LakeShore Biopharma Co., Ltd (OTCPK: LSBCF; OTCPK: LSBWF), a global biopharmaceutical company focused on vaccines and therapeutic biologics for infectious diseases and cancer, announced today that it has called an extraordinary general meeting of shareholders (EGM) to vote on a proposed merger that would take the company private. The EGM is scheduled for June 19, 2026, at 1:00 p.m. Beijing time at the company's offices in Beijing, China.
The meeting will consider and vote on authorizing the previously announced Agreement and Plan of Merger dated November 4, 2025, as amended by Amendment No. 1 on April 29, 2026. The merger agreement is among LakeShore Biopharma, Oceanpine Skyline Inc. (Parent), and Oceanpine Merger Sub Inc. (Merger Sub), a wholly owned subsidiary of Parent. If approved, Merger Sub will merge with and into LakeShore Biopharma, with the company surviving as a wholly owned subsidiary of Parent. Consequently, LakeShore Biopharma's ordinary shares and warrants will be delisted from public markets, including the OTC Pink tier of the OTC Markets, and will cease to be registered under the Securities Exchange Act of 1934.
The company's board of directors, acting on the unanimous recommendation of a special committee of independent directors, has authorized the merger and recommends shareholders vote in favor. Shareholders of record as of 5:00 p.m. Cayman Islands time on May 27, 2026, are entitled to vote at the EGM.
This move underscores a growing trend among biopharmaceutical companies opting to go private, often to reduce regulatory burdens and focus on long-term research and development without the pressures of quarterly earnings reports. For LakeShore Biopharma, which operates in China, Singapore, and the Philippines and has developed a proprietary PIKA® immunomodulating technology platform, the transition could enable more strategic flexibility in advancing its pipeline of vaccines and biologics for rabies, hepatitis B, influenza, and other viral infections.
The impact on shareholders is significant: upon completion of the merger, their shares will no longer be publicly traded, and they will receive consideration as outlined in the merger agreement. The company has urged shareholders to review the definitive proxy statement and other materials filed with the U.S. Securities and Exchange Commission (SEC), which provide detailed information about the merger and related matters. These documents are available on the SEC's website at http://www.sec.gov.
Additional information about the EGM and the merger agreement can be found in the transaction statement on Schedule 13E-3 and the definitive proxy statement attached as Exhibit (a)-(1) thereto, as amended. Requests for copies of the proxy statement can be directed to the company's Investor Relations Department.
The company cautions that forward-looking statements in this announcement involve risks and uncertainties, including how shareholders will vote, the possibility of the merger agreement being terminated, competing offers, financing availability, and satisfaction of closing conditions. These factors are discussed in the company's SEC filings.
For investors and industry observers, the outcome of this vote will determine the future structure of LakeShore Biopharma and its ability to execute its strategy as a private entity. The EGM represents a critical juncture for the company and its stakeholders.
