LakeShore Biopharma Announces Receipt of a Revised Preliminary Non-Binding Proposal to Acquire the Company and Formation of Special Committee

Revised Acquisition Proposal: LakeShore Biopharma received a revised non-binding proposal from a consortium led by Oceanpine Capital to acquire all outstanding ordinary shares for $0.86 each, unchanged from the original offer.

Consortium Ownership: The consortium currently owns approximately 52.1% of LakeShore Biopharma's shares and has agreed to vote in favor of the acquisition while not supporting any competing bids.

Formation of Special Committee: The company's board has formed a special committee of independent directors to evaluate the revised proposal and make recommendations regarding the potential transaction.

Cautionary Note: LakeShore Biopharma cautions shareholders that no decisions have been made regarding the proposal, and there is no guarantee that a definitive agreement will be reached or executed.