UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 30, 2018
Monster Beverage Corporation
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction of incorporation)
001-18761 |
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47-1809393 |
(Commission File Number) |
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(IRS Employer Identification No.) |
1 Monster Way
Corona, California 92879
(Address of principal executive offices and zip code)
(951) 739 - 6200
(Registrants telephone number, including area code)
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company o
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Item 8.01. Other Events.
On May 30, 2018, Monster Beverage Corporation (the Company) issued a press release announcing that the Companys Board of Directors has authorized a new share repurchase program for the repurchase of up to $500 million of the Companys outstanding common stock. There is no availability remaining under the previously authorized $250 million share repurchase program. The Company expects the share repurchases to be made from time to time in the open market or through privately-negotiated transactions, or otherwise, subject to applicable laws, regulations and approvals. The timing of the share repurchases will depend on a variety of factors, including market conditions, and share repurchases may be suspended or discontinued at any time.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit 99.1 |
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.
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Monster Beverage Corporation |
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Date: May 30, 2018 |
/s/ Hilton H. Schlosberg |
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Hilton H. Schlosberg |
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Vice Chairman of the Board of Directors, |
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President and Chief Financial Officer |
PondelWilkinson Inc.
21700 Oxnard Street, Suite 1840
Woodland Hills, CA 90067
Investor Relations Strategic Public Relations |
T F W |
(310) 279 5980 (310) 279 5988 www.pondel.com |
NEWS
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CONTACTS: |
Rodney C. Sacks
Hilton H. Schlosberg
Roger S. Pondel / Judy Lin Sfetcu |
MONSTER BEVERAGE BOARD AUTHORIZES
NEW $500 MILLION SHARE REPURCHASE PROGRAM
Corona, CA May 30, 2018 Monster Beverage Corporation (NASDAQ:MNST) today announced that its Board of Directors has authorized a new share repurchase program for the repurchase of up to $500 million of the Companys outstanding common stock. There is no availability remaining under the previously authorized $250 million share repurchase program. The Company expects the share repurchases to be made from time to time in the open market or through privately negotiated transactions, or otherwise, subject to applicable laws, regulations and approvals. The timing of the share repurchases will depend on a variety of factors, including market conditions, and share repurchases may be suspended or discontinued at any time.
Monster Beverage Corporation
Based in Corona, California, Monster Beverage Corporation is a holding company and conducts no operating business except through its consolidated subsidiaries. The Companys subsidiaries develop and market energy drinks, including Monster Energy® energy drinks, Monster Energy Ultra® energy drinks, Monster MAXX maximum strength energy drinks, Java Monster® non-carbonated coffee + energy drinks, Espresso Monster espresso + energy drinks, Caffé Monster® non-carbonated energy coffee drinks, Monster Rehab® non-carbonated energy drinks with electrolytes, Muscle Monster® energy shakes, Übermonster® energy drinks, Monster Hydro® energy drinks, NOS® energy drinks, Full Throttle® energy drinks, Burn® energy drinks, Samurai® energy drinks, Relentless® energy drinks, Mother® energy drinks, Power Play® energy drinks, BU® energy drinks, Nalu® energy drinks, BPM® energy drinks, Gladiator® energy drinks, Ultra Energy® energy drinks and Mutant® energy drinks. The Companys subsidiaries also develop and market Mutant® Super Soda drinks. For more information, visit www.monsterbevcorp.com.
(more)
Monster Beverage Corporation
2-2-2
Forward-Looking Statements
Certain statements made in this announcement may constitute forward-looking statements within the meaning of the U.S. federal securities laws. The Company cautions that these statements are based on managements current knowledge and expectations and are subject to certain risks and uncertainties, many of which are outside of the control of the Company, that could cause actual results and events to differ materially from the statements made herein. For a more detailed discussion of the risks that could affect our operating results, see our filings with the Securities and Exchange Commission, including our annual report on Form 10-K and our subsequently filed quarterly reports on Form 10-Q. The Companys actual results could differ materially from those contained in the forward-looking statements, including with respect to the repurchase program. The Company assumes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
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