Company: NAVN
Filing Date: 2025-10-10
Form Type: S-1/A
Source: 0001628280-25-044812
Chunk: 21

Company: Navan, Inc.
Filing Date: 2025-10-10
Form: S-1/A
Chunk 21
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 not haveagreements or commitments for any acquisitions orinvestments outside the ordinary course of business at thistime. See the section titled “Use of Proceeds” for additionalinformation.We will not receive any proceeds from sales of shares ofClass A common stock by the selling stockholders. |

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| Voting rights.................................................... | Following the completion of this offering, shares of ourClass A common stock will be entitled to one vote per share.Shares of our Class B common stock will be entitledto30votes per share. Holders of our Class A common stockand Class B common stock will generally vote together as asingle class, unless otherwise required by law or ouramended and restated certificate of incorporation.Immediately following the completion of this offering, andassuming no exercise of the underwriters’ option to purchaseadditional shares, Ariel Cohen, our co-founder, chairpersonof our board of directors, and Chief Executive Officer, and amember of our board of directors, will holdapproximately24%of the voting power of our outstandingcapital stock, and Ilan Twig, our co-founder, ChiefTechnology Officer, and a member of our board of directors,will hold approximately43%of the voting power of ouroutstanding capital stock, which voting power may increaseover time upon the exercise or settlement and exchange ofequity awards held by our co-founders pursuant to theirEquity Exchange Rights (as defined below). |
|                                                                   | If all currently outstanding stock options to purchase sharesof our Class A common stock and all RSUs held by our co-founders that are settleable for shares of our Class Acommon stock were exercised or settled, as applicable, andthe resulting shares were exchanged for an equal number ofshares of Class B common stock pursuant to the EquityExchange Rights, then immediately following the completionof this offering, Messrs. Cohen and Twig would holdapproximately35%and42%, respectively, of the votingpower of our outstanding capital stock.As a result, our co-founders may have significant influenceover the outcome of matters submitted to our stockholdersfor approval, including the election of our directors and theapproval of any change of control transaction. These risksare more fully described in the section titled “Risk Factors.”See the sections titled “Principal and Selling Stockholders”and “Description of Capital Stock” for additional information.                                                                                                                                        |
| Risk factors..................................................... | See the section titled “Risk Factors” and other informationincluded in this prospectus for a discussion of some of thefactors you should consider before deciding to purchases