SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 10)

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)

11/14/2025

(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. Checkbox not checked

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

Name of reporting person

Peter R. Kellogg

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

(a)

(b)

SEC use only

Source of funds (See Instructions)

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

Checkbox not checked

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 24,469,540.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 24,469,540.00
10	Shared Dispositive Power 0.00

Aggregate amount beneficially owned by each reporting person

24,469,540.00

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

Checkbox not checked

Percent of class represented by amount in Row (11)

36.5 %

Type of Reporting Person (See Instructions)

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 November 14, 2025, Mr. Kellogg beneficially owned an aggregate of 24,469,540 shares, constituting approximately 36.5% of the shares outstanding.

(b)

As of the close of business on November 14, 2025, Mr. Kellogg beneficially owned an aggregate of 24,469,540 shares, constituting approximately 36.5% of the shares outstanding.

(c)

During October 3, 2025 through November 14, 2025, entities controlled by Mr. Kellogg purchased an aggregate of 838,540 shares at prices ranging from $1.68 to $2.79 per share through the Nasdaq Stock Market. All such transactions have been reported on a Form 4 filed by 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:	/s/ Marguerite Gorman, attorney-in-fact
Date:	12/09/2025

Amendment: SEC Form SCHEDULE 13D/A filed by Mercer International Inc.