LakeShore Biopharma Co., Ltd, a global biopharmaceutical company focused on vaccines and therapeutic biologics for infectious diseases and cancer, announced the completion of its going-private transaction on June 24, 2026. The merger with Oceanpine Skyline Inc., through its wholly owned subsidiary Oceanpine Merger Sub Inc., was finalized after shareholder approval at an extraordinary general meeting on June 19, 2026. As a result, LakeShore Biopharma became a wholly owned subsidiary of Oceanpine Skyline Inc. and will cease to be a publicly traded company.
Under the terms of the Merger Agreement, which was amended on April 29, 2026, each ordinary share of the company (excluding certain excluded and dissenting shares) was cancelled 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 with instructions on how to surrender their shares for payment. The company advised shareholders to wait for the letter before surrendering shares.
The company intends 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 will immediately suspend its obligation to file reports such as Form 20-F and Form 6-K, with reporting ceasing entirely once deregistration becomes effective. Additionally, LakeShore Biopharma has filed an Issuer Company-Related Action Notification Form with FINRA, as required by FINRA Rule 6490, to remove its trading symbols from the OTC Pink tier of the OTC Markets. The company cautioned that any trades executed after the merger's consummation but before FINRA's removal of the symbols would be invalid, as the underlying securities no longer exist.
The completion of this going-private transaction is significant for LakeShore Biopharma as it allows the company to operate without the pressures and regulatory burdens of public markets. This strategic move may enable management to focus on long-term research and development initiatives, particularly its proprietary PIKA® immunomodulating technology platform, which targets rabies, hepatitis B, influenza, and other viral infections. The company, previously known as YS Biopharma, operates in China, Singapore, and the Philippines, and is led by a management team with extensive local and global biopharmaceutical expertise.
The merger was advised by Kroll, LLC as financial advisor to a special committee of independent directors, with Gibson, Dunn & Crutcher LLP serving as U.S. legal counsel and Maples and Calder (Hong Kong) LLP as Cayman Islands legal counsel. White & Case LLP acted as U.S. legal counsel to the buyer group. The completion of this transaction marks a pivotal moment for LakeShore Biopharma as it transitions to a private entity, aiming to accelerate its mission of delivering new generations of vaccines and therapeutic biologics for infectious diseases and cancer.
