Monster Beverage Corp Stock Price, News & Analysis

Monster Beverage (NASDAQ: MNST) announced the preliminary results of its modified Dutch auction tender offer, which expired on June 5, 2024. Approximately 77.4 million shares were validly tendered, with an additional 41.6 million shares tendered through notice of guaranteed delivery, all at a purchase price of $53.00 per share. Co-CEOs Rodney Sacks and Hilton Schlosberg tendered a total of 958,114 shares. In total, Monster expects to accept 56.6 million shares for payment, representing about 5.4% of shares outstanding as of April 22, 2024. The proration factor is approximately 47.56%. The final number of shares to be purchased will be confirmed after the completion of the guaranteed delivery period. The tender offer's aggregate cost is around $3 billion, excluding fees and expenses. Future share repurchases are possible but subject to market conditions and other factors.

Monster Beverage (NASDAQ: MNST) has announced an amendment to its modified 'Dutch auction' tender offer, aiming to buy back up to $3.0 billion of its outstanding common stock at prices between $53.00 and $60.00 per share. The offer commenced on May 8, 2024, and will expire on June 5, 2024. On May 22, Monster entered into a new $750 million three-year term loan and a $750 million five-year revolving credit facility. The tender offer, initially dependent on securing at least $1 billion in financing, will now use $750 million in debt and $2.25 billion in cash on hand, waiving the original financing condition. The co-CEOs and their related entities intend to tender significant shares, subject to market conditions.

Monster Energy's latest initiative, Monster Energy Cares, features an interview with Matt Dawson, founder of Dawson's Peak. Despite battling compartment syndrome in his legs in his 20s, Dawson has summitted the highest peaks on seven continents and achieved numerous other extreme feats. He attributes his drive to an inner purpose rather than external motivations. Dawson's Peak focuses on inspiring others to find their purpose, supporting various charities, including the Gary Sinise Foundation and Hope for the Warriors. Dawson's commitment to training, even under extreme conditions, underscores his message of persistence and purpose.

On May 15, 2024, Monster Energy employees volunteered at the Orange County Rescue Mission’s Double R Ranch in San Diego. The ranch provides equestrian therapy and a safe environment for veterans, families, and individuals to heal and start anew. A team of 35 employees contributed four hours of intensive labor, engaging in cleaning, painting, and renovation tasks to help prepare buildings for future use. The mission appreciated their efforts, noting the positive impact on the community and the facility.

Monster Energy sponsored the Enlisted Aide of the Year Award event with the Department of Defense, honoring Master Sergeant Michael "Bo" Bogle of the US Army. The ceremony featured Monster Athlete Ambassadors, Rob Gronkowski and Donald Cerrone, with Cowboy receiving a special award. The Army now leads in Enlisted Aide of the Year awards.

Monster Beverage has initiated a modified Dutch auction tender offer to buy up to $3.0 billion of its common stock. The offer allows shareholders to sell shares at a price between $53.00 and $60.00 per share. Monster plans to fund the purchase using cash on hand and borrowings. The tender offer is aimed at providing liquidity to shareholders and involves key executives tendering their shares.

Monster Beverage reported an 11.8% increase in net sales to $1.90 billion in the first quarter of 2024. Gross profit margin improved to 54.1%, with net income rising to $442.0 million. The company plans to repurchase up to $3.0 billion of common stock and commence a tender offer. International sales rose by 19.5% to $744.1 million, with strong performance in the Monster Energy® Drinks, Strategic Brands, and Alcohol Brands segments. Operating expenses and stock-based compensation increased, but net income per diluted share increased by 12.0% to $0.42.