IKONICS business combination
Company: TeraWulf
What the later record shows
Not a promise: a reported event · happened December 13, 2021
The claim reports a completed event: the IKONICS combination closed on December 13, 2021. Later filings confirm the close date and that IKONICS shareholders received CVRs.
“each shareholder of IKONICS as of immediately prior to the Merger, received one non-transferable CVR for each outstanding share of common stock of IKONICS then held”
2024-05-12 · TeraWulf 10-Q filed 2024-05-13 View cached copy (2026-09-13)Live source ↗
“On December 13, 2021, we successfully completed the business combination with IKONICS.”
2024-05-22 · TeraWulf 424B5 filed 2024-05-23 View cached copy (2026-09-13)Live source ↗
Checked October 9, 2026 against filings, releases and reporting published after the claim was made. Quotes are verbatim from the linked documents.
The claim, verbatim
Completed business combination with IKONICS Corporation with common stock issued to IKONICS shareholders and contingent value rights arrangements
Source (primary)
TeraWulf 10-K filed 2022-03-31 (SEC EDGAR, sec_filing)
View cached copy (2026-09-13)Live source ↗
Quote: “Completed business combination with IKONICS on December 13, 2021”
How we checked this
Checked on October 11, 2026. The cited source supports every part of this claim.
The 10-K confirms the completed merger, the stock consideration to IKONICS holders and the CVR arrangement.
Confirmed in the source:
- TeraWulf completed its business combination with IKONICS Corporation on December 13, 2021
- Each IKONICS share was converted into one share of TeraWulf common stock (1,999,525 shares were issued for the acquisition)
- IKONICS shareholders received one contingent value right per share under a CVR Agreement
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1083301/000110465922041168/wulf-20211231x10k.htm) in full (353,283 characters, retrieved September 13, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms TeraWulf 10-K filed 2022-03-31
Quote: “Completed business combination with IKONICS on December 13, 2021”