M&A - Forager Fund, L.P.

Form Type: SCHEDULE 13D/A

Filing Date: 2025-05-19

Corporate Action: Acquisition

Type: Update

Accession Number: 000165495425005888

Filing Summary: On May 17, 2025, Forager Capital Management submitted a non-binding offer to acquire all outstanding shares of Quipt Home Medical Corp. for $3.10 per share, which represents a 120% premium over the last closing price of $1.41 prior to the offer. This offer is positioned as a response to Quipt's ongoing challenges with organic growth and complex financial reporting. Forager Fund contends that the expenses associated with Quipt's public company status are burdensome and believes that the offer presents a clear path for shareholder value realization. The valuation was derived from market-based multiples and a discounted cash flow analysis, suggesting significant attractiveness compared to peers and past transactions. The offer remains non-binding and is subject to various conditions, including due diligence and board approval. This amendment to Schedule 13D does not constitute an official offer to purchase securities or solicit any offers to sell.