LakeShore Biopharma Co., Ltd (OTCPK: LSBCF; OTC PK: LSBWF), a global biopharmaceutical company focused on vaccines and therapeutic biologics, announced today the completion of its going-private transaction. The merger, which was approved by shareholders on June 19, 2026, resulted in the company becoming a wholly owned subsidiary of Oceanpine Skyline Inc. and ceasing to be a publicly traded entity.
Under the terms of the merger agreement, 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, without interest and net of applicable withholding taxes. The company expects to suspend its reporting obligations under the Securities Exchange Act of 1934 by promptly filing a Form 15 with the U.S. Securities and Exchange Commission (SEC). This action will immediately suspend the company's obligation to file certain reports, including Form 20-F and Form 6-K, with the SEC.
The company has also filed an Issuer Company-Related Action Notification Form with the Financial Industry Regulatory Authority (FINRA) to remove its trading symbols from the OTC Pink tier of the OTC Markets. However, the removal may not be completed until one or more trading days after the merger's consummation. LakeShore Biopharma cautioned that any trades occurring after the merger but before FINRA removes the symbols will be invalid, as the underlying securities will no longer be outstanding. The company stated it will not be responsible for losses incurred from such trades.
Financial and legal advisors for the transaction included Kroll, LLC, Gibson, Dunn & Crutcher LLP, Maples and Calder (Hong Kong) LLP for the special committee, and White & Case LLP for the buyer group. LakeShore Biopharma, previously known as YS Biopharma, is known for its proprietary PIKA® immunomodulating technology platform and develops preventive and therapeutic biologics targeting rabies, hepatitis B, influenza, and other viral infections. The company operates in China, Singapore, and the Philippines. More information about LakeShore Biopharma can be found at https://investors.lakeshorebio.com/.
The completion of this going-private transaction marks a significant corporate shift, allowing LakeShore Biopharma to operate without the regulatory and reporting burdens of a public company. This move may enable the company to focus on long-term strategic goals, including the development of its vaccine pipeline, without the pressure of quarterly earnings expectations. The implications for shareholders include receiving the merger consideration and no longer having publicly tradable shares. The company's forward-looking statements highlight uncertainties regarding the expected benefits and costs of the merger, as well as potential legal proceedings. As LakeShore Biopharma transitions to private ownership, its ability to innovate and bring new biologics to market will be closely watched by industry observers.
