LakeShore Biopharma Completes Going-Private Merger, Shareholders to Receive $0.066/Share
Summary
LakeShore Biopharma has completed its going-private merger, becoming a wholly-owned subsidiary of Oceanpine Skyline Inc. Public shareholders will receive $0.066 in cash for each ordinary share. This finalizes a process that saw the merger agreement amended in April, reducing the per-share consideration, and was approved by shareholders on June 19th. The company will now cease to be publicly traded, and its reporting obligations will be suspended upon filing a Form 15 with the SEC. FINRA is expected to remove the company's trading symbols from the OTC Markets.
At the time of this announcement, LSBCF was trading at $0.07 on OTC in the Life Sciences sector, with a market capitalization of approximately $2.8M. The 52-week trading range was $0.03 to $2.80. This news item was assessed with neutral market sentiment and an importance score of 9 out of 10. Source: EQS.