Management Inc. Daniel Lau Christine Man The reporting persons are filing this statement jointly, but not as members of a group. Each reporting person expressly disclaims membership in a group. Each reporting person also disclaims beneficial ownership of the Common Stock except to the extent of that reporting person's pecuniary interest therein.
(b)	Address or principal business office or, if none, residence: 1640-1055 West Hastings Street, Vancouver, British Columbia, Canada V6E 2E9
(c)	Citizenship: See Item 4 of the cover sheet for each Reporting Person.
(d)	Title of class of securities: Common Stock
(e)	CUSIP Number(s): 588056101
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: See Item 9 on the cover page(s) hereto.
(b)	Percent of class: See Item 11 on the cover page(s) hereto.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See Item 5 on the cover page(s) hereto.
	(ii) Shared power to vote or to direct the vote: See Item 6 on the cover page(s) hereto.
	(iii) Sole power to dispose or to direct the disposition of: See Item 7 on the cover page(s) hereto.
	(iv) Shared power to dispose or to direct the disposition of: See Item 8 on the cover page(s) hereto.
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

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.

LM Asset Management Inc.

Signature:	/s/ Daniel Lau
Name/Title:	Director
Date:	11/10/2026

Daniel Lau

Signature:	/s/ Daniel Lau
Name/Title:	Reporting Person
Date:	11/10/2026

Christine Wai Gee Man

Signature:	/s/ Christine Wai Gee Man
Name/Title:	Reporting Person
Date:	11/10/2026

Exhibit Information

Exhibit 99.1 - Agreement Regarding Joint Filing of Statement on Schedule 13D or 13G