LakeShore Biopharma Co., Ltd (OTCPK: LSBCF; OTCPK: LSBWF) announced today that its shareholders have approved the merger agreement with Oceanpine Skyline Inc., marking a significant step toward taking the company private. At an extraordinary general meeting held on June 19, 2026, approximately 86.2% of votes cast were in favor of the merger, which was initially announced on November 4, 2025, and subsequently amended on April 29, 2026.
The merger will see Oceanpine Merger Sub Inc., a wholly owned subsidiary of Oceanpine Skyline Inc., merge with and into LakeShore Biopharma, with the latter continuing as the surviving entity and becoming a wholly owned subsidiary of Parent. Following the merger, LakeShore Biopharma's shares and warrants will cease to be listed on any public market, including the OTC Pink tier, and will no longer be registered under Section 12 of the Securities Exchange Act of 1934.
The approval came from a high turnout, with 92.3% of the company's total outstanding ordinary shares voting in person or by proxy. The merger is subject to customary closing conditions, and the company is working toward completing the transaction in due course. This move is expected to provide LakeShore Biopharma with greater flexibility to execute its long-term strategic plans without the pressures of public market reporting and compliance.
LakeShore Biopharma, previously known as YS Biopharma, specializes in discovering, developing, manufacturing, and delivering vaccines and therapeutic biologics for infectious diseases and cancer. The company has developed a proprietary PIKA® immunomodulating technology platform and targets diseases such as Rabies, Hepatitis B, and Influenza. With operations in China, Singapore, and the Philippines, the company is led by a management team combining local expertise and global experience.
The forward-looking statements in the press release highlight risks and uncertainties that could affect the merger's completion, including financing availability and satisfaction of closing conditions. For more information, visit https://investors.lakeshorebio.com/. The original press release is available at www.newmediawire.com.
