LakeShore Biopharma Co., Ltd (OTCPK: LSBCF; OTCPK: LSBWF) announced today that its shareholders have approved the merger agreement with Oceanpine Skyline Inc. and its subsidiary, Oceanpine Merger Sub Inc. The approval came during an extraordinary general meeting of shareholders (EGM) held on June 19, 2026.
Approximately 92.3% of the company's total outstanding ordinary shares voted, with about 86.2% of votes cast in favor of the merger. The merger agreement, originally dated November 4, 2025, and amended on April 29, 2026, will result in LakeShore Biopharma becoming a wholly owned subsidiary of Oceanpine Skyline Inc. Following the merger, the company's shares and warrants will cease to be publicly traded on the OTC Markets and will be deregistered under the Securities Exchange Act of 1934.
The merger is subject to customary closing conditions. LakeShore Biopharma, previously known as YS Biopharma, focuses on developing vaccines and therapeutic biologics for infectious diseases and cancer, leveraging its proprietary PIKA® immunomodulating technology platform. The company operates in China, Singapore, and the Philippines. For more details, visit https://investors.lakeshorebio.com/.
This approval marks a significant step in the company's transition to a private entity. Forward-looking statements in the press release highlight risks including the possibility that the merger may not close as planned, financing availability, and other conditions. The company does not undertake to update these statements except as required by law.
