* Offer at 55 percent discount to the stock's Monday close

* Co says may negotiate with Big Red

* Shares fall 10 percent

Jones Soda Co (JSDA.O), which is exploring strategic alternatives, said privately held beverage company Big Red Holdings Corp offered to buy it for 30 cents per share, a 55 percent discount to the stock's Monday close.

Shares of the Seattle-based company fell 10 percent to 60 cents in extended trade, after closing at 66.5 cents Monday on Nasdaq.

The company, which markets and distributes beverages under names like Jones Soda and Jones Pure Cane Soda, said it may negotiate with Big Red and intends to pursue all available avenues.

Jones Soda said its board plans to evaluate the offer from Big Red Holdings Corp, the parent company of carbonated soft drink company Big Red Inc.

Adverse economic conditions have continued to negatively impact our liquidity and financial condition and caused us to explore strategic alternatives, Chief Executive Joth Ricci said in a statement. (Reporting by Vidya Lakshmi in Bangalore; Editing by Ratul Ray Chaudhuri)