Company: NAVN
Filing Date: 2025-09-19
Form Type: S-1
Source: 0001628280-25-042130
Chunk: 29

Company: Navan, Inc.
Filing Date: 2025-09-19
Form: S-1
Chunk 29
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crease) in the assumed tax withholding rates would increase (decrease) the amount of estimated tax withholding and remittance obligations related to the RSU Net Settlement and decrease (increase) as adjusted cash and cash equivalents, working capital, total assets, and total stockholders’ (deficit) equity by $ , assuming that the assumed initial public offering price remains the same, that the number of shares of Class A common stock offered by us, as set forth on the cover page of this prospectus, remains the same, and after deducting underwriting discounts and commissions. Each $1.00 increase (decrease) in the assumed initial public 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 (decrease) the amount of estimated tax withholding and remittance obligations related to the RSU Net Settlement and decrease (increase) as adjusted cash and cash equivalents, working capital, total assets, and total stockholders’ (deficit) equity by $ , assuming that the tax withholding rate remains the same, that the number of shares of Class A common stock offered by us, as set forth on the cover page of this prospectus, remains the same, and after deducting underwriting discounts and commissions. Pro forma adjustments in the footnotes above and the related information in the balance sheet data are illustrative only and may differ from actual amounts based on, among other things, the actual initial public offering price and other terms of this offering determined at pricing, the actual tax withholding rates, as well as the actual amount of RSUs settled in connection with this offering. (4) Working capital is defined as current assets less current liabilities. (5) Long- term debt is comprised of (i) Convertible Notes, net of $195.2 million, (ii) SAFEs of $163.0 million, (iii) ABL Facility of $34.5 million, (iv) Warehouse Credit Facility of $148.2 million, and (v) notes payable, non-current of $117.3 million, which includes $117.1 million related to the Vista Facility . For additional information regarding the ABL Facility, the Warehouse Credit Facility, and the Vista Facility, see the section titled “Description of Material Indebtedness.” (6) Includes $0.4 million related to the redeemable convertible preferred stock warrant liability referenced in footnote (1) above. Key Business Metrics and Non-GAAP Financial Measures We review a number of operating