LakeShore Biopharma Co., Ltd (OTCPK: LSBCF; OTCPK: LSBWF) announced on June 24, 2026, the completion of its going-private transaction through a merger with Oceanpine Merger Sub Inc., a wholly owned subsidiary of Oceanpine Skyline Inc. The merger, approved by shareholders on June 19, 2026, resulted in LakeShore Biopharma becoming a wholly owned subsidiary of Oceanpine Skyline Inc. and ceasing to be a publicly traded company. This move marks a significant transition for the global biopharmaceutical company, which focuses on developing vaccines and therapeutic biologics for infectious diseases and cancer.
Under the terms of the Merger Agreement, dated November 4, 2025, and amended on April 29, 2026, each ordinary share of LakeShore Biopharma (other than excluded 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. Shareholders entitled to the merger consideration will receive a letter of transmittal from the paying agent, Kroll, LLC, which served as financial advisor to the Special Committee of independent directors. The company has engaged Gibson, Dunn & Crutcher LLP as U.S. legal counsel and Maples and Calder (Hong Kong) LLP as Cayman Islands legal counsel for the Special Committee, while White & Case LLP represents the buyer group.
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 immediately suspend the company's obligation to file reports such as Form 20-F and Form 6-K, with full deregistration becoming effective later. Additionally, the company has filed an Issuer Company-Related Action Notification Form with FINRA to remove its trading symbols from the OTC Pink tier. The company warns that any trades after the merger's consummation but before FINRA's removal of the symbols will be invalid, as the underlying securities no longer exist. The company disclaims responsibility for losses from such trades.
This going-private transaction allows LakeShore Biopharma to operate without the pressures of public market scrutiny, potentially enabling longer-term strategic investments in its proprietary PIKA® immunomodulating technology platform. The company, previously known as YS Biopharma, operates in China, Singapore, and the Philippines, and is led by a management team with global biopharmaceutical experience. The completion of this merger underscores the company's commitment to advancing its pipeline of preventive and therapeutic biologics targeting Rabies, Hepatitis B, Influenza, and other viral infections.
For more information about LakeShore Biopharma, visit https://investors.lakeshorebio.com/.
