Asana will directly list at the NYSE at $21 reference price, according to NASDAQ. The San Francisco, CA-based company will list under the symbol ASAN. Company and Palantir (PLTR) will become third and fourth major direct listings, after Slack (WORK) in June and Spotify (SPOT) in April 2018.
- The Registered Stockholders, representing existing major shareholders, including management, will sell up to 30 million shares, but more eligible for sale on Wednesday.
- There is no share lock-up, unlike a traditional IPO.
- There are no underwriters on the deal, but Morgan Stanley, Credit Suisse, J.P. Morgan, and Jefferies are its financial advisors.
- Asana was founded in 2009 and had $ 181 million worth of sales for year ended July 31, 2020.
At listing price, ASANA would command a fully diluted market value of $3.9 billion.