LakeShore Biopharma Co., Ltd, a global biopharmaceutical company specializing in 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 Parent and will cease to be a publicly traded company, with its shares delisted from the OTC Pink tier of the OTC Markets.
Under the terms of the Merger Agreement, each ordinary share of the Company (excluding Excluded Shares and Dissenting Shares) was canceled and converted into the right to receive US$0.066 in cash per share, without interest and net of applicable withholding taxes. This consideration reflects the value determined by the Special Committee of independent directors, with Kroll, LLC serving as financial advisor. Shareholders entitled to the merger consideration will receive a letter of transmittal with instructions on how to surrender their shares for payment.
The completion of this transaction marks a significant shift for LakeShore Biopharma, which previously operated as YS Biopharma and is known for its proprietary PIKA® immunomodulating technology platform. The company develops preventive and therapeutic biologics targeting Rabies, Hepatitis B, Influenza, and other viral infections, with operations in China, Singapore, and the Philippines. By going private, the company aims to reduce regulatory burdens and focus on long-term strategic goals without the quarterly pressures of public markets.
Immediately following the merger, 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 will halt the requirement to file periodic reports such as Form 20-F and Form 6-K, though the deregistration process may take time to become effective. Additionally, the company has filed a notification with FINRA to remove its trading symbols (OTCPK: LSBCF; OTCPK: LSBWF) from the OTC Pink tier, though removal may occur one or more trading days after the merger consummation. Trades executed after the merger but before removal will be invalid, as the underlying securities no longer exist.
The transaction was advised by a team of legal and financial experts. Gibson, Dunn & Crutcher LLP provided U.S. legal counsel to the Special Committee, with Maples and Calder (Hong Kong) LLP advising on Cayman Islands law. White & Case LLP served as U.S. legal counsel to the buyer group. The company emphasized that forward-looking statements in the announcement involve risks and uncertainties, including potential legal proceedings and the timing of deregistration. For more information about LakeShore Biopharma, visit https://investors.lakeshorebio.com/.
