Company: NAVN
Filing Date: 2025-10-10
Form Type: S-1/A
Source: 0001628280-25-044812
Chunk: 295

Company: Navan, Inc.
Filing Date: 2025-10-10
Form: S-1/A
Chunk 295
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304,696 shares of our Class B common stock outstanding, assuming (i) the Capital Stock Conversion, the Class B Stock Exchange, the Note Conversion, the SAFE Conversion, the Warrant Exercises, and the Option Cash Exercise, (ii) the net issuance of 948,970 shares of Class A common stock in connection with the RSU Net Settlement, after withholding 694,607 shares to satisfy estimated tax withholding and remittance obligations (based on the assumed initial public offering price of $25.00 per share, the midpoint of the price range set forth on the cover page of this prospectus, and an assumed 44% tax withholding rate), and (iii) the issuance of 30,000,000 shares of Class A common stock by us in this offering. Of these outstanding shares, all of the shares of Class A common stock sold in this offering will be freely tradable, except that any shares purchased in this offering by our affiliates, as that term is defined in Rule 144 under the Securities Act, only would be able to be sold in compliance with the Rule 144 limitations described below. The remaining outstanding shares of our Class A common stock and Class B common stock will be, and the shares underlying outstanding RSUs and shares subject to outstanding stock options will be upon issuance, deemed “restricted securities” as defined in Rule 144. Restricted securities may be sold in the public market only if they are registered under the Securities Act or if they qualify for an exemption from registration under Rule 144 or Rule 701 promulgated under the Securities Act, which rules are summarized below. As a result of the lock-up agreements described below and the provisions of our IRA described in the section titled “Description of Capital Stock—Registration Rights,” and subject to the provisions of Rule 144 or Rule 701, these restricted securities will be available for sale in the public market as follows:

216 In addition, after this offering, up to 49,523,933 shares of Class A common stock may be issued upon exercise of outstanding stock options or vesting and settlement of outstanding RSUs as of July 31, 2025, of which, 10,353,796 shares may be exchanged, upon exercise or settlement, as applicable, for an equivalent number of shares of our Class B common stock pursuant to the Equity Exchange Rights and 87,887,502 shares of Class A common stock are available for future issuance under our 2025 Plan and our 2025 ESPP. Lock-Up Agreements and Market Standoff