LakeShore Biopharma Co., Ltd (OTCPK: LSBCF; OTCPK: LSBWF) announced today the completion of its going private transaction, effective immediately. 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 is now a wholly owned subsidiary of Parent 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 (excluding certain 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 any 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 in exchange for payment. The company urges shareholders to wait for this letter before taking action.
The company intends to suspend its reporting obligations under the Securities Exchange Act of 1934 by promptly filing a Form 15 with the U.S. Securities and Exchange Commission (SEC). This will immediately suspend the company's obligation to file certain reports, such as Form 20-F and Form 6-K, and will cease entirely once deregistration becomes effective. Additionally, LakeShore Biopharma has filed with the Financial Industry Regulatory Authority (FINRA) to remove its trading symbols from the OTC Pink tier of the OTC Markets. The removal may take one or more trading days after the merger's consummation. Importantly, any trades executed after the merger but before the symbols are removed will be invalid, as the underlying securities are no longer outstanding. The company provides this information to prevent invalid trades and disclaims responsibility for any losses incurred from such trades.
The merger was advised by a special committee of independent directors, with Kroll, LLC serving as financial advisor and Gibson, Dunn & Crutcher LLP as U.S. legal counsel. Maples and Calder (Hong Kong) LLP acted as Cayman Islands legal counsel to the special committee, while White & Case LLP served as U.S. legal counsel to the buyer group.
LakeShore Biopharma, previously known as YS Biopharma, is a global biopharmaceutical company focused on discovering, developing, manufacturing, and delivering vaccines and therapeutic biologics for infectious diseases and cancer. Its proprietary PIKA immunomodulating technology platform underpins a new generation of preventive and therapeutic biologics targeting Rabies, Hepatitis B, Influenza, and other viral infections. The company operates in China, Singapore, and the Philippines, led by a management team with local and global biopharmaceutical expertise. For more information, visit https://investors.lakeshorebio.com/.
The completion of this going private transaction marks a significant shift for LakeShore Biopharma, as it transitions from a public entity to a private subsidiary. This move may allow the company to focus on long-term strategic goals without the pressures of quarterly earnings reports, potentially accelerating its research and development efforts. For shareholders, the cash consideration provides an exit at a fixed price, though the delisting from OTC markets removes liquidity for the stock. The industry may view this as a trend among smaller biopharmaceutical firms seeking private investment to fund innovative platforms like PIKA, especially in the competitive vaccine and therapeutic biologics market.
