Company: NAVN
Filing Date: 2025-07-28
Form Type: DRS/A
Source: 0001628279-25-000476
Chunk: 127

Company: Navan, Inc.
Filing Date: 2025-07-28
Form: DRS/A
Chunk 127
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 be reduced to shares, or % of the total number of shares of our Class A common stock outstanding immediately after the completion of this offering, and will increase the number of shares held by new investors to shares, or % of the total number of shares of our common stock outstanding immediately after the completion of this offering.

A $1.00 increase (decrease) in the assumed initial public offering price of $ per share, which is the midpoint of the offering price range set forth on the cover page of this prospectus, would increase (decrease) total consideration paid by new investors and total consideration paid by all stockholders by approximately $ million, assuming that the number of shares offered by us and the selling stockholders, as set forth on the cover page of this prospectus remains the same and after deducting the underwriting discounts and commissions.

Except as otherwise indicated, the above discussion and tables assume no exercise of the underwriters’ option to purchase additional shares. If the underwriters’ option to purchase additional shares is exercised in full, our existing stockholders would own % and our new investors would own % of the total number of shares of our Class A common stock outstanding upon completion of this offering.

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In addition, to the extent we issue any additional stock options or any outstanding stock options or warrants are exercised, or we issue any other securities or convertible debt in the future, investors will experience further dilution.

The number of shares of our Class A common stock and Class B common stock that will be outstanding after this offering is based on shares of our Class A common stock outstanding and shares of our Class B common stock outstanding (after giving effect to the Capital Stock Conversion, the Note Conversion, the SAFE Conversion, and the RSU Net Settlement), in each case as of , 2025 and excludes:

• shares of our Class A common stock issuable upon the exercise of stock options outstanding as of , 2025 under our 2015 Plan, with a weighted-average exercise price of $ per share, of which shares will be exchangeable for an equal number of shares of Class B common stock at the election of our co-founders upon exercise;

• shares of our Class A common stock issuable upon the exercise of stock options granted after , 2025 under our 2015 Plan with a weighted-average exercise price of $ per share, of which shares will be exchangeable for an equal number of shares of Class B common stock at the election of our co-founders upon exercise;

• shares