LakeShore Biopharma Receives Proposal Letter From Oceanpine Capital
(RTTNews) - LakeShore Biopharma (LSB) announced that its board has received a preliminary non-binding proposal letter from Oceanpine Investment Fund II LP and Oceanpine Capital Inc. to acquire all of the outstanding ordinary shares, par value $0.0002 per share, of the company that are not currently owned by Oceanpine Capital in an all-cash transaction for $0.86 per share.
The Board said it will carefully review and evaluate the proposal to determine the course of action that it believes is in the best interests of the company and its shareholders.
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