Company: NAVN
Filing Date: 2025-10-10
Form Type: S-1/A
Source: 0001628280-25-044812
Chunk: 28

Company: Navan, Inc.
Filing Date: 2025-10-10
Form: S-1/A
Chunk 28
---
 shares of our Class A common stock issuable upon the settlement of RSUs held by our co-founders and that may be exchanged, upon exercise or settlement, as applicable, for an equivalent number of shares of our Class B common stock following this offering pursuant to the Equity Exchange Rights. Option Cash Exercise In connection with this offering, certain selling stockholders will exercise stock options for 1,975,677 shares of our Class A common stock with a weighted-average exercise price of $6.95 per share, which we refer to as the Option Cash Exercise. Equity Capitalization The table presented below sets forth a summary of our equity capitalization as follows: • on a historical basis as of July 31, 2025 , reflecting shares of Class A common stock, and securities convertible into, exchangeable for, or that represent the right to receive, shares of Class A common stock, except (A) with respect to RSUs outstanding, which figure is estimated as of the date of this prospectus as further described in footnote (1) to the table, and (B) the figures in the table assume the Warrant Determination for the SAFE Warrants and present the Convertible Notes and SAFEs on an as-converted basis immediately prior to the Note Conversion and SAFE Conversion; and • after giving effect to (A) the additional equity adjustments assumed in the information in this prospectus, as described in the bullet points above, and (B) the sale and issuance by us of 30,000,000 shares of Class A common stock in this offering, as set forth on the cover page of this prospectus .

| Historical                                                                         | Class A andB CommonStock(Outstanding) |     | RedeemableConvertiblePreferredStock |     | SAFEWarrants |     | Common andPreferredStockWarrants |     | ConvertibleNotes |     |     SAFEs |     | StockOptions |     |      RSUs |     | Class A CommonStock (FullyDiluted) |
| Common Stock as of July 31,2025........................................            |                            46,331,272 |     |                                     |     |              |     |                                  |     |                  |     |           |     |              |     |           |     |                         46,331,272 |
| Redeemable ConvertiblePreferred Stock (as-converted).............................. |                                       |     |                         146,589,046 |     |              |     |                                  |     |                  |     |           |     |              |