secwatch.observer — SEC 8-K summary
======================================

Issuer:     Asana, Inc. (ASAN)
CIK:        0001477720
Form:       8-K
Filed at:   2022-11-10T23:59:59+00:00
Accession:  0001477720-22-000051
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 1.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Asana enters $150M credit facility with Silicon Valley Bank
-----------------------------------------------------------

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1477720/000147772022000051/0001477720-22-000051-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1477720/000147772022000051/asan-20221107.htm
  HTML page:      https://secwatch.observer/filing/0001477720-22-000051

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer