Atlassian Explores Redomiciling from the United Kingdom to the United States

Rhea-AI Summary

Atlassian Corporation Plc (NASDAQ: TEAM) announced its exploration of redomiciling its parent holding company from the United Kingdom to the United States. The move aims to enhance access to investors, support inclusion in more stock indices, streamline corporate structure, and improve capital access. Atlassian anticipates that the transaction will not lead to significant operational changes and aims for completion in the first half of fiscal year 2023, pending board and shareholder approval. Further details will be provided in upcoming months.

Positive

• Moving the parent company to the U.S. to attract broader investor interest.
• Anticipated inclusion in additional stock indices.
• Streamlined corporate structure for operational efficiency.
• Increased flexibility in accessing capital.

Negative

• None.

TEAM, Anywhere/SAN FRANCISCO--(BUSINESS WIRE)-- Atlassian Corporation Plc (NASDAQ: TEAM), a leading provider of team collaboration and productivity software, today announced it has undertaken an exploration of redomiciling its parent holding company from the United Kingdom to the United States.

Atlassian has always operated with a mindset to drive the best long-term outcome for its customers, employees, partners, and shareholders. Atlassian believes moving its parent company to the United States will increase its access to a broader set of investors, support inclusion in additional stock indices, streamline its corporate structure, and provide more flexibility in accessing capital. Atlassian does not believe this transaction will result in any significant operational or business model changes.

The transaction is subject to final approval, including by Atlassian’s Board of Directors and shareholders. Pending exploration, Atlassian would aim to close the transaction in the first half of fiscal year 2023, and will share additional details in the coming months, including the filing of additional materials with the U.S. Securities and Exchange Commission.

About Atlassian

Atlassian unleashes the potential of every team. Our team collaboration and productivity software helps teams organize, discuss, and complete shared work. Teams at more than 225,000 customers, across large and small organizations - including Bank of America, Redfin, NASA, Verizon, and Dropbox - use Atlassian’s project tracking, content creation and sharing, and service management products to work better together and deliver quality results on time. Learn more about our products, including Jira Software, Confluence, Jira Service Management, Trello, Bitbucket, and Jira Align at https://atlassian.com/.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220209006019/en/

Investor Relations Contact

Martin Lam

IR@atlassian.com

Media Contact

Heather McLellan

press@atlassian.com

Source: Atlassian Corporation Plc

FAQ

Why is Atlassian considering redomiciling to the United States?

Atlassian believes moving to the U.S. will enhance access to a broader set of investors and support inclusion in additional stock indices.

What are the expected benefits of Atlassian's potential redomiciling?

The expected benefits include increased investor access, streamlined corporate structure, and improved capital flexibility.

When does Atlassian plan to complete the redomiciling process?

Atlassian aims to close the transaction in the first half of fiscal year 2023.

Will there be operational changes with the redomiciling?

Atlassian does not anticipate any significant operational or business model changes as a result of the redomiciling.

What is the stock symbol for Atlassian?

The stock symbol for Atlassian is TEAM.