12:37 PM EDT, 08/25/2025 (MT Newswires) -- Quipt Home Medical ( QIPT ) is up 24% on last look after Forager Capital Management announced an all-cash acquisition proposal for the company at US$3.10 per share.

Forager's offer represents a 120% premium to Quipt's share price of $1.41 at the close on May 19, the trading day before Forager's previous proposal, also at US$3.10 per share, became public.

According to a statement, the Forager proposal is not contingent on any due diligence or financing conditions and can be executed immediately. The firm is willing to improve its offer if Quipt's board engages in "constructive discussions," it added.

The proposal includes a "go-shop" provision.

Forager has a 9.7% stake in Quipt.

Quipt shares were last seen up $0.74 to $3.71 on the Toronto Stock Exchange.

Price: 3.73, Change: +0.76, Percent Change: +25.59