LakeShore Biopharma Co., Ltd (OTCPK: LSBCF; OTCPK: LSBWF) announced today that its shareholders have approved the previously disclosed merger agreement with Oceanpine Skyline Inc. and its subsidiary Oceanpine Merger Sub Inc. The approval came during an extraordinary general meeting of shareholders held on June 19, 2026, marking a significant step toward the company's transition to a privately held entity.
According to the company's press release, approximately 92.3% of the total outstanding ordinary shares were voted at the meeting, with around 86.2% of those votes cast in favor of the merger. The merger agreement, originally dated November 4, 2025, was amended on April 29, 2026, and outlines the terms under which Merger Sub will merge with and into LakeShore Biopharma, with the company continuing as the surviving entity and becoming a wholly owned subsidiary of Parent.
The completion of the merger remains subject to the satisfaction or waiver of conditions specified in the agreement. Upon consummation, LakeShore Biopharma's shares and warrants will no longer be listed on any public market, including the OTC Pink tier, and will cease to be registered under the Securities Exchange Act of 1934. This move allows the company to operate with greater flexibility away from public market scrutiny, focusing on its long-term strategic goals.
LakeShore Biopharma, previously known as YS Biopharma, is a global biopharmaceutical company specializing in vaccines and therapeutic biologics for infectious diseases and cancer. Its proprietary PIKA® immunomodulating technology platform underpins a range of preventive and therapeutic products targeting Rabies, Hepatitis B, Influenza, and other viral infections. The company operates in China, Singapore, and the Philippines, combining local expertise with global biopharmaceutical experience.
The approval of the merger is a critical milestone for LakeShore Biopharma, as it facilitates a transition that could accelerate its business plans and development without the pressures of quarterly earnings reports. The company's forward-looking statements caution that actual results may differ materially from expectations due to risks such as potential termination of the merger agreement, financing availability, and other conditions discussed in filings with the U.S. Securities and Exchange Commission. For more details, visit https://investors.lakeshorebio.com/.
The merger underscores a trend of biopharmaceutical companies seeking private ownership to streamline operations and focus on long-term innovation. As LakeShore Biopharma works towards closing the transaction, stakeholders will watch for updates on the remaining conditions and the eventual delisting of its securities.
