Bates (p.186) claims that in October 1861, the men recruited by Edward Wallace were consolidated with the regiment Edgar Gregory was forming. And a newspaper article from 19 October 1861 claims that the regiments were consolidated 'to get the sooner into the field'.
The only other reference I have so far found to this consolidation is in the Company F descriptive roll, which claims that some men were transferred from company F to Captain Sinex's company D "on Consolidation of the two Regts". The transferred men include William Weaver, Joseph Billheart, George Smith, and William Pentland.