Forager’s 120% Premium for Quipt Would Set M&A Benchmark; Board’s Inaction Erodes Shareholder IRR

BIRMINGHAM, Ala., Sept. 10, 2025 (GLOBE NEWSWIRE) -- Forager Capital Management (“Forager”), one of the largest shareholders of Quipt Home Medical Corp. (“Quipt”) (NASDAQ: QIPT; TSX: QIPT), with beneficial ownership of 9.7% of the outstanding shares, issued the following statement:

“On May 17, 2025 — nearly sixteen weeks ago — Forager submitted an offer to acquire Quipt for $3.10 per share in cash (the “May Offer”). Had Quipt’s Board constructively engaged, the transaction could have been completed by now under the timeline outlined in the May Offer. Shareholders would have locked in a 120% return in under six months — a gain that could have already been redeployed into new opportunities. Every day the Board delays further reduces the IRR for shareholders, a key metric by which performance is judged.

For context, Houlihan Lokey reported that take-private transactions in 2024 saw an average premium of 37.5%, with a peak premium of 106%.¹ Forager’s offer — a 120% premium to Quipt’s unaffected share price prior to the May Offer — would exceed every transaction in the report and is more than three times the average.

We remain committed to pursuing a transaction that delivers immediate and compelling value to all Quipt shareholders. We reiterate our willingness to improve our offer upon constructive engagement from the Board.”

Contact:

Johnny Wilhelm
Partner, Forager Capital Management, LLC
205-383-4763
info@foragercap.com

¹ Source: Houlihan Lokey’s 2024 Going Private Transactions Study published in May 2025.

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