LakeShore Biopharma Completes Going Private Merger

Beijing, China - LakeShore Biopharma Co., Ltd (OTCPK: LSBCF; OTCPK: LSBWF), a global biopharmaceutical company, has officially announced the completion of its merger with Oceanpine Merger Sub Inc., a wholly owned subsidiary of Oceanpine Skyline Inc. Following this transaction, LakeShore Biopharma has become a wholly owned subsidiary of the parent company and will cease to be a publicly traded entity.

The transaction, approved by shareholders on June 19, 2026, marks the end of the company's status as a publicly listed firm. Under the terms of the merger agreement, issued and outstanding shares prior to the effective time have been cancelled in exchange for a cash payment of 0.066 USD per share, excluding specific dissenting or excluded shares.

Transaction Details

• Completion: The merger was finalized, transitioning the company into a private entity.
• Shareholder Consideration: Eligible shareholders will receive 0.066 USD per share in cash, net of applicable taxes.
• Market Status: The company is filing a Form 15 with the SEC to suspend reporting obligations and expects to have its trading symbols removed from the OTC Pink tier.
• Advisors: Kroll, LLC served as financial advisor to the Special Committee, with legal counsel provided by Gibson, Dunn & Crutcher LLP and Maples and Calder (Hong Kong) LLP. White & Case LLP advised the buyer group.