UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
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CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 24, 2021
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Asana, Inc.
(Exact name of Registrant as Specified in Its Charter)
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| Delaware | 001-39495 | 26-3912448 | ||||||
(State or Other Jurisdiction of Incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||
| 1550 Bryant Street, | Suite 200 | ||||||||||
| San Francisco, | CA | 94103 | |||||||||
| (Address of Principal Executive Offices) | (Zip Code) | ||||||||||
(415) 525-3888
(Registrant’s Telephone Number, Including Area Code)
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):
☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | ||||
☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | ||||
☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | ||||
☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | ||||
Securities registered pursuant to Section 12(b) of the Act:
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||||||||
| Class A Common Stock, $0.00001 par value | ASAN | New York Stock Exchange | ||||||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☒
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01 Other Events.
On June 24, 2021, Asana, Inc. (the “Company”) announced that it intends to dual-list its Class A common stock on the Long-Term Stock Exchange (“LTSE”) in addition to its current listing on the New York Stock Exchange (“NYSE”). The Company expects to list on LTSE on August 26, 2021. Dustin Moskovitz, the Company's co-founder, president, and chief executive officer, is a minority investor in LTSE and has no pecuniary interest in the Company's listing on the LTSE.
The Company will remain subject to the rules and regulations of the NYSE and of the U.S. Securities and Exchange Commission. In addition, the Company will be required to publish and maintain a series of policies designed to provide stockholders and other stakeholders with information and insight into its long-term strategies, practices, plans, and measures.
The Company will provide further updates on the dual listing as it progresses.
The press release announcing the Company’s intent to list on the LTSE is attached hereto as Exhibit 99.1.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. | Description | |||||||
| 99.1 | ||||||||
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| ASANA, INC. | ||||||||
| Dated: June 24, 2021 | By: | /s/ Eleanor Lacey | ||||||
| Eleanor Lacey | ||||||||
| General Counsel and Corporate Secretary | ||||||||
Exhibit 99.1
The Long-Term Stock Exchange announces first listing commitments: Asana and Twilio
SAN FRANCISCO – 3:15 PM PT, JUNE 24, 2021 – The Long-Term Stock Exchange (LTSE), a subsidiary of LTSE Group, announces that Asana, Inc. (NYSE, LTSE: ASAN) and Twilio Inc. (NYSE, LTSE: TWLO) will be the first companies to commit to joining LTSE via dual public listings of their common stock. Asana and Twilio expect to list on LTSE on August 26, 2021.
“Both Asana and Twilio demonstrate the kind of governance and growth that will help build a better future for everyone,” said Eric Ries, founder and CEO of LTSE Group. “We’re honored that companies of this caliber are committing to the Long-Term Stock Exchange.”
Asana is a work management platform that empowers teams to orchestrate their work — from daily tasks to big strategic initiatives. By enabling the world’s teams to work together effortlessly, Asana helps organizations of all sizes and industries achieve their goals, faster. Widely recognized for its award-winning culture, Asana is committed to building a culture of transparency, trust, and inclusivity in the company and its product.
“Everything we do at Asana is in service of our mission: empowering teams to achieve their own missions. When we all work together, we can achieve great things. By listing with the LTSE we are elevating our public commitment to our long term view, further developing our structures to execute on our strategies and aligning even more with our stakeholders who share similar values,” said Dustin Moskovitz, co-founder and chief executive officer of Asana.
Cloud communications and customer engagement platform Twilio has built sustainable growth around the idea that when companies serve multiple stakeholders — including customers, employees, shareholders, and their broader communities — it benefits both society and the bottom line. By incorporating social impact into business objectives, working to foster a culture of equity and inclusion, and prioritizing customer trust, the company has built a diversified business that serves over 235,000 customers across every industry.
“At Twilio, we believe a company's impact on society should be net positive,” said Jeff Lawson, co-founder and chief executive officer of Twilio. “Our focus has always been on creating sustainable value for all of our stakeholders. We’re just scratching the surface of a generational opportunity, and we look forward to joining a community of stakeholders that share our commitment to long-term growth.”
LTSE’s principles-based listing standards prioritize long-term actions and promote transparency by requiring listed companies to detail and publish policies that offer stakeholders insight into how a company builds its business for the long term. Listing on LTSE aligns the governance of both Asana and Twilio with long-term shareholders, employees, customers, and communities within a public market designed to promote sustainability, resilience, and the creation of value over time.
About Asana
Asana helps teams orchestrate their work, from small projects to strategic initiatives. Headquartered in San Francisco, CA, Asana has more than 100,000 paying customers and millions of free organizations across 190 countries. Global customers such as Amazon, Japan Airlines, Sky, and Under Armour rely on Asana to manage everything from company objectives to digital transformation to product launches and marketing campaigns. For more information, visit www.asana.com.
Exhibit 99.1
About Twilio
Millions of developers around the world have used Twilio to unlock the magic of communications to improve any human experience. Twilio has democratized communications channels like voice, text, chat, video and email by virtualizing the world’s communications infrastructure through APIs that are simple enough for any developer to use, yet robust enough to power the world’s most demanding applications. By making communications a part of every software developer's toolkit, Twilio is enabling innovators across every industry — from emerging leaders to the world’s largest organizations — to reinvent how companies engage with their customers. For more information, visit www.twilio.com.
About the Long-Term Stock Exchange
The Long-Term Stock Exchange is the only U.S. national securities exchange with a mission to unite innovative companies with patient capital. The exchange features listing standards designed to support companies that aim to partner with long-term shareholders, engage a broad group of stakeholders, and build their business and advance their vision over time.
The Long-Term Stock Exchange is a wholly owned subsidiary of LTSE Group, Inc. Investors include Founders Fund, Collaborative Fund, Andreessen Horowitz, Obvious Ventures, Uprising, and Initialized. For more information, visit www.longstermstockexchange.com.
Media contacts
Asana
press@Asana.com
Twilio
press@Twilio.com
The Long-Term Stock Exchange
press@longtermstockexchange.com
The information contained above is provided for informational and educational purposes only, and nothing contained herein should be construed as investment advice, either on behalf of a particular security or an overall investment strategy. Information about the company is provided by Asana or Twilio, or comes from the companies’ public filings and is not independently verified by LTSE. Neither LTSE nor any of its affiliates makes any recommendation to buy or sell any security or any representation about the financial condition of any company. Statements regarding LTSE-listed companies are not guarantees of future performance. Actual results may differ materially from those expressed or implied. Past performance is not indicative of future results. Investors should undertake their own due diligence and carefully evaluate companies before investing. Advice from a securities professional is strongly advised.
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