Overview
- Navan priced shares at $25, the midpoint of its range, with 36.92 million shares sold by the company and existing investors.
- Trading is scheduled to begin Thursday on the Nasdaq under the ticker NAVN.
- The offering moved forward after the SEC eased restrictions during a government shutdown that had paused filing reviews.
- Navan markets an AI-centered platform that unifies business travel, payments and expense management, and counts Primark, Shopify, Zoom, Wayfair and Thomson Reuters as customers.
- IPO analysts note recent listings have generally held up despite a recent loss of momentum driven by the shutdown, trade tensions and cooling AI enthusiasm.