Mercer International Inc. signs restructuring deals, plans Chapter 11 prepackaged plan
On November 2, 2026, Mercer International Inc. entered restructuring support agreements with holders of about 87% of its Senior Notes and about 50% of its existing equity interests, and expects to begin prepackaged Chapter 11 cases in the Southern District of Texas. The plan would exchange approximately $1.1 billion of Senior Notes for equity and provide $400 million of new money through a fully backstopped rights offering. Existing common stock will be cancelled, and shareholders are expected to receive 8.5% of the new common stock and 3.5% of the new convertible preferred stock, leaving current holders with a small share of the reorganized company.
Key points
- Consenting senior noteholders hold about 87% of the Senior Notes; consenting equityholders hold about 50% of existing equity interests.
- Chapter 11 cases are to commence no later than November 9, 2026, and the plan is to become effective no later than December 31, 2026.
- Existing common stock will be cancelled; holders are expected to receive 8.5% of new common stock and 3.5% of new convertible preferred stock.
- The $400 million rights offering is fully backstopped; Nasdaq is expected to delist the common stock after Chapter 11 cases begin.
The filing
Written by AI on Nov 9, 2026, 8:36 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on November 02, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.