Navan, Inc. (NASDAQ: NAVN), a platform for business travel, payments, and expense management, has announced the completion of its initial public offering, with its Class A common stock now trading on the Nasdaq Global Select Market under the symbol NAVN.
The offering comprised an aggregate of 36,924,406 shares of Class A common stock, priced at $25.00 per share. Navan itself sold 30,000,000 shares, while existing stockholders sold 6,924,406 shares. Navan did not receive any proceeds from the shares sold by the existing stockholders.
The company has also granted the underwriters a 30-day option to purchase up to an additional 5,538,660 shares of its Class A common stock at the initial public offering price, minus underwriting discounts and commissions.
Shares commenced trading on the Nasdaq Global Select Market on October 30, 2025. Goldman Sachs & Co. LLC and Citigroup served as lead book-running managers for the offering. Jefferies, Mizuho, and Morgan Stanley acted as joint bookrunners, with BNP Paribas, Citizens Capital Markets, Oppenheimer & Co., MUFG, Needham & Company, and BTIG also participating as bookrunners. Loop Capital Markets, Academy Securities, and Rosenblatt were co-managers.
A registration statement pertaining to the shares was filed with the U.
S. Securities and Exchange Commission, becoming automatically effective on October 29, 2025, in accordance with Section 8(a) of the Securities Act of 1933, as amended. The offering was conducted solely through a prospectus.
Navan provides an all-in-one platform for business travel, payments, and expense management, designed to simplify the experience for frequent travelers. The platform supports users from flight and hotel booking to automated expense reconciliation, offering 24/7 support. Its intuitive design aims to be favored by travelers and relied upon by finance teams.
