04:44 AM EDT, 05/30/2024 (MT Newswires) -- Monster Beverage ( MNST ) said late Wednesday it is amending its tender offer to buy back shares of its common stock for cash at between $53 per share and $60 per share, up to a total of $3 billion.

The tender offer was originally conditioned on the company entering into a credit agreement and at least $1 billion being funded under a term loan and a revolving credit facility. Monster said it now expects to use less than $1 billion in debt financing to complete the tender offer, so the company waived the financing condition.

The tender offer launched on May 8 and will expire on June 5.

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