LakeShore Biopharma Co., Ltd (OTCPK: LSBCF; OTCPK: LSBWF) announced the completion of its going-private transaction, effective June 24, 2026, following shareholder approval and fulfillment of the merger agreement conditions. The company, a global biopharmaceutical firm focused on vaccines and therapeutics for infectious diseases and cancer, will now operate as a wholly owned subsidiary of Oceanpine Skyline Inc. and cease to be a publicly traded company.
The merger, initially announced on November 4, 2025, and amended on April 29, 2026, involved Oceanpine Merger Sub Inc. merging with LakeShore. At the effective time, each ordinary share (excluding certain shares) was cancelled and converted into the right to receive $0.066 in cash, without interest. Shareholders entitled to the merger consideration will receive a letter of transmittal from the paying agent with instructions to surrender their shares.
As part of the delisting process, LakeShore 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 action will immediately suspend the company's obligation to file reports such as Form 20-F and Form 6-K, with deregistration becoming effective subsequently. The company has also filed with the Financial Industry Regulatory Authority (FINRA) to remove its trading symbols from the OTC Pink tier. However, removal may take one or more trading days after the merger consummation. Any trades after the merger but before removal will be invalid, as the underlying securities no longer exist.
Kroll, LLC served as financial advisor to a special committee of independent directors, with Gibson, Dunn & Crutcher LLP and Maples and Calder (Hong Kong) LLP as legal counsel. White & Case LLP advised the buyer group. The company emphasizes that forward-looking statements involve risks, including uncertainties about the merger's benefits and potential legal proceedings.
LakeShore Biopharma, formerly YS Biopharma, operates in China, Singapore, and the Philippines, leveraging its proprietary PIKA® immunomodulating technology platform. For more information, visit https://investors.lakeshorebio.com/. The original press release is available on www.newmediawire.com.
