Company: NAVN
Filing Date: 2025-09-19
Form Type: S-1
Source: 0001628280-25-042130
Chunk: 383

Company: Navan, Inc.
Filing Date: 2025-09-19
Form: S-1
Chunk 383
---
 the Company had a total outstanding balance of $34.5 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 July 31, 2025 , we were in compliance with all covenants. During the six months ended July 31, 2025 , we recognized $1.4 million , of interest expense, comprised of $1.2 million of interest paid and payable, and $0.2 million for the amortization of debt issuance costs. Contractual principal payments Future payments of principal associated with the Vista Facility and other notes payable are as follows (in thousands):

| Fiscal Year                                                                                                                                              |     |   Amount |
| Remainder of 2026...........................................................................................................................             |     |   $1,425 |
| 2027.................................................................................................................................................... |     |      332 |
| 2028.................................................................................................................................................... |     |       66 |
| 2029.................................................................................................................................................... |     |        — |
| 2030.................................................................................................................................................... |     |  130,000 |
| Thereafter...........................................................................................................................................    |     |        — |
| Total debt outstanding......................................................................................................................             |     | $131,823 |
| Less: Unamortized issuance costs and debt discounts..............................................................                                        |     |  -13,753 |
| Plus: PIK interest...............................................................................................................................        |     |      853 |
| Less: Notes payable, current..........................................................................................................                   |     |   -1,602 |
| Notes payable, non-current.............................................................................................................                  |     | $117,321 |

Trade Loan Facility In June 2024 , the Company entered into a loan agreement with Citibank for an uncommitted revolving line of credit facility (“Trade Loan Facility”), which was subsequently amended in July 2024 with changes to certain legal requirements. The loan agreement provided for a credit facility of up to $45.0 million and is effective until 30 days after the Company receives written notice from the lender, or until the date specified in a notice from the Company to the lender, the latter of which may be contingent upon the completion of another transaction. Borrowings under the facility must be repaid subject to the terms of each borrowing request, subject to a maximum term of 90 days. Borrowings on the Trade Loan Facility bear interest on a floating rate based on SOFR plus