LakeShore Biopharma Co., Ltd (OTCPK: LSBCF; OTC PK: LSBWF) announced today the completion of its going-private transaction, effective immediately. The merger, approved by shareholders on June 19, 2026, sees the company become a wholly owned subsidiary of Oceanpine Skyline Inc., ending its status as a publicly traded entity.
Under the terms of the merger agreement, each ordinary share of LakeShore Biopharma (excluding certain shares held by the parent and dissenting shareholders) was canceled and converted into the right to receive US$0.066 in cash, without interest. The company expects to file a Form 15 with the U.S. Securities and Exchange Commission (SEC) to suspend its reporting obligations under the Securities Exchange Act of 1934. This will immediately halt the requirement to file reports such as Form 20-F and Form 6-K, with full deregistration pending effectiveness.
The merger was facilitated by a Special Committee of independent directors, advised by Kroll, LLC as financial advisor, and Gibson, Dunn & Crutcher LLP as U.S. legal counsel, along with Maples and Calder (Hong Kong) LLP for Cayman Islands law. The buyer group was represented by White & Case LLP. The transaction was previously announced on November 4, 2025, and amended on April 29, 2026.
Following the merger, LakeShore Biopharma has 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. The company warns that any trades after the merger's effective time may be invalid, as the underlying securities are no longer outstanding. Shareholders are advised to await a letter of transmittal from the paying agent before surrendering their shares for payment.
LakeShore Biopharma, formerly YS Biopharma, focuses on developing vaccines and therapeutic biologics for infectious diseases and cancer using its proprietary PIKA® immunomodulating technology. The company operates in China, Singapore, and the Philippines. For more information, visit https://investors.lakeshorebio.com/.
The completion of this going-private transaction marks a significant shift for LakeShore Biopharma, transitioning from a public company to a private entity. This move allows the company to operate without the scrutiny and reporting requirements of public markets, potentially enabling longer-term strategic decisions without quarterly earnings pressures. However, it also limits the liquidity for former shareholders and may affect the company's visibility in the investment community.
