Company: NAVN
Filing Date: 2025-07-28
Form Type: DRS/A
Source: 0001628279-25-000476
Chunk: 154

Company: Navan, Inc.
Filing Date: 2025-07-28
Form: DRS/A
Chunk 154
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 12.8% over the term of the loan. The common stock warrants are recorded within the consolidated balance sheets as Additional paid-in capital.

The Vista Facility contains certain affirmative and negative covenants including, among other things, restrictions on repurchases of stock, dividends and other distributions. As of , 2025, we were in compliance with all covenants. See the section titled “Description of Material Indebtedness–Vista Facility” for further detail.

#### ABL Facility
In March 2025, the Company entered into an asset-based lending revolving line of credit with Citibank, N.A., or the ABL Facility, for a term through March 2028. The ABL Facility has a borrowing limit of $100.0 million and incurs interest at SOFR plus 2.5%. Any unused portion of the ABL Facility will bear interest at 0.25% per annum. The available borrowings are based on eligible U.S. and UK travel receivables. Repayment is required if borrowings exceed stated limits.

As of , 2025, we had drawn a total of $ million on the ABL Facility. The ABL Facility contains certain affirmative or negative covenants including, among other things, restrictions on repurchases of stock, dividends and other distributions. As of , 2025, we were in compliance with all covenants. See the section titled “Description of Material Indebtedness—ABL Facility” for further detail.

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#### Cash Flows
The following table summarizes our cash flows for the periods presented:

|                                                     |     | Year Ended January 31, |    2025 |     |   |     2024 |
|:----------------------------------------------------|:----|:-----------------------|--------:|:----|:--|---------:|
|                                                     |     | -in thousands          |         |     |   |          |
| Net cash used in operating activities               |     | $                      | -50,406 |     | $ | -166,363 |
| Net cash provided by (used in) investing activities |     | $                      |  44,870 |     | $ | -108,779 |
| Net cash provided by financing activities           |     | $                      |  52,554 |     | $ |  212,620 |

#### Operating Activities
Net cash used in operating activities was $50.4 million for the year ended January