Company: NAVN
Filing Date: 2025-10-10
Form Type: S-1/A
Source: 0001628280-25-044812
Chunk: 126

Company: Navan, Inc.
Filing Date: 2025-10-10
Form: S-1/A
Chunk 126
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 verified by any independent source. In addition, assumptions and estimates of our and our industries’ future performance are necessarily subject to a high degree of uncertainty and risk due to a variety of factors, including those described in the sections titled “Risk Factors” and “Special Note Regarding Forward-Looking Statements.” These and other factors could cause our future performance to differ materially from our assumptions and estimates. As a result, you should be aware that market, ranking and other similar industry data included in this prospectus, and estimates and beliefs based on that data, may not be reliable. Accordingly, you are cautioned not to place undue reliance on such market and industry data or any other such estimates. The sources of certain statistics, estimates, and forecasts contained in this prospectus are: • Euromonitor International Limited, Global Business Travel Industry Assessment Report , June 2025, commissioned by us. • Euromonitor International Limited, Embedded Finance Powered Transformation Across Travel – Intermediaries, Lodging, Shopping, and Food and Dining , May 2024. • Global Business Travel Association, 2024 Business Travel Index Outlook: Annual Report and Forecast , July 2024. • World Travel & Tourism Council, Economic Impact Report , 2024. 83 USE OF PROCEEDS We estimate that the net proceeds from our sale of shares of our Class A common stock in this offering at 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 after deducting underwriting discounts and commissions and estimated offering expenses, will be approximately $699.6 million, or $830.3 million if the underwriters’ option to purchase additional shares is exercised in full. We will not receive any proceeds from sales of shares of Class A common stock by the selling stockholders. The principal purposes of this offering are to create a public market for our Class A common stock, increase our visibility in the marketplace, obtain additional capital, increase our capitalization and financial flexibility and facilitate an orderly distribution of shares for the selling stockholders. We intend to use approximately $133.8 million of the net proceeds from this offering to repay outstanding term loans, including accrued and unpaid interest and estimated lenders’ legal fees, under and terminate our credit agreement with VCP Capital Markets, LLC, referred to as the Vista Facility. The Vista Facility currently bears interest at a variable interest rate based on the 3-month SOFR rate (with a 1.00% SOFR