Company: NAVN
Filing Date: 2025-09-19
Form Type: S-1
Source: 0001628280-25-042130
Chunk: 123

Company: Navan, Inc.
Filing Date: 2025-09-19
Form: S-1
Chunk 123
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 total stockholders’ (deficit) equity and capitalization by $ , assuming that the assumed initial public offering price remains the same, that the number of shares of Class A common stock offered by us, as set forth on the cover page of this prospectus, remains the same, and after deducting underwriting discounts and commissions. Each $1.00 increase (decrease) in the assumed initial public offering price per share of $ , which is the midpoint of the offering price range set forth on the cover page of this prospectus, would increase (decrease) the amount of estimated tax withholding and remittance obligations related to the RSU Net Settlement and decrease (increase) as adjusted cash and cash equivalents, total stockholders’ (deficit) equity and capitalization by $ , assuming that the tax withholding rate remains the same, that the number of shares of Class A common stock offered by us, as set forth on the cover page of this prospectus, remains the same, and after deducting underwriting discounts and commissions. Pro forma adjustments in the footnotes above and the related information in the balance sheet data are illustrative only and may differ from actual amounts based on, among other things, the actual initial public offering price and other terms of this offering determined at pricing, the actual tax withholding rates, as well as the actual amount of RSUs settled in connection with this offering. (2) The Vista Facility consists of $130 million of principal amount and $ 0.9 million of PIK interest, net of unamortized debt discount and issuance costs of $ 13.8 million. The number of shares of our Class A common stock and Class B common stock that will be outstanding after this offering, pro forma and pro forma as adjusted, in the table above, is based on shares of our Class A common stock outstanding and shares of our Class B common stock outstanding (after giving effect to the Capital Stock Conversion, the Note Conversion, the SAFE Conversion, and the RSU Net Settlement), in each case as of July 31, 2025, and excludes: • 41,581,733 shares of our Class A common stock issuable upon the exercise of stock options outstanding as of July 31, 2025 under our 2015 Equity Incentive Plan, or our 2015 Plan, with a weighted-average exercise price of $13.32 per share, of which 8,611,649 shares will be exchangeable for an equal number of shares of Class B common stock at