Company: NAVN
Filing Date: 2025-09-19
Form Type: S-1
Source: 0001628280-25-042130
Chunk: 21

Company: Navan, Inc.
Filing Date: 2025-09-19
Form: S-1
Chunk 21
---
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| Total Class A common stock and Class Bcommon stock to be outstanding afterthis offering.................................................. | shares                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| Use of proceeds.............................................                                                                              | We estimate that the net proceeds from our sale ofshares of our Class A common stock in this offeringwill be approximately $          , or approximately $          if theunderwriters’ option to purchase additional shares isexercised in full, based upon the assumed initial publicoffering price of $          per share, which is the midpoint ofthe offering price range set forth on the cover page of thisprospectus, and after deducting underwriting discounts andcommissions and estimated offering expenses payable byus.We primarily intend to use the net proceeds from this offeringfor working capital and other general corporate purposes. Weintend to use approximately $      of the net proceeds fromthis offering to repay the outstanding term loans under andterminate our credit agreement with VCP Capital Markets,LLC, referred to as the Vista Facility, the terms of which aredescribed further in the section titled “Description of MaterialIndebtedness.” We also intend to use approximately $      ofthe net proceeds to satisfy the anticipated tax withholdingand remittance obligations related to the RSU Net Settlement(as defined below). Assuming (i) the fair market value of ourClass A common stock at the time of settlement will be equalto the assumed initial public offering price per share of $      ,the midpoint of the price range set forth on the cover page ofthis prospectus, and (ii) an assumed     % tax withholdingrate, we estimate that these tax withholding and remittanceobligations on the RSU Net Settlement will be $          millionin the aggregate. We may also use a portion of the proceedsfor the acquisition of, or investment in, technologies,solutions, or businesses that complement our business.However, we do not have agreements or commitments forany acquisitions or investments outside the ordinary courseof business at this time. See the section titled “Use ofProceeds” for additional information.We will not receive any proceeds from sales of shares ofClass A common stock by the selling stockholders. |

12

| Voting rights.................................................... | Following the completion of this offering, shares of ourClass A common stock will be entitled to one vote per share.Shares of our Class B common stock will be entitledto30votes per share. Holders of our Class A common stockand