First, I don't believe the management of this co knows how to handle success.
second, the VP's and COO traded 1/2 their shares away in the 13's and 14's.
Thirdly, the SEC today charges them with being late on filing some papers for converting $ 300,000 offering for debt or something like that.
Put it all together and this makes the 13's and 14's a very difficult level to overcome anytime soon.
I am now trading some MERC and taking some gain before this heads back to 10 or 11 because the management of MERC failed to stand up and represent and chose other approaches counter to new investors interests. My new sentiment is not an option but I now clasify this issue as a trader issue but not a long term hold at these levels.
Corect. On 3/28 they offered to exchange Registered Notes for the Private Notes. That was the "big" news.
NEW YORK, March 28, 2011 (GLOBE NEWSWIRE) -- Mercer International Inc. (Nasdaq:MERC - News) (TSX:MRI-U - News) (the "Company") today announced that it has commenced a registered exchange offer to exchange up to $300 million aggregate principal amount of its 9.5% Senior Notes due 2017 which have been registered under the Securities Act of 1933, as amended (the "Registered Notes"), for any and all of its outstanding 9.5% Senior Notes due 2017 which were issued in a private placement (the "Private Notes"). THE SOLE PURPOSE FOR THE EXCHANGE OFFER IS TO FULFILL THE OBLIGATIONS OF THE COMPANY WITH RESPECT TO THE REGISTRATION OF THE PRIVATE NOTES.
To be clear, the new exchange notes DO NOT HAVE A HIGHER INTEREST RATE THAN THE NOTES THEY ARE BEING EXCHANGED FOR. Both carry a rate of 9.5%. The notes that were issued in Nov 2010 that replaced 2005 notes were 0.25% higher.
2 yrs ago this was a $1 stock. It goes up to $14 and you don't think any insiders will sell? They are insiders not investors. When the stock was $1.70 in March 2009, CEO Jimmy Lee scooped up hundreds of thousands of shares. It wasn't the first time he dug deep into his own pockets to buy more Mercer shares. Perhaps i would classify him as an insider AND an investor. I wouldn't blame him for selling any as he has accumulated about 2.5M shares. When he sells more than 50% of his holdings, I would consider that a negative. Until then, focus on Mercers financials, NBSK mkt, China, other investors and the CEO, not an insider that wants to pay off a large mortgage, buy a cottage or pay off his ex-wife.
TD Ameritrade lists MERC S-4 registration effectiveness at bottom
REGISTRATIONS EFFECTIVE AS OF March 25, 2011
EMPIRE RESORTS INC (NYNY) File Number: 333-171471 Date of Original Registration: 12/29/10 Form Type: S-1 Securities Registered: UP TO 39,606,201 SHARES OF COMMON STOCK Selling Holder: No
FIRST AMERICAN GROUP INC. File Number: 333-171091 Date of Original Registration: 12/10/10 Form Type: S-1 Securities Registered: 628,000 SHARES OF COMMON STOCK Selling Holder: No
Movie Trailer Galaxy, Inc. File Number: 333-169970 Date of Original Registration: 10/15/10 Form Type: S-1 Securities Registered: 843,800 SHARES OF COMMON STOCK Selling Holder: Yes
QKL Stores Inc. (QKLS) File Number: 333-167087 Date of Original Registration: 5/26/10 Form Type: S-1 Securities Registered: 20,302,696 Shares of Common Stock Selling Holder: Yes
REEDS INC (REED) File Number: 333-172614 Date of Original Registration: 3/4/11 Form Type: S-3 Securities Registered: 426,832 Shares of Common Stock Selling Holder: Yes
VIEW SYSTEMS INC (VSYM) File Number: 333-169804 Date of Original Registration: 10/7/10 Form Type: S-1 Securities Registered: A Total of 51,500,000, Shares of Common Stock Offered for Sale Selling Holder: Yes
Water Resources Group (WTRSY) File Number: 333-172830 Date of Original Registration: 3/15/11 Form Type: F-6 Securities Registered: 50,000,000 American Depositary Shares Selling Holder: No
S-4s and F-4s:
MERCER INTERNATIONAL INC. (MERC) File Number: 333-172391 Date of Original Registration: 2/22/11 Form Type: S-4 Securities Registered: $300,000,000 principal amount of its 9.5% Senior Notes due 2017 Selling Holder: No