secwatch.observer — SEC 8-K summary
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Issuer:     Asana, Inc. (ASAN)
CIK:        0001477720
Form:       8-K
Filed at:   2026-11-10T21:20:34+00:00
Accession:  0001628280-26-072757
Event type: debt
Sentiment:  neutral
Materiality: 0.40
Item codes: 1.01, 1.02, 9.01
LLM model:  deepseek-v4.1-flash:cloud@v2

Asana signs $150M senior secured revolver with Wells Fargo; repays prior SVB facility
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- $150M senior secured revolving credit facility with Wells Fargo as administrative agent; sub-limits of $30M for letters of credit and $15M for swingline loans; matures Nov 9, 2031.
- Term SOFR loans at SOFR +2.00% (2.00%-2.50% after the Q4 FY2027 compliance certificate, tied to leverage); base rate +1.00%-1.50%; unused commitment fee 0.20%-0.30%.
- Financial covenants: consolidated total net leverage no greater than 3.25 to 1.00 and interest coverage no less than 3.00 to 1.00, tested quarterly.
- Secured by first-priority liens on substantially all assets and pledges of subsidiary equity; guaranteed by wholly owned subsidiary Eigen Inc. and future domestic subsidiaries.
- On Nov 6, 2026 Asana repaid in full its 2022 credit agreement with Silicon Valley Bank (a division of First-Citizens) using cash on hand; that facility and its liens were terminated.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1477720/000162828026072757/0001628280-26-072757-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1477720/000162828026072757/asan-20261106.htm
  HTML page:      https://secwatch.observer/filing/0001628280-26-072757

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