SECURITIES & EXCHANGE COMMISSION
Washington, D.C. 20549
----------------------
SCHEDULE 13G/A*
(Rule 13d-102)
Amendment No. 1*
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULES 13d-1(b), (c) AND (d) AND AMENDMENTS THERETO FILED
PURSUANT TO 13d-2(b)
Mercer International, Inc.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
588056101
(CUSIP Number)
December 31, 2005
(Date of event which requires filing of this statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule 13G/A is filed:
[ ] Rule 13d-1(b)
[x] Rule 13d-1(c)
[ ] Rule 13d-1(d)
(Page 1 of 12 Pages)
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*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which would
alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be
deemed to be "filed" for purposes 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).
CUSIP No. 588056101 13G/A Page 2 of 12 Pages
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(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSONS (ENTITIES ONLY)
FVH Ivory Accredited, L.P.
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [x]
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(3) SEC USE ONLY
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(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF (5) SOLE VOTING POWER
-0-
SHARES --------------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
83,005
OWNED BY --------------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
-0-
REPORTING --------------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
83,005
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(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
83,005
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(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES ** [ ]
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(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
0.25%
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(12) TYPE OF REPORTING PERSON **
PN
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** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 588056101 13G/A Page 3 of 12 Pages
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(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSONS (ENTITIES ONLY)
Ivory Investment Management, L.P.
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [x]
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(3) SEC USE ONLY
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(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF (5) SOLE VOTING POWER
-0-
SHARES --------------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
1,050,000 shares of Common Stock; 8.5% Convertible Notes
convertible into 980,645 shares of Common Stock
OWNED BY --------------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
-0-
REPORTING --------------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
1,050,000 shares of Common Stock; 8.5% Convertible Notes
convertible into 980,645 shares of Common Stock
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(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,050,000 shares of Common Stock; 8.5% Convertible Notes
convertible into 980,645 shares of Common Stock
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(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES ** [ ]
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(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
3.07% Common Stock + 2.87% Common Stock (through conversion
of the Convertible Notes if converted) = 5.94%
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(12) TYPE OF REPORTING PERSON **
PN
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** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 588056101 13G/A Page 4 of 12 Pages
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(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSONS (ENTITIES ONLY)
IIM GP, LLC
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [x]
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(3) SEC USE ONLY
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(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
-----------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
-0-
SHARES --------------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
1,050,000 shares of Common Stock; 8.5% Convertible Notes
convertible into 980,645 shares of Common Stock
OWNED BY --------------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
-0-
REPORTING --------------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
1,050,000 shares of Common Stock; 8.5% Convertible Notes
convertible into 980,645 shares of Common Stock
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(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,050,000 shares of Common Stock; 8.5% Convertible Notes
convertible into 980,645 shares of Common Stock
-----------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES ** [ ]
-----------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
3.07% Common Stock + 2.87% Common Stock (through conversion
of the Convertible Notes if converted) = 5.94%
-----------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
CO
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** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 588056101 13G/A Page 5 of 12 Pages
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(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSONS (ENTITIES ONLY)
Ivory Capital Advisors, LLC
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [x]
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(3) SEC USE ONLY
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(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
-----------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
-0-
SHARES --------------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
83,005
OWNED BY --------------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
-0-
REPORTING --------------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
83,005
-----------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
83,005
-----------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES ** [ ]
-----------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.25%
-----------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
CO
-----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 588056101 13G/A Page 6 of 12 Pages
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(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSONS (ENTITIES ONLY)
Ivory Capital Group, LLC
-----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [x]
-----------------------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
-----------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
-0-
SHARES --------------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
83,005
OWNED BY --------------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
-0-
REPORTING --------------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
83,005
-----------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
83,005
-----------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES ** [ ]
-----------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.25%
-----------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
CO
-----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 588056101 13G/A Page 7 of 12 Pages
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(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSONS (ENTITIES ONLY)
Curtis G. Macnguyen
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [x]
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(3) SEC USE ONLY
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(4) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
-----------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
-0-
SHARES --------------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
1,050,000 shares of Common Stock; 8.5% Convertible Notes
convertible into 980,645 shares of Common Stock
OWNED BY --------------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
-0-
REPORTING --------------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
1,050,000 shares of Common Stock; 8.5% Convertible Notes
convertible into 980,645 shares of Common Stock
-----------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,050,000 shares of Common Stock; 8.5% Convertible Notes
convertible into 980,645 shares of Common Stock
-----------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES ** [ ]
-----------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
3.07% Common Stock + 2.87% Common Stock (through conversion
of the Convertible Notes if converted) = 5.94%
-----------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
IN
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** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 588056101 13G/A Page 8 of 12 Pages
Item 1(a). Name of Issuer:
The name of the issuer is Mercer International, Inc. (the "Issuer").
Item 1(b). Address of Issuer's Principal Executive Offices:
The Issuer's principal executive offices are located at Suite 2840, 650 West
Georgia Street, Vancouver, British Columbia, Canada, V6B 4N8.
Item 2(a). Name of Person Filing:
This statement is filed by:
(i) FVH Ivory Accredited L.P. a Delaware limited partnership
("FVH Ivory Accredited"), with respect to the shares of Common
Stock directly owned by it;
(ii) Ivory Investment Management, L.P., a Delaware limited
partnership (the "Investment Manager"), with respect to the
shares of Common Stock directly owned by FVH Ivory Accredited
and FrontPoint Value Horizon Fund, L.P., a Delaware limited
partnership ("FrontPoint Value Horizons Fund"), and with
respect to the shares of Common Stock through conversion of
the Convertible Notes if converted, directly owned by FVH
Senior Income Fund, LLC, a Delaware limited liability company
("FVH Senior Income Fund");
(iii) IIM GP, LLC, a Delaware limited liability company ("IIM
GP") which serves as general partner to the Investment
Manager, with respect to the shares of Common Stock directly
owned by FVH Ivory Accredited and FrontPoint Value Horizons
Fund, and with respect to the shares of Common Stock through
conversion of the Convertible Notes if converted, directly
owned by FVH Senior Income Fund;
(iv) Ivory Capital Advisors, LLC, a Delaware limited liability
company ("Ivory Capital Advisors") which serves as general
partner to FVH Ivory Accredited, with respect to the shares of
Common Stock directly owned by FVH Ivory Accredited;
(v) Ivory Capital Group, LLC, a Delaware limited liability
company ("ICG") which is the managing member of Ivory Capital
Advisors, with respect to the shares of Common Stock directly
owned by FVH Ivory Accredited;
(vi) Curtis G. Macnguyen, with respect to shares of Common
Stock directly owned by FVH Ivory Accredited and FrontPoint
Value Horizons Fund, and with respect to shares of Common
Stock through conversion of the Convertible Notes if
converted, directly owned by FVH Senior Income Fund.
CUSIP No. 588056101 13G/A Page 9 of 12 Pages
The foregoing persons are hereinafter sometimes collectively referred to as
the "Reporting Persons." Any disclosures herein with respect to persons other
than the Reporting Persons are made on information and belief after making
inquiry to the appropriate party.
Item 2(b). Address of Principal Business Office or, if None, Residence:
The address of the principal business office of each of the Reporting
Persons is 11755 Wilshire Boulevard, Suite 1350, Los Angeles, California 90025.
Item 2(c). Citizenship:
Each of FVH Ivory Accredited and the Investment Manager is a limited
partnership organized under the laws of the State of Delaware. Each of IIM GP,
Ivory Capital Advisors and ICG is a limited liability company organized under
the laws of the State of Delaware. Mr. Macnguyen is a United States citizen.
Item 2(d). Title of Class of Securities:
Common Stock, par value $0.01 per share (the "Common Stock").
Item 2(e). CUSIP Number: 588056101
Item 3. If this statement is filed pursuant to Rules 13d-1(b) or 13d-2(b) or
(c), check whether the person filing is a:
(a) [ ] Broker or dealer registered under Section 15 of the Act,
(b) [ ] Bank as defined in Section 3(a)(6) of the Act,
(c) [ ] Insurance Company as defined in Section 3(a)(19) of the
Act,
(d) [ ] Investment Company registered under Section 8 of the
Investment Company Act of 1940,
(e) [ ] Investment Adviser in accordance with Rule 13d-1
(b)(1)(ii)(E),
(f) [ ] Employee Benefit Plan or Endowment Fund in accordance
with Rule 13d-1 (b)(1)(ii)(F),
(g) [ ] Parent Holding Company or control person in accordance
with Rule 13d-1 (b)(1)(ii)(G),
(h) [ ] Savings Association as defined in Section 3(b) of the
Federal Deposit Insurance Act,
(i) [ ] Church Plan that is excluded from the definition of an
investment company under Section 3(c)(14) of the Investment
Company Act of 1940,
CUSIP No. 588056101 13G/A Page 10 of 12 Pages
(j) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(J).
Not applicable
Item 4. Ownership.
A. FVH Ivory Accredited, L.P.
(a) Amount beneficially owned: 83,005
(b) Percent of class: 0.25%. The percentages used herein and in
the rest of Item 4 are calculated based upon the 33,169,140
shares of Common Stock outstanding as of November 8, 2005, as
reported by the Company in its Form 10-Q for the fiscal
quarter ending September 30, 2005. The percentages reported
herein reflect the beneficial ownership of the Reporting
Persons as of the date of the event which necessitated this
filing.
(c)(i) Sole power to vote or direct the vote: 0
(ii) Shared power to vote or direct the vote: 83,005
(iii) Sole power to dispose or direct the disposition: 0
(iv) Shared power to dispose or direct the disposition: 83,005
B. Ivory Investment Management, L.P.
(a) Amount beneficially owned: 1,050,000 shares of Common Stock;
8.5% Convertible Notes convertible into 980,645 shares of
Common Stock
(b) Percent of class: 3.07% Common Stock + 2.87% Common Stock
(through conversion of the Convertible Notes if converted) =
5.94%
(c)(i) Sole power to vote or direct the vote: 0
(ii) Shared power to vote or direct the vote: 1,050,000
shares of Common Stock; 8.5% Convertible Notes convertible
into 980,645 shares of Common Stock
(iii) Sole power to dispose or direct the disposition: 0
(iv) Shared power to dispose or direct the disposition:
1,050,000 shares of Common Stock; 8.5% Convertible Notes
convertible into 980,645 shares of Common Stock
C. IIM GP, LLC
(a) Amount beneficially owned: 1,050,000 shares of Common Stock;
8.5% Convertible Notes convertible into 980,645 shares of
Common Stock
(b) Percent of class: 3.07% Common Stock + 2.87% Common Stock
(through conversion of the Convertible Notes if converted) =
5.94%
(c)(i) Sole power to vote or direct the vote: 0
(ii) Shared power to vote or direct the vote: 1,050,000
shares of Common Stock; 8.5% Convertible Notes convertible
into 980,645 shares of Common Stock
(iii) Sole power to dispose or direct the disposition: 0
(iv) Shared power to dispose or direct the disposition:
1,050,000 shares of Common Stock; 8.5% Convertible Notes
convertible into 980,645 shares of Common Stock
CUSIP No. 588056101 13G/A Page 11 of 12 Pages
D. Ivory Capital Advisors, LLC
(a) Amount beneficially owned: 83,005
(b) Percent of class: 0.25%
(c)(i) Sole power to vote or direct the vote: 0
(ii) Shared power to vote or direct the vote: 83,005
(iii) Sole power to dispose or direct the disposition: 0
(iv) Shared power to dispose or direct the disposition: 83,005
E. Ivory Capital Group, LLC
(a) Amount beneficially owned: 83,005
(b) Percent of class: 0.25%
(c)(i) Sole power to vote or direct the vote: 0
(ii) Shared power to vote or direct the vote: 83,005
(iii) Sole power to dispose or direct the disposition: 0
(iv) Shared power to dispose or direct the disposition: 83,005
F. Curtis G. Macnguyen
(a) Amount beneficially owned: 1,050,000 shares of Common Stock;
8.5% Convertible Notes convertible into 980,645 shares of Common
Stock
(b) Percent of class: 3.07% Common Stock + 2.87% Common Stock
(through conversion of the Convertible Notes if converted) =
5.94%
(c)(i) Sole power to vote or direct the vote: 0
(ii) Shared power to vote or direct the vote: 1,050,000
shares of Common Stock; 8.5% Convertible Notes convertible
into 980,645 shares of Common Stock
(iii) Sole power to dispose or direct the disposition: 0
(iv) Shared power to dispose or direct the disposition:
1,050,000 shares of Common Stock; 8.5% Convertible Notes
convertible into 980,645 shares of Common Stock
Item 5. Ownership of Five Percent or Less of a Class.
Not Applicable.
Item 6. Ownership of More than Five Percent on Behalf of Another Person.
Ivory Capital Advisors, the general partner of FVH Ivory Accredited, has
the power to direct the affairs of FVH Ivory Accredited, including decisions
with respect to the receipt of dividends from, and the disposition of the
proceeds from the sale of, the Common Shares. ICG is the managing member of
Ivory Capital Advisors. Mr. Macnguyen is a managing member of ICG and in that
capacity directs its operations. The Investment Manager, as the investment
manager to FrontPoint Value Horizons Fund, FVH Ivory Accredited and FVH Senior
Income Fund, has the power to direct the investment activities of FrontPoint
Value Horizons Fund, FVH Ivory Accredited and FVH Senior Income Fund, including
decisions with respect to the receipt of dividends from, and the disposition of
the proceeds from the sale of, the Common Shares. IIM GP is the general partner
of the Investment Manager. Mr. Macnguyen is a managing member of IIM GP and in
that capacity directs its operations.
CUSIP No. 588056101 13G/A Page 12 of 12 Pages
Item 7. Identification and Classification of the Subsidiary Which Acquired
the Security Being Reported on by the Parent Holding Company.
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. Certification.
Each of the Reporting Persons hereby makes the following certification:
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.
SIGNATURES
After reasonable inquiry and to the best of our knowledge and belief, the
undersigned certify that the information set forth in this statement is true,
complete and correct.
DATED: February 14, 2006
/s/ Curtis G. Macnguyen
-----------------------
Curtis G. Macnguyen, individually, and as
managing member of Ivory Capital Group, LLC,
for itself and as managing member of Ivory
Capital Advisors, LLC, for itself and as
general partner of FVH Ivory Accredited, L.P.,
and as managing member of IIM GP, LLC, for
itself and as general partner of Ivory
Investment Management, L.P.