LakeShore Biopharma Shareholders Approve Merger, Paving Way for Going Private

LakeShore Biopharma Co., Ltd (OTCPK: LSBCF; OTCPK: LSBWF) announced today that its shareholders voted in favor of the proposed merger agreement at an extraordinary general meeting. The approval, with 86.2% of votes cast in support, moves the company closer to becoming a privately held entity and delisting its shares and warrants from public markets.

The merger agreement, originally dated November 4, 2025, and amended on April 29, 2026, involves the company merging with a subsidiary of Oceanpine Skyline Inc. Upon completion, LakeShore Biopharma will become a wholly owned subsidiary of Oceanpine Skyline Inc. The company's shares and warrants will no longer be quoted on the OTC Pink tier, and will cease to be registered under the Securities Exchange Act of 1934.

Approximately 92.3% of total outstanding ordinary shares were voted at the EGM, indicating strong shareholder engagement. The merger is still subject to customary closing conditions, but the company expressed commitment to completing the transaction in due course.

LakeShore Biopharma, previously known as YS Biopharma, focuses on developing vaccines and therapeutic biologics for infectious diseases and cancer. Its proprietary PIKA® immunomodulating technology platform targets Rabies, Hepatitis B, Influenza, and other viruses. The company operates in China, Singapore, and the Philippines. More information is available at https://investors.lakeshorebio.com/.

The transition to a private company may allow LakeShore Biopharma to focus on long-term strategic goals without the pressures of public market reporting. This move could facilitate research and development efforts, particularly in advancing its vaccine pipeline. The company's forward-looking statements highlight risks and uncertainties, including the possibility that the merger may not occur as planned or that financing may not be available. Other risks are detailed in filings with the U.S. Securities and Exchange Commission.

The approval marks a significant milestone for LakeShore Biopharma, as it navigates a path toward privatization. The company's management team, combining local expertise and global experience, will continue to lead operations across its markets. The delisting from OTC markets represents a strategic shift, potentially enabling more agile decision-making and resource allocation.