NEW YORK, June 28, 2021 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, has launched an investigation into whether the board members of IKONICS Corporation (NASDAQ: IKNX) breached their fiduciary duties or violated the federal securities laws in connection with the company’s acquisition by TeraWulf Inc.
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On June 25, 2021, IKONICS announced that it had signed an agreement to merge with TeraWulf. Pursuant to the merger agreement, IKONICS stockholders will receive $5 in cash, 1 Contingent Value Right, and 1 share of the combined company’s common stock for each share of TeraWulf common stock owned. The deal is scheduled to close in the second half of 2021.
Bragar Eagel & Squire is concerned that IKONICS’ board of directors oversaw an unfair process and ultimately agreed to an inadequate merger agreement. Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for IKONICS’ stockholders.
If you own shares of IKONICS and are concerned about the proposed merger, or you are interested in learning more about the investigation or your legal rights and remedies, please contact Melissa Fortunato or Alexandra Raymond by email at firstname.lastname@example.org or telephone at (646) 860-9157, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.