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

Company: Navan, Inc.
Filing Date: 2025-09-19
Form: S-1
Chunk 25
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 April 2025, we issued $155 million in aggregate purchase amount of simple agreements for future equity, or SAFEs, to certain investors, including Sandesh Patnam, a member of our board of directors, and an entity affiliated with Premji Invest. Mr. Patnam is the Managing Partner of 15 Premji Invest. See the section titled “Certain Relationships and Related Party Transactions—2025 Simple Agreements for Future Equity and Common Stock Warrants” for more information. The SAFEs bear a return rate of 12% per year. Upon the completion of this offering, pursuant to their terms, the SAFEs will convert into a number of shares of our Class A common stock equal to the principal amount outstanding plus accrued and unpaid interest, divided by a conversion price that is equal to 85% of the public offering price per share in this offering. Upon the completion of this offering, we estimate that we will issue shares of Class A common stock upon the conversion of the aggregate principal amount of the SAFEs, including accrued and unpaid interest through, but excluding, an assumed closing date of , 2025, based on an assumed initial offering price of $ per share, which is the midpoint of the offering price range set forth on the cover page of this prospectus, which we refer to as the SAFE Conversion. Each $1.00 increase in the assumed initial offering price per share of $ , which is the midpoint of the offering price range set forth on the cover page of this prospectus, would decrease the Class A common stock issued in the SAFE Conversion by shares, and each $1.00 decrease in the assumed initial 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 the Class A common stock issued in the SAFE Conversion by shares. Additionally, pursuant to certain equity exchange agreements entered into between us and each co- founder, each co-founder has a right (but not an obligation) to require us to exchange, for shares of Class B common stock, any shares of Class A common stock received by him upon the exercise or settlement of equity awards for shares of Class A common stock, or the Equity Exchange Rights. The Equity Exchange Rights apply to equity awards granted to our co-founders prior to the effectiveness of the filing of our amended and restated certificate of incorporation. As of July 31, 2025, there were shares of our Class A common stock subject to outstanding stock options to purchase shares of our Class A common stock