LakeShore Biopharma Co., Ltd (OTCPK: LSBCF; OTCPK: LSBWF), a global biopharmaceutical company focused on vaccines and therapeutic biologics for infectious diseases and cancer, has announced an extraordinary general meeting (EGM) of shareholders to consider and vote on a proposed merger that would take the company private. The EGM is scheduled for June 19, 2026, at 1:00 p.m. Beijing time at the company's headquarters in Beijing, China.
The meeting will address the authorization and approval of the previously disclosed Agreement and Plan of Merger, dated November 4, 2025, as amended on April 29, 2026, among the company, Oceanpine Skyline Inc. (Parent), and Oceanpine Merger Sub Inc. (Merger Sub), a wholly owned subsidiary of Parent. Under the terms of the merger agreement, Merger Sub will merge with and into LakeShore Biopharma, with the company surviving as a wholly owned subsidiary of Parent. Upon completion, LakeShore Biopharma will become a privately held company, and its ordinary shares and warrants will no longer be listed on any public market, including the OTC Pink tier of the OTC Markets. Additionally, the shares and warrants will cease to be registered under Section 12 of the Securities Exchange Act of 1934.
The company's board of directors, acting on the unanimous recommendation of a special committee of independent directors, has authorized and approved the merger agreement and the plan of merger, and recommends that shareholders vote in favor of the proposal. Shareholders of record as of 5:00 p.m. Cayman Islands time on May 27, 2026, are entitled to attend and vote at the EGM.
This development is significant for shareholders and the broader industry, as it represents a strategic move by LakeShore Biopharma to transition from a publicly traded entity to a private company. The decision to go private may allow the company to focus on long-term strategic goals without the pressures of quarterly earnings reports and public market scrutiny. For the biopharmaceutical sector, such transactions are not uncommon as companies seek flexibility in research and development, particularly in the competitive fields of vaccine and therapeutic biologic development.
LakeShore Biopharma, previously known as YS Biopharma, has developed a proprietary PIKA immunomodulating technology platform and a pipeline targeting rabies, hepatitis B, influenza, and other viral infections. The company operates in China, Singapore, and the Philippines. The merger could provide the financial and operational stability needed to advance its pipeline, potentially impacting the availability of new vaccines and biologics for infectious diseases and cancer.
Additional information about the EGM and the merger can be found in the transaction statement on Schedule 13E-3 and the definitive proxy statement filed with the U.S. Securities and Exchange Commission (SEC). These documents are available on the SEC's website at http://www.sec.gov. Shareholders are urged to read these materials carefully, as they contain important information about the company, the proposed merger, and related matters. The company and certain directors and executive officers may be deemed participants in the solicitation of proxies, and their interests are detailed in the proxy statement.
The completion of the merger is subject to shareholder approval and other customary conditions. The company cautions that forward-looking statements in this announcement involve risks and uncertainties, including how shareholders will vote, the possibility of competing offers, and the satisfaction of closing conditions. LakeShore Biopharma does not undertake any obligation to update forward-looking statements except as required by law.
