Ikonics Corporation

NASDAQ:IKNX   3:43:42 PM EDT
21.85
-0.52 (-2.33%)
Officer Changes, Divestitures / Spin-offs, Other Pre-Announcement

Terawulf And Ikonics Announce Merger Agreement

Published: 06/25/2021 13:00 GMT
Ikonics Corporation (IKNX) - Terawulf and Ikonics Announce Merger Agreement.
Ikonics Corp - Upon Completion of Business Combination, Combined Co Intends to Be Listed on Nasdaq Under Trading Symbol “wulf”.
Ikonics Corp - Ikonics Shareholders to Receive $5.00 per Share and Contingent Value Right and Collectively Retain 2% of Combined Co’s Common Stock.
Ikonics Corp - Ikonics Business to Become Subsidiary of Combined Company and Positioned for Sale.
Ikonics - Terawulf Expects to Have 50 Mw of Mining Capacity Online This Year, and Expects to Have 800 Mw Mining Capacity Deployed by 2025.
Ikonics - Co's Shareholders Will Be Entitled to Received 95% of Net Proceeds From Any Sale of Co's Legacy Business Completed During 18 Months Post Deal Close.
Ikonics - Upon Completion of Deal All Members of Ikonics Board Will Resign and Be Replaced by Persons to Be Designated by Terawulf.
Ikonics Corp - Combined Co Will Be Led by Paul Prager As Chairman and Ceo.