LakeShore Biopharma Co., Ltd, a global biopharmaceutical company specializing in vaccines and therapeutic biologics for infectious diseases and cancer, announced today the completion of its going private transaction. The merger with Oceanpine Merger Sub Inc., a wholly owned subsidiary of Oceanpine Skyline Inc., was finalized following shareholder approval at an extraordinary general meeting on June 19, 2026. As a result, LakeShore Biopharma has become a wholly owned subsidiary of Oceanpine Skyline Inc. and will cease 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 of LakeShore Biopharma (other than excluded and dissenting shares) was cancelled and converted into the right to receive US$0.066 in cash per share, without interest and subject to applicable withholding taxes. Shareholders are instructed to await a letter of transmittal from the paying agent to surrender their shares and receive the merger consideration.
The company 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 (SEC). This will immediately suspend its requirement to file reports such as Form 20-F and Form 6-K, with full deregistration to follow. In conjunction with the merger, LakeShore Biopharma has filed a notification with FINRA to remove its trading symbols from the OTC Pink tier. The company warns that any trades after the merger's consummation but before FINRA's removal will be invalid, as the underlying securities are no longer outstanding.
This move allows LakeShore Biopharma to operate as a private entity, potentially reducing regulatory burdens and enabling a sharper focus on its proprietary PIKA® immunomodulating technology platform and pipeline targeting rabies, hepatitis B, influenza, and other viral infections. The company operates in China, Singapore, and the Philippines, led by a management team with significant local and global biopharmaceutical experience.
The special committee of the board of directors was advised by Kroll, LLC as financial advisor, with Gibson, Dunn & Crutcher LLP and Maples and Calder (Hong Kong) LLP serving as U.S. and Cayman Islands legal counsel, respectively. White & Case LLP acted as U.S. legal counsel to the buyer group. For more information, visit https://investors.lakeshorebio.com/.
