LakeShore Biopharma Co., Ltd (OTCPK: LSBCF; OTCPK: LSBWF) announced today that its shareholders have voted to approve the merger agreement that will result in the company becoming privately held. At an extraordinary general meeting held on June 19, 2026, approximately 92.3% of the company's total outstanding ordinary shares voted, with about 86.2% of votes cast in favor of the proposal.
The merger agreement, originally dated November 4, 2025, and amended on April 29, 2026, involves Oceanpine Skyline Inc. as the parent company and Oceanpine Merger Sub Inc. as a wholly owned subsidiary. Under the terms, 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 plan of merger will be filed with the Registrar of Companies of the Cayman Islands.
Completion of the merger is subject to satisfaction or waiver of conditions outlined 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 of the OTC Markets, and will cease to be registered under Section 12 of the Securities Exchange Act of 1934. This move marks a significant transition for the company, which has been publicly traded.
LakeShore Biopharma, previously known as YS Biopharma, is a global biopharmaceutical company focused on discovering, developing, manufacturing, and delivering vaccines and therapeutic biologics for infectious diseases and cancer. It has developed a proprietary PIKA immunomodulating technology platform and targets diseases such as rabies, hepatitis B, influenza, and other viral infections. The company operates in China, Singapore, and the Philippines.
The decision to go private could have implications for the company's strategy and operations. As a private entity, LakeShore Biopharma may have more flexibility in executing its long-term plans without the pressures of quarterly earnings reports and public market scrutiny. This could enable the company to focus on its pipeline and research initiatives, potentially accelerating development of its vaccine and biologic candidates.
For investors, the merger means that shares of LakeShore Biopharma will no longer be tradable on public exchanges. Shareholders who voted in favor of the deal will receive consideration as per the merger terms. The company's warrants will also be delisted. The transition underscores the challenges faced by smaller biopharma companies in public markets, where maintaining listing standards and shareholder support can be demanding.
The merger is expected to close in due course, pending the fulfillment of remaining conditions. The company has indicated it will work with other parties to the agreement to finalize the process. Forward-looking statements in the press release caution that actual results may differ due to risks, including the possibility that the merger may not occur if events lead to termination of the agreement, lack of financing, or failure to satisfy closing conditions.
For more information, visit https://investors.lakeshorebio.com/.
