Company: ASAN
Filing Date: 2025-03-18
Form Type: 10-K
Source: 0001477720-25-000045
Chunk: 111

Company: Asana, Inc.
Filing Date: 2025-03-18
Form: 10-K
Item: Item 7
Chunk 111
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 rate of 0.15% per annum on the unused portion of the borrowing commitments under the revolving credit facility. Refer to Note 6. Debt for further details.

 As of January 31, 2025, under the November 2022 Senior Secured Credit Facility there was $50.0 million drawn and $44.4 million was outstanding under the term loan, no amounts outstanding under the revolving credit facility and an aggregate $21.6 million in letters of credit issued under the credit sub-facility. Our total available borrowing capacity under the revolving credit facility was $78.4 million as of January 31, 2025.

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On March 27, 2023, First Citizens BancShares, Inc. (“First Citizens”) announced that it had entered into an agreement to purchase assets and liabilities of SVB, inclusive of our November 2022 Senior Secured Credit Facility. We continue to have the ability to make additional borrowings under the November 2022 Senior Secured Credit Facility which is now held by SVB as a division of First Citizens.

In September 2022, we issued and sold 19,273,127 shares of our Class A common stock to our CEO in a private placement transaction at a purchase price of $18.16 per share, based on the closing trading price of our Class A common stock on September 2, 2022, for aggregate proceeds of approximately $350 million. Refer to Note 10. Stockholders’ Equity for details.

In June 2024, our board of directors authorized a stock repurchase program of up to $150 million of our outstanding Class A common stock. Repurchases are made on the open market, including via pre-set trading plans, in accordance with applicable securities laws. The program is funded using our working capital and will expire in June 2025. The program does not obligate us to acquire any particular amount of Class A common stock, and the repurchase program may be suspended or discontinued at any time at our discretion. During the year ended January 31, 2025, we repurchased 6.2 million shares of our outstanding Class A common stock for an aggregate purchase price of $78.4 million. All shares of Class A common stock repurchased were retired. As of January 31, 2025, $71.6 million remained available for future repurchases under the stock repurchase program. See Note 10. Stockholders’ Equity to our consolidated financial statements included in Part II, Item 8