LakeShore Biopharma Co., Ltd, a global biopharmaceutical company focused on vaccines and therapeutic biologics, announced today the completion of its going private merger with Oceanpine Skyline Inc. The merger, which was approved by shareholders at an extraordinary general meeting on June 19, 2026, results in the company becoming a wholly owned subsidiary of Oceanpine Skyline Inc. and will no longer be publicly traded.
Under the terms of the merger agreement, each ordinary share of LakeShore Biopharma issued and outstanding immediately before the merger (excluding certain specified shares) was cancelled and converted into the right to receive $0.066 in cash per share, without interest and net of any applicable withholding taxes. The company’s shareholders will receive a letter of transmittal from the paying agent with instructions on how to surrender their shares in exchange for the merger consideration.
With the completion of the merger, LakeShore Biopharma 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. This will 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 have its trading symbols removed from the OTC Pink tier of the OTC Markets. However, FINRA may not complete the removal until one or more trading days after the merger's consummation. The company warned that any trades made after the merger and before the removal of the trading symbols will be invalid, as the underlying securities will no longer be outstanding.
The merger marks a significant shift for LakeShore Biopharma, which previously operated under the name YS Biopharma and developed a proprietary PIKA® immunomodulating technology platform for vaccines targeting rabies, hepatitis B, influenza, and other viral infections. The company operates in China, Singapore, and the Philippines. The decision to go private was advised by a special committee of independent directors, with Kroll, LLC serving as financial advisor and Gibson, Dunn & Crutcher LLP as U.S. legal counsel. White & Case LLP represented the buyer group.
For investors, the completion of this transaction means that LakeShore Biopharma will no longer be available for public trading, and shareholders must follow the procedures outlined in the letter of transmittal to receive their cash consideration. The company's move to go private could provide more operational flexibility away from public market pressures, but it also reduces transparency and liquidity for former shareholders. The company has not disclosed future plans under its new private structure. More information about LakeShore Biopharma can be found at https://investors.lakeshorebio.com/.
