Company: NAVN
Filing Date: 2025-10-10
Form Type: S-1/A
Source: 0001628280-25-044812
Chunk: 259

Company: Navan, Inc.
Filing Date: 2025-10-10
Form: S-1/A
Chunk 259
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 affiliated with Premji Invest, referred to for this purpose as Premji Invest. Pursuant to the allocation agreement, we agreed to use our commercially reasonable efforts to provide Premji Invest with the right, but not the obligation, to purchase, at the initial public offering price, up to a number of shares of our Class A common stock equal to 5% of the aggregate number of shares sold in this offering, subject to the terms and conditions of the allocation agreement and compliance with applicable securities laws. At our election, the shares may be allocated to Premji Invest by the underwriters in this offering or issued to Premji Invest in a concurrent private placement at the same price and on the same terms as the shares of Class A common stock in this offering. Because the allocation agreement is not a binding commitment to purchase, Premji Invest could determine to purchase more, subject to acceptance by us and the underwriters, fewer, or no shares in this offering or in a concurrent private placement. In addition, we and the underwriters could determine to sell

191 more shares to Premji Invest in this offering. Mr. Patnam, a member of our board of directors, is the Managing Partner of Premji Invest. 2025 Simple Agreements for Future Equity and Common Stock Warrants In February 2025, an entity affiliated with Premji Invest purchased $100.0 million principal amount of SAFEs and was issued warrants to purchase up to approximately 0.29% of our fully diluted capitalization as of the initial public filing of the registration statement of which this prospectus forms a part, at an exercise price of $0.03 per share. In addition, Sandesh Patnam purchased $600,000 principal amount of SAFEs and was issued warrants to purchase 0.0017% of our fully diluted capitalization as of the initial public filing of the registration statement of which this prospectus forms a part, at an exercise price of $0.03 per share. The SAFEs accrue interest at an annual rate of 12%. The principal amount of the SAFEs, including accrued interest, will automatically convert in connection with the completion of this offering. Mr. Patnam, a member of our board of directors, is the Managing Partner of Premji Invest. Secondary Transactions We waived our right of first refusal and transfer restrictions, and the requisite stockholders waived their right of first refusal and right of co-sale in connection with the following stock transfers: • In May 2025, Ilan Twig, our Chief Technology Officer and