Company: NAVN
Filing Date: 2025-10-10
Form Type: S-1/A
Source: 0001628280-25-044812
Chunk: 24

Company: Navan, Inc.
Filing Date: 2025-10-10
Form: S-1/A
Chunk 24
---
304,696 shares of our Class A common stock for an equivalent number of shares of our Class B common stock pursuant to the Class B Stock Exchange upon the completion of this offering, which number excludes 1,924,332 shares to be 14 sold by our co-founders and their affiliated entities, as applicable, in this offering, as described in the section titled “Principal and Selling Stockholders”; • 12,836,457 shares of our Class A common stock issuable upon the Note Conversion (as defined below), based on the assumptions described in the section titled “—Note Conversion”; • 7,858,204 shares of our Class A common stock issuable upon the SAFE Conversion (as defined below), based on the assumptions described in the section titled “—SAFE Conversion”; • 1,216,284 shares of our Class A common stock issuable upon the cash exercise of the SAFE Warrants (as defined below) with an exercise price per share of $0.03, or the SAFE Warrant Exercise; • 486,005 shares of our Class A common stock issuable upon the net exercise of outstanding Class A common stock warrants with an exercise price per share of $0.03, or the Warrant Net Exercise, and together with the SAFE Warrant Exercise, the Warrant Exercises; • the net issuance of 948,970 shares of Class A common stock in connection with the vesting and settlement of certain RSUs outstanding as of the date of this prospectus subject to time-based service and performance-based conditions, for which (i) the time-based service condition was fully or partially satisfied as of such date and (ii) the performance-based condition will be satisfied upon the effectiveness of the registration statement of which this prospectus forms a part, which we refer to as the IPO Vesting RSUs, after giving effect to the withholding of 694,607 shares of our Class A common stock to satisfy the associated estimated tax withholding and remittance obligations for the portion of the IPO Vesting RSUs subject to such 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), which we refer to as the RSU Net Settlement; • except as described above, no exercise of outstanding stock options or warrants or settlement of outstanding RSUs; and • no exercise by the underwriters of their option to purchase 5,538,660