Here’s to know why IKONICS Corporation (IKNX) stock is soaring today

Related Topics

Share on facebook
Share on twitter
Share on linkedin
Share on whatsapp

IKONICS Corporation (IKNX) stock and TeraWulf announced the merger agreement today on June 25, 2021, after which the IKNX stock price saw a surge of 97.35% to reach $22.30 a share at the time of this writing. IKONICS Corporation is an imaging technology company that is engaged in the manufacturing and selling of photosensitive liquids and films around the globe. Let’s discuss the recent events in detail.

What’s Happening?

IKONICS stock entered into the merger agreement with TeraWulf pursuant to which both of these companies will combine under the new holding company. TeraWulf is now expecting to be listed on the Nasdaq stock market. The new combined holding will have the name TeraWulf Inc and would trade in the Nasdaq stock market under the ticker symbol WULF.

Agreement Overview:

According to the unanimously approved agreement, each outstanding share of the IKNX common stock will get $5.00 in cash, one CVR, and one share of the common stock of the combined company. The shareholders of the IKNX stock will get 95% of the net proceeds via CVR’s from any sale of IKNX’s legacy business during the one and half year period following the closing of the combined business. The shareholders of IKNX would not be entitled to the above-mentioned percentage of net proceeds after 18 months concerning any unsold IKNX’s legacy business. Subject to regulatory approvals by concerned authorities, the transaction is expected to close in the second half of 2021.

Previous activity by IKNX stock:

On May 21, 2021, did announce the brand collaboration with Teresa Collins Studio, which is a reputable global brand in the craft industry, in order to promote the Ikonart® Custom Stencil Kit as well as Ikonart ancillary product line. Teresa’s brand images, designs, and patterns will be used by Ikonart.

Financial View of the IKNX stock:

According to first-quarter 2021 financial results, IKONICS stock net sales were reduced by  12.1% to drop at $3,073,000 as compared to $3,497,000 net sales in the first quarter of 2020.Net loss of $322,000 was improved by 45.1% as compared to $587,000 net loss in the same quarter of last year.

IKNX stock had $4.4 million cash, $4.1 million working capital, and a netbook value of $11.6 million by the end of March 2021.


The merger agreement with TeraWulf made the IKONICS stock bullish today. The management thinks that this merger agreement would provide ideal outcomes for its shareholders, employees, and customers.

Leave a Comment

Your email address will not be published. Required fields are marked *

Latest Posts



Download Free eBook For


100% free. stop anytime no spam