I truly hope it isn't a reverse merger (let alone a reverse merger which includes a reverse share split) the main reason being that in most cases existing shareholders are required to lock-up their shares for a period of time following the closing of the transaction.

Any shares subject to a lock-up agreement would be considered 'Restricted Securities', and therefore may prevent the reverse merger company from satisfying the ongoing exchange requirements - mainly because Nasdaq excludes 'Restricted Securities' from calculations of an issuer’s public float or market cap, and Nasdaq also requires that at least 50% of an issuer’s round lot holders hold unrestricted securities.

The only way a company could overcome this is to register additional new unrestricted / common shares to increase its public float... which would NOT be good for existing shareholders.