Company: NAVN
Filing Date: 2025-10-10
Form Type: S-1/A
Source: 0001628280-25-044812
Chunk: 31

Company: Navan, Inc.
Filing Date: 2025-10-10
Form: S-1/A
Chunk 31
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4, and the related expense had been recognized for the year ended January 31, 2025 and the six months ended July 31, 2025, (ii) the RSU Net Settlement based on the assumed initial offering price of $25.00 per share,

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which is the midpoint of the offering price range set forth on the cover page of this prospectus, and an assumed 44% tax withholding rate, (iii) the elimination of interest expense related to the Convertible Notes and the change in fair value recognized on the embedded derivative liability related to the Convertible Notes during the applicable periods as if the Note Conversion had occurred on February 1, 2024, based upon (A) 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 (B) an assumed completion date of this offering of November 3, 2025 , (iv) the automatic conversion of the redeemable convertible preferred stock warrant liability to equity classified Class A common stock warrants issuable for little to no consideration, and the elimination of the change in fair value recognized on the preferred stock warrant liability during the applicable periods, (v) the SAFE Conversion, as if the conversion had occurred on February 1, 2024, based upon (A) 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, which we refer to as the SAFE Conversion, and (B) an assumed completion date of this offering of November 3, 2025 , including the elimination of the change in fair value recognized on the SAFE notes during the applicable periods, (vi) the conversion of the SAFE Warrant liability to equity classified Class A common stock warrants issuable for little to no consideration, and the elimination of the change in fair value recognized on the SAFE Warrant liability during the applicable periods, (vii) the estimated pro forma net loss to be recognized upon the Note Conversion, the SAFE Conversion, the Warrant Determination, and the revaluation of the redeemable convertible preferred stock warrant liability, as if such events had occurred on February 1, 2024, based upon (A) 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 (B) an assumed completion date