Quipt holder/suitor Forager highlights premium in offer

Mr. Johnny Wilhelm of Forager reports FORAGER'S 120% PREMIUM FOR QUIPT WOULD SET M&A BENCHMARK; BOARD'S INACTION ERODES SHAREHOLDER IRR Forager Capital Management, one of the largest shareholders of Quipt Home Medical Corp., with beneficial ownership of 9.7 per cent of the outstanding shares, issued the following statement: "On May 17, 2025 -- nearly 16 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-per-cent 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 per cent, with a peak premium of 106 per cent. Forager's offer -- a 120-per-cent 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."