Overview
- The company set a range of $24 to $26 for 36.92 million shares, including 30 million new shares and 7 million from insiders, for proceeds of about $960 million at the top end.
- Navan is filing under SEC shutdown rules that allow automatic effectiveness after about 20 days, with the potential for staff follow-up questions and amendments later.
- If declared effective, the company can launch its roadshow as it prepares to list on Nasdaq under the ticker NAVN.
- Rolling 12-month revenue reached $613 million, up roughly 32%, with losses of about $188 million.
- The IPO would value Navan below its 2022 private mark of $9.2 billion; underwriters include Goldman Sachs, Citigroup, Jefferies, Mizuho and Morgan Stanley.