Navan, Inc., a platform for business travel, payments, and expense management, has commenced the roadshow for its proposed initial public offering of 36,924,406 shares of its Class A common stock.\n\nThe offering comprises 30,000,000 shares of Class A common stock being issued by Navan, with an additional 6,924,406 shares offered by existing stockholders. Navan will not receive any proceeds from the sale of shares by these selling stockholders. The company also anticipates granting the underwriters a 30-day option to purchase up to an additional 5,538,660 shares of Class A common stock to cover potential over-allotments.\n\nThe expected price range for the initial public offering is set between $24.00 and $26.00 per share. Navan plans to list its Class A common stock on the Nasdaq Global Select Market under the ticker symbol “NAVN.”\n\nGoldman Sachs & Co. LLC and Citigroup are serving as the lead book-running managers for the offering. Joint bookrunners include Jefferies, Mizuho, and Morgan Stanley, while BNP Paribas, Citizens Capital Markets, Oppenheimer & Co., MUFG, Needham & Company, and BTIG are also acting as bookrunners. Loop Capital Markets, Academy Securities, and Rosenblatt are co-managers for the transaction.\n\nNavan is recognized for its all-in-one business travel, payments, and expense management platform, designed to simplify travel for frequent users. The platform automates expense reconciliation, provides 24/7 support, and offers an intuitive experience for travelers and finance teams.\n\nA registration statement on Form S-1 concerning these securities has been filed with the U.

S. Securities and Exchange Commission but has not yet been declared effective. The offering will be made exclusively through a prospectus.