08:05 AM EDT, 08/27/2025 (MT Newswires) -- Quipt Home Medical ( QIPT ) confirmed Wednesday it received the Aug. 25 proposal by Forager Capital Management to acquire the company at US$3.10 per share, compared to a closing price of US$2.62 in US trading yesterday. The stock was up in premarket trading a short time ago, but was unchanged at last look.

According to a Quipt statement, the proposal follows several similar non-binding offers from Forager, but is 26% lower than its January offer to acquire Quipt for US$3.90 per share, which Forager did not publicize.

Quipt's board declined the January proposal, determining that it undervalued the company as it only offered a small premium to the prevailing share price then. "It is therefore unclear how FCM thinks the August Proposal should be taken seriously by the Board or any shareholders of the company," it said.

Forager has a 9.7% stake in Quipt.