The 150M is authorized shares. These are shared that the company can issue but doesn't have to. They aren't counted towards market cap. At close of merger there will be roughly 45M outstanding shares. This is 13.7M currently held by Tapimmune shareholders, 13.7M that will be issued to current Marker shareholders, and 17.5M issued to the new investors. The current authorized share amount is somewhere around 42M so they needed to increase the authorized share amount to be able to issue the shares relating to the last financing. You will never see a company issue all of their authorized shares.
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