Company: NAVN
Filing Date: 2025-10-10
Form Type: S-1/A
Source: 0001628280-25-044812
Chunk: 32

Company: Navan, Inc.
Filing Date: 2025-10-10
Form: S-1/A
Chunk 32
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                 -1,938,281 |
| Total stockholders’ (deficit) equity...........................................                 |     |          -1,208,451 |     |      503,637 |     |                  1,197,181 |

_______________ (1) The pro forma column above reflect s: • the automatic conversion of all outstanding shares of our redeemable convertible preferred stock outstanding as of July 31, 2025, into 146,589,046 shares of our Class A common stock in connection with the completion of this offering pursuant to the terms of our amended and restated certificate of incorporation in the Capital Stock Conversion; • the Note Conversion, resulting in (A) the net adjustment of the carrying amount of the Convertible Notes of $195.2 million as of July 31, 2025 to $202.1 million, consisting of the accrual of incremental interest expense of $6.3 million (based on an assumed completion date of this offering of November 3, 2025 ) and incremental amortization of debt discount and issuance costs of $0.6 million following July 31, 2025 and through the Note Conversion on the closing date of this offering, reflected as an increase in accumulated deficit of $7.0 million, (B) the extinguishment of the Convertible Notes, reflected as a net decrease of $195.2 million in Convertible Notes (and corresponding decrease in long-term debt in the table above) as of July 31, 2025; (C) the issuance of 12,836,457 shares of our Class A common stock in the Note Conversion, referred to as the Note Conversion Shares, based on (i) 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 (ii) an assumed completion date of this offering of November 3, 2025 , reflected as an increase to Class A common stock and

22 additional paid-in capital of $320.9 million, which represents the estimated fair value of the Note Conversion Shares based on 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 (D) the recognition of a $80.3 million loss upon extinguishment of the Convertible Notes and embedded derivative liability, reflected as a further increase in accumulated deficit, equal to the fair value