Company: NAVN
Filing Date: 2025-10-10
Form Type: S-1/A
Source: 0001628280-25-044812
Chunk: 134

Company: Navan, Inc.
Filing Date: 2025-10-10
Form: S-1/A
Chunk 134
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 shares in full, the pro forma as adjusted net tangible book value per share of our Class A common stock after giving effect to this offering would be $3.80 per share, and the dilution in pro forma as adjusted net tangible book value per share to investors in this offering would be $21.20 per share. The following table summarizes, on a pro forma as adjusted basis as of July 31, 2025, after giving effect to the pro forma adjustments described above, the difference between existing stockholders and new investors in this offering with respect to the number of shares purchased from us, the total consideration paid to us, and the average price per share paid by our existing stockholders or to be paid by investors purchasing shares in this offering at the assumed initial public offering price of $25.00 per share, which is the midpoint of the offering price range set forth on the cover page of this prospectus, and our receipt of $699.6 million in estimated net proceeds from the offering, and after deducting underwriting discounts and commissions and estimated offering expenses, and the use of net proceeds from this offering, together with existing cash and cash equivalents, if necessary, to (A) satisfy the estimated tax withholding and remittance obligations as described above and (B) repay $133.8 million in outstanding loans, including accrued and unpaid interest and estimated lenders’ legal fees, under and terminate the Vista Facility:

|                                               | Shares Purchased |     |         |     | Total Consideration |     |         |     | Average PricePer Share |
|                                               |           Number |     | Percent |     | Amount(in millions) |     | Percent |     |                        |
| Existing stockholders............             |      218,241,915 |     | 88%     |     |              $2,490 |     | 77%     |     |                 $11.41 |
| New public investors.............             |       30,000,000 |     | 12%     |     |                $750 |     | 23%     |     |                 $25.00 |
| Total........................................ |      248,241,915 |     | 100%    |     |              $3,240 |     | 100%    |     |                 $13.05 |

Sales by the selling stockholders in this offering will cause the number of shares held by existing stockholders before this offering to be reduced to 211,317,509 shares, or 85%