<SEC-DOCUMENT>0001104659-24-066207.txt : 20240710
<SEC-HEADER>0001104659-24-066207.hdr.sgml : 20240710
<ACCEPTANCE-DATETIME>20240529182300
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001104659-24-066207
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20240529

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Monster Beverage Corp
		CENTRAL INDEX KEY:			0000865752
		STANDARD INDUSTRIAL CLASSIFICATION:	BOTTLED & CANNED SOFT DRINKS CARBONATED WATERS [2086]
		ORGANIZATION NAME:           	04 Manufacturing
		IRS NUMBER:				471809393
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		1 MONSTER WAY
		CITY:			CORONA
		STATE:			CA
		ZIP:			92879
		BUSINESS PHONE:		909-739-6200

	MAIL ADDRESS:	
		STREET 1:		1 MONSTER WAY
		CITY:			CORONA
		STATE:			CA
		ZIP:			92879

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HANSEN NATURAL CORP
		DATE OF NAME CHANGE:	19930328

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	UNIPAC CORP
		DATE OF NAME CHANGE:	19600201
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    <TD STYLE="width: 37%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 25%; text-align: center; font-size: 10pt">May 29, 2024</TD>
    <TD STYLE="width: 38%; text-align: right; font-size: 10pt; text-transform: uppercase">&nbsp;</TD></TR>
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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase"><U>Via EDGAR</U></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Division of Corporation Finance</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Office of Mergers &amp; Acquisitions</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">United States Securities and Exchange Commission</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">100 F Street, N.E.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Washington, D.C. 20549-3561</P>

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<TD STYLE="width: 0.75in; text-align: left">Attention:</TD><TD STYLE="text-align: justify">Shane Callaghan, Special Counsel</TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">Perry Hindin, Special Counsel</TD></TR>
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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><B>Re:</B></TD><TD><B>Monster Beverage Corporation<BR>
Schedule TO-I/A Filed May 16, 2024<BR>
File No. 005-41221</B></TD></TR></TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">Dear Mr. Callaghan and Mr. Hindin:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We received the comment letter
(the &#8220;Comment Letter&#8221;) of the Staff (the &#8220;Staff&#8221;) of the U.S. Securities and Exchange Commission, dated May 20,
2024, with regard to the above-referenced Amendment No. 1 to the Schedule TO-I (the &#8220;Schedule TO&#8221;). Monster Beverage Corporation
(the &#8220;Company&#8221;) provides the following response to the Comment Letter. For ease of reference, the comment in the Comment Letter
is reproduced in italicized form below. Immediately prior to the submission of this letter, the Company filed Amendment No. 2 to the Schedule
TO (the &#8220;Schedule TO Amendment&#8221;).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Schedule TO-I/A Filed May 16, 2024</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>General</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify"><I>We note your response to prior comment 1 in our letter dated May 13, 2024. Given that the Company will
incur up to an additional $1 billion in debt and related interest expense and reduce shares outstanding by repurchasing up to approximately
5.4% of the Company's outstanding shares in the Offer, it appears that pro forma financial information is material to a shareholder's
investment decision whether to tender shares in the Offer. Please revise to include the pro forma financial information required by Item
10 of Schedule TO and Item 1010(b) of Regulation M-A, or otherwise advise.</I></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">United States Securities and Exchange Commission</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">May 29, 2024</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Page 2</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Response</U>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As disclosed in the Schedule
TO Amendment, on May 29, 2024, the Company announced the waiver of the financing condition to which the offer was previously subject and,
therefore, the Company amended the offer to remove such financing condition. The Company notes that Instruction 2 to Item 10 of Schedule
TO indicates that financial statements are not considered material to a holder&#8217;s decision whether to sell, tender or hold the securities
sought in a tender offer if (i) the consideration offered consists solely of cash, (ii) there is no financing condition to the offer and
(iii) the offeror is a public reporting company under Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended, that
files reports electronically on EDGAR. All three of the conditions in Instruction 2 to Item 10 are now satisfied with respect to the tender
offer and, therefore, the Company does not believe the pro forma financial information is material to a holder&#8217;s decision whether
to sell, tender or hold the securities the tender offer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">* * *</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">United States Securities and Exchange Commission</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">May 29, 2024</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">Page 3</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company believes that
the information contained in this letter is responsive to the Comment Letter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Should you have any questions,
please contact Rory T. Hood at Jones Day at (212) 326-3814 or by email: rhood@jonesday.com.</P>

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    <TD STYLE="width: 50%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Best regards,</FONT></TD></TR>
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    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
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    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">/s/ Paul J. Dechary</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Paul J. Dechary</FONT></TD></TR>
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    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Executive Vice President &amp; General Counsel</FONT></TD></TR>
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<TD STYLE="width: 0.35in; text-align: left">cc:</TD><TD STYLE="text-align: justify">Rory T. Hood, Jones Day</TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">Andrew Levine, Jones Day</TD></TR>
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