LakeShore Biopharma Shareholders Approve Go-Private Merger Agreement
LSBCF has more than doubled off its 52-week low of $0.028.
Summary
LakeShore Biopharma shareholders have approved the company's going-private merger agreement, with approximately 86.2% of votes cast at today's Extraordinary General Meeting in favor. This follows the EGM scheduled for June 19th, as announced in a May 28th 6-K filing. The approval is a critical step towards the company becoming privately held, which will result in its shares no longer being listed on public markets. The amended merger agreement, detailed in previous SEC filings, set the per-share consideration for unaffiliated shareholders at $0.07. Completion of the merger remains subject to other conditions.
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.