Company: NAVN
Filing Date: 2025-07-28
Form Type: DRS/A
Source: 0001628279-25-000476
Chunk: 120

Company: Navan, Inc.
Filing Date: 2025-07-28
Form: DRS/A
Chunk 120
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 withholding shares to satisfy estimated tax withholding and remittance obligations of $ million, based on (A) the assumed initial public offering price of $ per share, the midpoint of the price range set forth on the cover page of this prospectus, and (B) an assumed % tax withholding rate, (v) the automatic conversion of the redeemable convertible preferred stock warrant to a Class A common stock warrant, and the resulting remeasurement and assumed reclassification of the redeemable convertible preferred stock warrant liability to additional paid-in capital, and (vi) the filing and effectiveness of our amended and restated certificate of incorporation that will become effective immediately prior to the completion of this offering; and

• a pro forma as adjusted basis, which reflects (i) the pro forma adjustments set forth above, (ii) the sale and issuance of shares of our Class A common stock in this offering at an 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, and our receipt of $ million in estimated net proceeds from the offering, after deducting underwriting discounts and commissions and estimated offering expenses, and (iii) the use of net proceeds from this offering, together with existing cash and cash equivalents, if necessary, to (A) satisfy the estimated tax withholding and remittance obligations reflected in the pro forma adjustments described in the preceding bullet and (B) repay $ million in outstanding loans under and terminate the Vista Facility.

The information below is illustrative only and our capitalization following this offering will be adjusted based on the actual initial public offering price and other terms of the offering determined at pricing. You should read this table together with our consolidated financial statements and the accompanying notes,

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and the section titled “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” that are included elsewhere in this prospectus.

|                                                                                                                                                                                                                                                                                     |     |                                         , 2025 |   |     |           |     |              |
|                                                                                                                                                                                                                                                                                     |     |                                         Actual |   |     | Pro Forma |     | Pro Forma as 
 Adjusted(1)  |
|                                                                                                                                                                                                                                                                                     |     | -in thousands, except share and per share data |   |     |           |     |              |
| Cash and cash equivalents                                                                                                                                                                                                                                                           |     |                                                |   |     |           |     |              |
| Restricted cash, current                                                                                                                                                                                                                                                            |     |                                                |   |     |