Monster Beverage Board Authorizes New $500.0 Million Share Repurchase Program
June 14 2022 - 4:40PM
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 an additional $500.0 million of the
Company’s outstanding common stock. As of June 14, 2022,
approximately $157.4 million remained available for repurchase
under the Company’s previously authorized repurchase program. The
Company expects to make the share repurchases from time to time in
the open market, through privately-negotiated transactions, by
block-purchase or through other transactions managed by
broker-dealers, 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
the share repurchases may be suspended or discontinued at any time.
Monster Beverage CorporationBased
in Corona, California, Monster Beverage Corporation is a holding
company and conducts no operating business except through its
consolidated subsidiaries. The Company’s subsidiaries develop and
market energy drinks, including Monster Energy® energy drinks,
Monster Energy Ultra® energy drinks, Juice Monster® Energy + Juice
energy drinks, Java Monster® non-carbonated coffee + energy drinks,
Espresso Monster® non-carbonated espresso + energy drinks, Rehab®
Monster® non-carbonated energy drinks, Monster Hydro® Energy Water
non-carbonated refreshment + energy drinks, Monster Hydro Super
Sport® Superior Hydration non-carbonated refreshment + energy
drinks, Monster HydroSport Super Fuel® non-carbonated advanced
hydration + energy drinks, Monster Dragon Iced Tea® non-carbonated
energy teas, Muscle Monster® non-carbonated energy shakes, Monster
Energy® Nitro energy drinks, Reign Total Body Fuel® high
performance energy drinks, Reign Inferno® thermogenic fuel high
performance energy drinks, True North® Pure Energy Seltzer energy
drinks, NOS® energy drinks, Full Throttle® energy drinks, Burn®
energy drinks, Samurai® energy drinks, Relentless® energy drinks,
Mother® energy drinks, Play® and Power Play® (stylized) energy
drinks, BU® energy drinks, Nalu® energy drinks, BPM® energy drinks,
Gladiator® energy drinks, Ultra Energy® energy drinks, Live+®
energy drinks, Predator® energy drinks and Fury® energy drinks. The
Company acquired CANarchy Craft Brewery Collective LLC in February
2022 and added a number of craft beers and hard seltzers to its
product portfolio. For more information visit,
www.monsterbevcorp.com.
Caution Concerning Forward-Looking
Statements
Certain statements made in this announcement may constitute
“forward-looking statements” within the meaning of the U.S. federal
securities laws, as amended, regarding the expectations of
management with respect to our future operating results and other
future events including revenues and profitability. The Company
cautions that these statements are based on management’s 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. Such risks and
uncertainties include, but are not limited to, our ability to
implement the share repurchase programs. For a more detailed
discussion of these and other risks that could affect our operating
results, see the Company’s reports filed with the Securities and
Exchange Commission, including our annual report on Form 10-K for
the year ended December 31, 2021 and our subsequently filed
quarterly reports. The Company’s actual results could differ
materially from those contained in the forward-looking statements,
including with respect to the share repurchase programs. The
Company assumes no obligation to update any forward-looking
statements, whether as a result of new information, future events
or otherwise.
CONTACTS:Rodney C. SacksChairman and Co-Chief Executive
Officer(951) 739-6200
Hilton H. SchlosbergVice Chairman and Co-Chief Executive
Officer(951) 739-6200
Roger S. Pondel / Judy Lin SfetcuPondelWilkinson Inc.(310)
279-5980
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