LakeShore Biopharma Co., Ltd (OTCPK: LSBCF; OTCPK: LSBWF) has called an extraordinary general meeting of shareholders (EGM) to vote on a proposed merger that would take the company private, the company announced today. The EGM will be held on June 19, 2026, at 1:00 p.m. Beijing time at the company's headquarters in Beijing.
Shareholders will consider and vote on the previously announced Agreement and Plan of Merger dated November 4, 2025, as amended on April 29, 2026. The merger agreement is among LakeShore Biopharma, Oceanpine Skyline Inc. (Parent), and Oceanpine Merger Sub Inc., a wholly owned subsidiary of Parent. If approved, Merger Sub will merge into the company, with LakeShore Biopharma surviving as a wholly owned subsidiary of Parent. The company's ordinary shares and warrants will no longer be quoted on any public market, including the OTC Pink tier of OTC Markets, and will cease to be registered under Section 12 of the Securities Exchange Act of 1934.
The company's board of directors, acting on the unanimous recommendation of a special committee of independent directors, has authorized the merger and recommends that shareholders vote in favor of the proposal.
Shareholders of record as of 5:00 p.m. Cayman Islands time on May 27, 2026, are entitled to vote at the EGM. Additional details are available in the transaction statement on Schedule 13E-3 and the definitive proxy statement filed with the U.S. Securities and Exchange Commission (SEC), which can be obtained from the SEC's website at http://www.sec.gov. Requests for copies of the proxy statement can be directed to the company's Investor Relations Department.
The merger represents a significant shift for LakeShore Biopharma, a global biopharmaceutical company focused on vaccines and therapeutic biologics for infectious diseases and cancer. The company, previously known as YS Biopharma, has developed a proprietary PIKA immunomodulating technology platform targeting rabies, hepatitis B, influenza, and other viral infections. Operating in China, Singapore, and the Philippines, the company's transition to private ownership could impact its strategic direction, funding, and operational flexibility.
Shareholders are urged to read the proxy statement and related materials carefully, as they contain important information about the merger and the parties involved. Certain directors and executive officers may be deemed participants in the solicitation, with their interests detailed in the filings.
The outcome of the EGM will determine whether LakeShore Biopharma exits public markets, potentially altering its access to capital and public scrutiny while enabling longer-term strategic initiatives away from quarterly earnings pressures.
