Quipt Home Medical shareholder Forager Capital Management proposes $3.10 per share acquisition 

WILDER, Ky. – Quipt Home Medical shareholder Forager Capital Management (FCM) has submitted an updated and immediately actionable acquisition proposal to acquire all issued and outstanding common shares of the company for $3.10 per share in cash, according to a recent Securities and Exchange Commission (SEC) filing. 

FCM says the proposed $3.10 all-cash offer represents a significant premium over Quipt’s recent trading prices, including a 120% premium over the $1.41 unaffected closing price on May 19, 2025, the last trading day before FCM’s May 17, 2025, letter of intent became public. 

Transaction details: 

• Funding: An affiliate of FCM will fund the transaction using cash on hand, requiring no financing from Quipt or its shareholders. 
• Due diligence: The proposal is not subject to any due diligence conditions, as FCM has already evaluated the necessary information. 
• Go-shop & deal protections: 
  • A 30-day go-shop period post-signing of the definitive agreement 
  • A no-shop/non-solicitation period following the go-shop 
  • Matching rights for FCM on competing proposals 
  • A break-up fee of 3.5% during the go-shop period and 5.5% during the no-shop period 

While the acquisition proposal is non-binding to comply with Canadian securities laws, FCM says it is ready to enter into definitive, immediately actionable documentation based on the proposed terms. 

“FCM remains fully committed to working with the board to finalize a transaction that maximizes value for all stakeholders,” it states. “The proposed transaction is of the highest priority for FCM, and its legal and financial advisors are prepared to proceed as quickly as possible, with the ability to potentially close within 16 weeks.” 

Second time’s a charm: Earlier this year, Quipt Home Medical announced it had received an unsolicited non-binding and conditional and indicative proposal from Forager Capital Management to acquire 100% of the company’s issued and outstanding common shares for $3.10 per common share.