LakeShore Biopharma Completes Going Private Transaction, Delists from OTC Markets

LakeShore Biopharma Co., Ltd, a global biopharmaceutical company focused on vaccines and therapeutic biologics for infectious diseases and cancer, announced on June 24, 2026, the completion of its going private transaction. The merger with Oceanpine Merger Sub Inc., a wholly owned subsidiary of Oceanpine Skyline Inc., was finalized pursuant to the Agreement and Plan of Merger dated November 4, 2025, as amended on April 29, 2026. As a result, LakeShore Biopharma became a wholly owned subsidiary of Oceanpine Skyline Inc. and will cease to be a publicly traded company.

Under the terms of the merger agreement, approved by shareholders at an extraordinary general meeting on June 19, 2026, each ordinary share of the company (excluding Excluded Shares 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. Registered shareholders entitled to the merger consideration will receive a letter of transmittal and instructions on how to surrender their shares for payment. The company cautions shareholders to wait for the letter before surrendering shares.

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. This will immediately suspend its obligation to file reports such as Form 20-F and Form 6-K, and reporting will cease once deregistration becomes effective. In connection with the merger, LakeShore Biopharma filed an Issuer Company-Related Action Notification Form with FINRA, which is expected to remove the company's trading symbols (OTCPK: LSBCF and OTC PK: LSBWF) 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 no longer exist. LakeShore Biopharma will not be responsible for losses from such trades.

Kroll, LLC served as financial advisor to the Special Committee of independent directors, 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 acted as U.S. legal counsel to the buyer group. The completion of this going private transaction marks a significant shift for LakeShore Biopharma, which previously operated as YS Biopharma and has a proprietary PIKA® immunomodulating technology platform targeting Rabies, Hepatitis B, Influenza, and other viruses. The company operates in China, Singapore, and the Philippines.

For more information about LakeShore Biopharma, visit https://investors.lakeshorebio.com/. This press release contains forward-looking statements subject to risks and uncertainties, including the expected benefits and costs of the merger, potential legal proceedings, and the timing of FINRA's removal of trading symbols. The company undertakes no obligation to update these statements except as required by law.