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Quipt Home Medical Corp. ("Quipt" or the "Company") (NASDAQ:QIPT, TSX:QIPT), a U.S. based home medical equipment provider focused on end-to-end respiratory care, acknowledges receipt of another unsolicited, non-binding and indicative proposal dated August 25, 2025 (the "August Proposal") from Forager Capital Management, LLC ("FCM") to acquire all of the Company's issued and outstanding common shares for US$3.10 per share. The August Proposal follows several prior, similarly non-binding offers from FCM, including the US$3.10 offer FCM publicly disclosed on May 19, 2025.
In addition, the repeated offers follow an earlier non-binding offer by FCM in January 2025 to acquire all shares at US$3.90 per share (26% more than they are currently offering) (the "January Proposal"). In addition, although FCM is, and was, a Schedule 13D filer when it submitted its January Proposal, it, for some reason, chose not to comply with U.S. securities laws and publicly report the January Proposal in an amended Schedule 13D.
The Company's board of directors (the "Board") declined the January Proposal after reviewing the complete deal terms presented, determining that it undervalued the Company at that time by only offering a small premium to the then current market price, and that selling the Company at a price that undervalues its current and prospective future would not be in the best interests of the Company and its shareholders. It is therefore unclear how FCM thinks the August Proposal should be taken seriously by the Board or any shareholders of the Company.
