08:34 AM EDT, 08/27/2025 (MT Newswires) -- Quipt Home Medical ( QIPT ) confirmed Wednesday that it has received an unsolicited, non-binding and indicative proposal from Forager Capital Management to acquire the company for $3.10 per share.

Quipt noted that the current offer is 26% lower than a previous offer made by Forager Capital in January for $3.90 per share.

Since the board rejected the January offer, Quipt said it is "unclear how FCM thinks the August Proposal should be taken seriously."

Forager Capital has a 9.7% investment stake in Quipt Medical, the investment firm said in a statement on Monday, adding that it is "prepared to improve its offer if the Board engages in constructive discussions."

Quipt Home Medical ( QIPT ) shares were down 3.1% in premarket trading.