Asana, which provides enterprise task management and collaboration software, is expected to begin trading on the NYSE on Wednesday, September 30, 2020, according to an amendment filed with the SEC on Wednesday.
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In its latest filing, the company also disclosed the number of Class A shares to be sold by existing shareholders, selected a ticker, and updated the sale price history of its stock. The company is holding an Investor Day tomorrow, September 10, at 1:00pm ET.
The Registered Stockholders plan to sell up to 30 million Class A shares.
For the third quarter in fiscal 2021 (through August 31, 2020), 683,456 shares were sold in private transactions, ranging from $14.24 to $28.00; if the company listed its shares at the $28 high end of the range, Asana would command a fully diluted market value of $5.3 billion.
None of the company's shareholders will be subject to the standard 180-day lock-up agreement found in most IPOs.
The San Francisco, CA-based company was founded in 2008 and booked $181 million in sales for the 12 months ended July 31, 2020. It plans to list on the NYSE under the symbol ASAN. Asana filed confidentially for a direct listing in January 2020. As a direct listing without a firm commitment offering, there are no underwriters on the deal; instead, Morgan Stanley, J.P. Morgan, Credit Suisse, and Jefferies will serve as financial advisors.
