LakeShore Biopharma Co., Ltd, a global biopharmaceutical company focused on vaccines and biologics for infectious diseases and cancer, announced the completion of its going-private merger with Oceanpine Skyline Inc. The transaction, approved by shareholders on June 19, 2026, sees the company become a wholly owned subsidiary of Parent and cease to be a publicly traded entity.
Under the terms of the merger agreement dated November 4, 2025, and amended on April 29, 2026, each ordinary share of LakeShore Biopharma (excluding certain excluded and dissenting shares) was cancelled and converted into the right to receive $0.066 in cash per share, without interest and net of applicable withholding taxes. The merger was effected through Merger Sub, a wholly owned subsidiary of Parent.
Registered holders of shares immediately prior to the effective time will receive a letter of transmittal from the paying agent, Kroll, LLC, with instructions on how to surrender their shares in exchange for the merger consideration. Payment will be made upon surrender of shares and delivery of required documents.
The company intends to suspend its reporting obligations under the Securities Exchange Act of 1934 by promptly filing a Form 15 with the U.S. Securities and Exchange Commission (SEC). This will immediately suspend its obligation to file certain reports, including Form 20-F and Form 6-K, and will cease once deregistration becomes effective.
LakeShore Biopharma has also filed an Issuer Company-Related Action Notification Form with FINRA, as required by FINRA Rule 6490. FINRA is expected to remove the company's trading symbols from the OTC Pink tier of the OTC Markets, though this may not occur until one or more trading days after the merger's consummation. The company warned that any trades effectuated after the merger but before removal of the trading symbols will be invalid, as the underlying securities will no longer be outstanding. LakeShore Biopharma stated it will not be responsible for losses incurred from trades after the merger's completion.
The decision to go private comes amid a challenging environment for small-cap biotech firms listed on OTC markets, which often face liquidity issues and regulatory burdens. For LakeShore Biopharma, which operates in China, Singapore, and the Philippines, the move may allow greater strategic flexibility away from public market pressures. The company's proprietary PIKA® immunomodulating technology platform targets vaccines for Rabies, Hepatitis B, Influenza, and other viral infections.
The Special Committee of the company's board of directors was advised by Kroll, LLC as financial advisor, with Gibson, Dunn & Crutcher LLP as U.S. legal counsel and Maples and Calder (Hong Kong) LLP as Cayman Islands legal counsel. White & Case LLP served as U.S. legal counsel to the buyer group.
For investors, the completion of this transaction marks the end of LakeShore Biopharma's public trading, with shares no longer available on OTC markets. The company's focus will now be on its pipeline and operations without the disclosure requirements of a public company. More information about LakeShore Biopharma can be found at https://investors.lakeshorebio.com/.
