UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
ITEM 8.01. Other Events.
On September 19, 2023, Mercer International Inc. (the “Company”) announced the pricing of its offering of $200.0 million aggregate principal amount of 12.875%% senior notes due October 1, 2028 (the “2028 Notes”).
The 2028 Notes will be issued at a price of 100% of their principal amount. The net proceeds of the offering will be used by the Company to pay down borrowings under its Canadian revolving credit facility, and for working capital and general corporate purposes, including discretionary capital projects at its facilities.
The 2028 Notes are being offered and sold to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and outside the United States to non-U.S. persons in reliance on Regulation S under the Securities Act.
A copy of the Company’s press release dated September 19, 2023 is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
This Current Report on Form 8-K does not constitute an offer to sell, or a solicitation of an offer to buy, the 2028 Notes or any security, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offering would be unlawful.
ITEM 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit Number |
Description | |
99.1 | Press release of the Company dated September 19, 2023. | |
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
MERCER INTERNATIONAL INC. | ||||||
Date: September 19, 2023 | By: | /s/ Richard Short | ||||
Richard Short | ||||||
Chief Financial Officer |
Exhibit 99.1
For Immediate Release
MERCER INTERNATIONAL INC. ANNOUNCES PRICING OF PRIVATE OFFERING OF SENIOR NOTES
NEW YORK, NY, September 19, 2023 Mercer International Inc. (Nasdaq: MERC) (the Company) today announced the pricing of its private offering of $200.0 million in aggregate principal amount of 12.875% senior notes due October 1, 2028 (the 2028 Notes).
The 2028 Notes are being issued at a price of 100% of their principal amount. The net proceeds of the offering will be used by the Company to pay down borrowings under its Canadian revolving credit facility, and for working capital and general corporate purposes, including discretionary capital projects at its facilities.
The offering of the 2028 Notes is expected to close on or around September 21, 2023, subject to the satisfaction of customary closing conditions.
The 2028 Notes are being offered and sold to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the Securities Act), and outside the United States to non-U.S. persons in reliance on Regulation S under the Securities Act.
The 2028 Notes have not been registered under the Securities Act, or any state securities laws, and unless so registered, may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the 2028 Notes in any state or jurisdiction in which such offer, solicitation or sale would be unlawful.
Mercer International Inc. is a global forest products company with operations in Germany, the United States and Canada with consolidated annual production capacity of 2.3 million tonnes of pulp, 960 million board feet of lumber, 210,000 cubic meters of cross-laminated timber, 45,000 cubic meters of glulam, 17 million pallets and 230,000 metric tonnes of biofuels.
The preceding contains forward looking statements within the meaning of federal securities laws and is intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995, including, without limitation, the Companys intentions regarding the consummation of the offering of the 2028 Notes and the intended use of proceeds. Forward looking statements involve unknown risks and uncertainties which may cause the Companys actual results in future periods to differ materially from forecasted results. These statements are based on the Companys managements estimates and assumptions with respect to future events, which include uncertainty as to its ability to consummate the offering of the 2028 Notes, which estimates are believed to be reasonable, though inherently uncertain and difficult to predict. A discussion of factors that could cause actual results to vary is included in the Companys Annual Report on Form 10-K and other periodic reports filed with the Securities and Exchange Commission.
APPROVED BY:
Jimmy S.H. Lee
Executive Chairman
(604) 684-1099
Juan Carlos Bueno
Chief Executive Officer
(604) 684-1099
Document and Entity Information |
Sep. 19, 2023 |
---|---|
Cover [Abstract] | |
Amendment Flag | false |
Entity Central Index Key | 0001333274 |
Document Type | 8-K |
Document Period End Date | Sep. 19, 2023 |
Entity Registrant Name | MERCER INTERNATIONAL INC. |
Entity Incorporation State Country Code | WA |
Entity File Number | 000-51826 |
Entity Tax Identification Number | 47-0956945 |
Entity Address, Address Line One | Suite 1120 |
Entity Address, Address Line Two | 700 West Pender Street |
Entity Address, City or Town | Vancouver |
Entity Address, State or Province | BC |
Entity Address, Country | CA |
Entity Address, Postal Zip Code | V6C 1G8 |
City Area Code | (604) |
Local Phone Number | 684-1099 |
Written Communications | false |
Soliciting Material | false |
Pre Commencement Tender Offer | false |
Pre Commencement Issuer Tender Offer | false |
Security 12b Title | Common Stock, par value $1.00 per share |
Trading Symbol | MERC |
Security Exchange Name | NASDAQ |
Entity Emerging Growth Company | false |
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