LakeShore Biopharma Co., Ltd (OTCPK: LSBCF; OTC PK: LSBWF) announced on June 24, 2026, the completion of its going-private transaction via a merger with Oceanpine Merger Sub Inc., a wholly owned subsidiary of Oceanpine Skyline Inc. The merger, approved by shareholders on June 19, 2026, results in LakeShore Biopharma becoming a wholly owned subsidiary of Parent and ceasing to be a publicly traded company.
Under the terms of the merger agreement, dated November 4, 2025, and amended on April 29, 2026, each ordinary share (excluding certain shares) was canceled and converted into the right to receive US$0.066 in cash per share, without interest. Excluded shares were canceled without payment. The company will file a Form 15 with the SEC to suspend its reporting obligations under the Securities Exchange Act of 1934, effectively ending its requirement to file reports such as Form 20-F and Form 6-K.
LakeShore Biopharma has also notified FINRA of the merger, and its trading symbols are expected to be removed from the OTC Pink tier. The company warns that any trades after the merger's completion but before removal by FINRA will be invalid, as the underlying securities no longer exist. Shareholders will receive a letter of transmittal to exchange their shares for the merger consideration.
The going-private transaction marks a significant shift for LakeShore Biopharma, formerly known as YS Biopharma, which focuses on developing vaccines and therapeutic biologics for infectious diseases and cancer using its proprietary PIKA® immunomodulating technology platform. The company operates in China, Singapore, and the Philippines. Financial advisor Kroll, LLC and legal counsel Gibson, Dunn & Crutcher LLP advised the Special Committee of independent directors, while White & Case LLP represented the buyer group.
This move allows LakeShore Biopharma to operate privately, potentially reducing regulatory costs and enabling longer-term strategic planning without quarterly earnings pressures. For more information, visit https://investors.lakeshorebio.com/.
