LakeShore Biopharma Co., Ltd (OTCPK: LSBCF; OTCPK: LSBWF), a global biopharmaceutical company focused on vaccines and therapeutic biologics for infectious diseases and cancer, announced today the completion of its going private transaction. The merger with Oceanpine Merger Sub Inc., a wholly owned subsidiary of Oceanpine Skyline Inc., was finalized following shareholder approval at an extraordinary general meeting on June 19, 2026. As a result, LakeShore Biopharma became a wholly owned subsidiary of Oceanpine Skyline Inc. and will cease to be a publicly traded company.
Under the terms of the Merger Agreement, dated November 4, 2025, and amended on April 29, 2026, each ordinary share of the Company (other than excluded and dissenting shares) was cancelled and converted into the right to receive US$0.066 in cash per share, without interest and net of applicable withholding taxes. Registered shareholders entitled to the merger consideration will receive a letter of transmittal from the paying agent with instructions on how to surrender their shares. The company emphasized that payment will only be made upon proper surrender of shares and delivery of required documents.
LakeShore Biopharma intends to suspend its reporting obligations under the Securities Exchange Act of 1934 by filing a Form 15 with the U.S. Securities and Exchange Commission (SEC). This action will immediately suspend the company's obligation to file reports such as Form 20-F and Form 6-K, and will cease once deregistration becomes effective. Additionally, the company has filed an Issuer Company-Related Action Notification Form with the Financial Industry Regulatory Authority (FINRA) as required by FINRA Rule 6490. FINRA is expected to remove the company's trading symbols from the OTC Pink tier of the OTC Markets, though this may take one or more trading days. The company warned that any trades after the merger completion and before symbol removal will be invalid, as the underlying securities are no longer outstanding.
The Special Committee of the company's board of directors was advised by Kroll, LLC as financial advisor, with Gibson, Dunn & Crutcher LLP as U.S. legal counsel and Maples and Calder (Hong Kong) LLP as Cayman Islands legal counsel. The buyer group was represented by White & Case LLP.
LakeShore Biopharma, formerly known as YS Biopharma, operates in China, Singapore, and the Philippines. It has developed a proprietary PIKA® immunomodulating technology platform targeting rabies, hepatitis B, influenza, and other viral infections. The company's transition to private ownership marks a significant shift, as it will no longer be subject to public reporting requirements and market pressures, potentially allowing for longer-term strategic investments. For more information about the company, visit https://investors.lakeshorebio.com/.
