One genuine question.After the merger, likely the new co. will...

One genuine question.
After the merger, likely the new co. will have new name and likely new ticker code let's say OGY.
what will happen to all the short position in ORG or GXY. Are they allowed to buy OGY and pay back ORG or GXY?
If they cannot then, do the need to force close their positions before the merger? If yes, $6 party is not far IMO.