Monster Beverage Corp. Files 8-K Report

TL;DR

Monster Beverage Corp. filed an 8-K on May 2, 2024, updating on financials and operations.

AI Summary

On May 2, 2024, Monster Beverage Corp. filed an 8-K report detailing its financial results and other events. The filing includes information on the company's operations and financial condition, as well as financial statements and exhibits. Specific dollar amounts and dates for these events are not detailed in the provided text.

Why It Matters

This filing provides investors with crucial updates on Monster Beverage Corp.'s financial performance and operational status, impacting investment decisions.

Risk Assessment

Risk Level: low — The filing is a routine disclosure of financial information and does not indicate any immediate or significant risks.

Key Players & Entities

• Monster Beverage Corp. (company) — Registrant
• May 2, 2024 (date) — Date of earliest event reported
• 1 Monster Way, Corona, California 92879 (location) — Principal executive offices address

FAQ

Key Financial Figures

• $3.0 billion — "Dutch Auction" tender offer for up to $3.0 billion in value of shares of its common stock,
• $2.0 billion — und the tender offer with approximately $2.0 billion of cash on hand and approximately $1.0
• $1.0 billion — llion of cash on hand and approximately $1.0 billion in combined borrowings, consisting of a

Filing Documents

• tm2413295d1_8k.htm (8-K) — 30KB
• tm2413295d1_ex99-1.htm (EX-99.1) — 87KB
• tm2413295d1_ex99-1img001.jpg (GRAPHIC) — 15KB
• 0001104659-24-056393.txt ( ) — 322KB
• mnst-20240502.xsd (EX-101.SCH) — 3KB
• mnst-20240502_lab.xml (EX-101.LAB) — 33KB
• mnst-20240502_pre.xml (EX-101.PRE) — 22KB
• tm2413295d1_8k_htm.xml (XML) — 3KB

02. Results of Operations and Financial Condition

Item 2.02. Results of Operations and Financial Condition. On May 2, 2024, Monster Beverage Corporation (the "Company") issued a press release relating to its financial results for the first quarter ended March 31, 2024, a copy of which is furnished as Exhibit 99.1 hereto. The press release did not include certain financial statements, related footnotes and certain other financial information that will be filed with the Securities and Exchange Commission as part of the Company's Quarterly Report on Form 10-Q. On May 2, 2024, the Company will conduct a conference call at 2:00 p.m. Pacific Time. The conference call will be open to all interested investors through a live audio web broadcast via the internet at www.monsterbevcorp.com in the "Events & Presentations" section. For those who are not able to listen to the live broadcast, the call will be archived for approximately one year on the website.

01. Other Events

Item 8.01. Other Events. On May 2, 2024, the Company disclosed the information set forth below. Intention to Commence Tender Offer The Company intends to commence a modified "Dutch Auction" tender offer for up to $3.0 billion in value of shares of its common stock, subject to market conditions, at a specified price range that is yet to be determined. The Company believes that the tender offer represents an efficient mechanism to permit shareholders the opportunity to obtain liquidity without the potential disruption that can result from market sales. The Company expects to fund the tender offer with approximately $2.0 billion of cash on hand and approximately $1.0 billion in combined borrowings, consisting of a new revolving credit facility and a new delayed draw term loan facility, each expected to be consummated prior to the completion of the tender offer. The tender offer will be made outside of the Company's previously authorized repurchase programs and will allow the Company to retain the ability to purchase additional shares through the previously authorized repurchase programs in the future. The Company's Co-CEOs have indicated that they intend to participate in the offer for investment diversification and estate planning purposes. Mr. Sacks' participation, in particular, may provide him some flexibility to consider his own potential options, which may also help the Company continue succession planning for its next phase of leadership. In this regard, after consultation with the Company's Board of Directors (the "Board"), Mr. Sacks is considering reducing his day-to-day management responsibilities starting in 2025, while continuing to manage certain areas of the Company's business for which he has always been responsible. At that time, Mr. Sacks intends to remain Chairman of the Board, and Mr. Schlosberg would segue from Co-CEO to CEO. Additional Information Regarding the Tender Offer This communication is for informational purposes only, is not a

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits . (d) Exhibits Exhibit 99.1 Press Release dated May 2, 2024. Exhibit 104 The cover page from this Current Report on Form 8-K, formatted in iXBRL (Inline eXtensible Business Reporting Language).

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Monster Beverage Corporation Date: May 2, 2024 /s/ Hilton H. Schlosberg Hilton H. Schlosberg Vice Chairman of the Board of Directors and Co-Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR