Lakeshore SPAC merges with CPRO Electronics for $185M stock deal

On May 22, 2026, Lakeshore Acquisition III Corp., a Cayman Islands exempted company (the “ Company ” or the “ Parent ”), entered into a merger agreement (as it may be amended, supplemented or otherwise modified from time to time, the “ Merger Agreement ”) with (i) CPRO Electronics Holding Limited, a British Virgin Islands business company (“ CPRO ”); (ii) CPRO Electronics Co., Ltd., a South Korean company, which will become a wholly-owned subsidiary of CPRO prior to closing of the transactions contemplated in the Merger Agreement (“ CPRO Korea ”); (iii) CPRO Holding Limited, a Cayman Islands exempted company and wholly-owned subsidiary of the Parent (the “ Purchaser ”); and (iv) LCCC Merger Sub Inc., a British Virgin Islands business company and wholly-owned subsidiary of the Parent (“ Merger Sub ”).