Asana enters $150M credit facility with Silicon Valley Bank

Asana, Inc.

New $150M credit facility includes $50M term loan and $100M revolving line (including $30M letter of credit).
Proceeds used to refinance existing $35.4M credit facility; matures Nov 7, 2026.
Financial covenants require consolidated adjusted quick ratio of 1.25:1.00 and minimum cash adjusted EBITDA tested quarterly.
Obligations secured by substantially all assets of Asana and material subsidiaries.
Silicon Valley Bank acts as issuing lender, administrative agent, and collateral agent.

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