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 is now 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 LakeShore Biopharma (excluding certain excluded and dissenting shares) was cancelled and converted into the right to receive US$0.066 in cash, without interest. 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 has advised shareholders to wait for this letter before taking any action.
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 filing will immediately suspend the company's obligation to file reports such as Form 20-F and Form 6-K, and the deregistration will become effective once processed. Additionally, the company has filed an Issuer Company-Related Action Notification Form with the Financial Industry Regulatory Authority (FINRA) to remove its trading symbols from the OTC Pink tier. FINRA is expected to effect this removal, but it may take one or more trading days post-merger. The company cautioned that any trades occurring after the merger's completion but before the removal of the trading symbols will be invalid, as the underlying securities are no longer outstanding.
The going private transaction was advised by Kroll, LLC as financial advisor to a special committee of independent directors, with Gibson, Dunn & Crutcher LLP serving as U.S. legal counsel and Maples and Calder (Hong Kong) LLP as Cayman Islands legal counsel. White & Case LLP acted as U.S. legal counsel to the buyer group.
LakeShore Biopharma, formerly known as YS Biopharma, has developed a proprietary PIKA® immunomodulating technology platform and a pipeline of preventive and therapeutic biologics targeting Rabies, Hepatitis B, Influenza, and other viral infections. The company operates in China, Singapore, and the Philippines. More information about the company can be found at https://investors.lakeshorebio.com/.
The completion of this going private transaction marks a significant shift for LakeShore Biopharma, allowing it to focus on its long-term strategic goals without the scrutiny and reporting requirements of public markets. This move could enable the company to accelerate its research and development efforts, particularly for its PIKA® platform and vaccine candidates, while potentially reducing operational costs associated with public company compliance.
