I don't believe this is an equal merger. Will be interesting to see how the share position works out.
Need a lot more details now, before I get to much more excited.
In theory, a merger of equals is where two companies convert their respective stocks to those of the new, combined company. However, in practice, two companies will generally make an agreement for one company to buy the other company's common stockfrom the shareholders in exchange for its own common stock. In some rarer cases, cash or some other form of payment is used to facilitate the transaction of equity. Usually, the most common arrangements are stock-for-stock.
Mergers don't occur on a one-to-one basis, that is, exchanging one share of Company A's stock typically won't get you one share of the merged company's stock. Much like a split, the number of the new company's shares received in exchange for your stake in Company A is represented by a ratio. The real number might be one for 2.25, where one share of the new company will cost you 2.25 shares of Company A.
In the case of fractional shares, they are dealt with in one of two ways: the fraction is cashed out automatically and you get a check for the market value of your fraction, or the number of shares is rounded down.