Latham & Watkins represented the financial advisers to Asana, Inc., a leading work management platform for teams, in its direct listing on the New York Stock Exchange (NYSE). The shares began trading under the ticker symbol “ASAN” on September 30, 2020. The technology unicorn is one of the first companies to use the direct listing approach to become public. Latham represented Spotify in its groundbreaking direct listing on the NYSE in 2018 and the financial advisers in the direct listing of Slack on the NYSE in 2019.
Latham represented the financial advisers to Asana in its direct listing with a capital markets team led by New York partner Greg Rodgers and Bay Area partner Tad Freese, with Bay Area associates John Williams, Michelle Lu, and Natalie Robertson. Advice was also provided on data and technology matters by Bay Area partner JD Marple, with Los Angeles associate Jia Jia Huang; on data privacy and security matters by Bay Area counsel Robert Blamires; on trading and markets and broker-dealer matters by New York partner Dana Fleischman; on benefits and compensation matters by Bay Area partner James Metz, with Bay Area associate Brianna Stellpflug; and on tax matters by Bay Area partner Grace Lee, with Boston associate Jeremiah Cowen.
Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC, Credit Suisse Securities (USA) LLC, and Jefferies LLC acted as financial advisers to Asana, with RBC Capital Markets, LLC, JMP Securities LLC, KeyBanc Capital Markets Inc., Oppenheimer & Co. Inc., and Piper Sandler & Co. acting as associate financial advisers.