Company: NAVN
Filing Date: 2025-10-10
Form Type: S-1/A
Source: 0001628280-25-044812
Chunk: 133

Company: Navan, Inc.
Filing Date: 2025-10-10
Form: S-1/A
Chunk 133
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|:-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------:|:----|-------:|
| Increase per share attributable to the pro forma adjustments describedabove............................................................................................................... |    34.62 |     |        |
| Pro forma net tangible book value per share as of July 31, 2025 beforegiving effect to this offering...........................................................................            |     0.63 |     |        |
| Increase in pro forma net tangible book value per share attributable tonew investors purchasing Class A common stock in this offering..........                                            |    $2.73 |     |        |
| Pro forma as adjusted net tangible book value per share immediatelyafter this offering.............................................................................................        |          |     |  $3.36 |
| Dilution in pro forma as adjusted net tangible book value per share to newinvestors in this offering...................................................................................... |          |     | $21.64 |

The dilution information discussed above is illustrative only and will change based on the actual initial offering price and other terms of this offering determined at pricing and the actual tax withholding rates, as well as the actual amount of RSUs settled in connection with this offering. A $1.00 increase or decrease in 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, would increase or decrease our pro forma as adjusted net tangible book value per share after this offering by $0.11 per share and would increase or decrease the dilution per share to new investors in this offering by $0.89 per share, assuming 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 the underwriting discounts and commissions. Similarly,

90

each increase or decrease of 1.0 million shares in the number of shares of Class A common stock offered would increase or decrease the pro forma as adjusted net tangible book value per share after this offering by $0.08 per share or $0.09 per share, respectively, and would decrease or increase the dilution to new investors by $0.08 per share or $0.09 per share, respectively, assuming the assumed initial public offering price, which is the midpoint of the offering price range set forth on the cover page of this prospectus, remains the same and after deducting the underwriting discounts and commissions. If the underwriters exercise their option to purchase additional