Forager Capital Management denies its offer was unsolicited and requests that Quipt Home Medical Corp (QIPT) terminate its standstill agreement

Market Cap: $92 million | Quipt Home Medical Corp., through its subsidiaries, engages in the provision of durable and home medical equipment and supplies in the United States.

Forager Capital Management

On June 4, 2025, Forager Capital Management (9.7%) responded to Quipt’s description of its $3.10-per-share offer as unsolicited, clarifying that prior communication with Quipt’s Chairman and terms of their February 2025 agreement supported its actions. Forager expressed concern that the agreement may be interpreted in a way that limits shareholder visibility into potential value-enhancing proposals and requested Quipt to consider terminating the standstill. Source

Philotimo Fund

On January 25, 2025, Philotimo Fund (5%) stated that it notified the company in accordance with the Federal "Universal Proxy Rules," that it intends to nominate Selim Bassoul, Jack Feidor, Garrett Larson, and Edward Smith for election to the Board of Directors at the 2025 Annual Meeting of Shareholders. Source

On March 3, 2025, the Kanen Group (Mr. Kanen, KWM, and Philotimo) (6.9%) signed a Cooperation Agreement with the company, granting them access to quarterly meetings with a non-executive director, contingent on holding at least 3.5% of shares. Philotimo withdrew its proxy solicitation for the 2025 Annual Meeting, and the Kanen Group agreed to vote in line with the Board's recommendations during shareholder meetings.