LakeShore Biopharma Co., Ltd (OTCPK: LSBCF; OTCPK: LSBWF) announced today that its shareholders have approved the proposed merger agreement with Oceanpine Skyline Inc. and its subsidiary, Oceanpine Merger Sub Inc., during an extraordinary general meeting held on June 19, 2026. The merger, if completed, will result in LakeShore Biopharma becoming a privately held company, with its shares and warrants ceasing to be quoted on public markets, including the OTC Pink tier of the OTC Markets.
According to the company's press release, approximately 92.3% of the total outstanding ordinary shares were voted at the meeting, with about 86.2% of the votes cast in favor of the merger agreement, the plan of merger, and the transactions contemplated. The merger agreement was originally dated November 4, 2025, and was amended on April 29, 2026. Under the terms, Merger Sub will merge into LakeShore Biopharma, with the company continuing as a wholly owned subsidiary of Parent.
The approval marks a critical milestone for LakeShore Biopharma, a global biopharmaceutical company focused on developing vaccines and therapeutic biologics for infectious diseases and cancer. The company, previously known as YS Biopharma, has developed the proprietary PIKA® immunomodulating technology platform and targets diseases such as rabies, hepatitis B, influenza, and other viral infections. It operates in China, Singapore, and the Philippines.
The merger's completion remains subject to the satisfaction or waiver of conditions outlined in the merger agreement. The company stated it will work with the other parties to finalize the transaction. If consummated, the merger will lead to LakeShore Biopharma's shares and warrants being deregistered under Section 12 of the Securities Exchange Act of 1934, ending their public trading status.
For investors, this development signals a shift in the company's governance and ownership structure, potentially affecting liquidity and transparency. The move to go private could allow LakeShore Biopharma to focus on long-term strategies without the pressures of quarterly earnings reports, but it also removes the opportunity for public investors to trade shares on open markets. The company's forward-looking statements caution that various risks could affect the merger's outcome, including financing availability and closing conditions. More details are available in the company's filings with the U.S. Securities and Exchange Commission, as well as the Schedule 13E-3 and proxy statement filed by the company.
LakeShore Biopharma's leadership, combining local and global biopharmaceutical experience, will guide the company through this transition. The merger represents a significant corporate event that could reshape the company's future direction in the competitive vaccine and biologic landscape.
For more information, visit https://investors.lakeshorebio.com/.
