Navan launches IPO roadshow targeting $24-26 per share price range

Navan Inc., a business travel and expense management platform, announced the launch of its initial public offering roadshow. The company plans to offer 36,924,406 shares of Class A common stock, with an expected price range of $24.00 to $26.00 per share.

The offering includes 30 million shares from Navan and 6,924,406 shares from existing stockholders. Navan will not receive proceeds from the stockholder sales. The company has granted underwriters a 30-day option to purchase up to 5,538,660 additional shares to cover over-allotments.

Navan has applied to list its Class A common stock on the Nasdaq Global Select Market under the ticker symbol "NAVN." Goldman Sachs and Citigroup are serving as lead book-running managers for the offering.

Joint bookrunners include Jefferies, Mizuho, and Morgan Stanley. Additional bookrunners are BNP Paribas, Citizens Capital Markets, Oppenheimer & Co., MUFG, Needham & Company, and BTIG. Loop Capital Markets, Academy Securities, and Rosenblatt are acting as co-managers.

The company has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission, though it has not yet become effective. The securities cannot be sold until the registration statement becomes effective.

Navan operates as an all-in-one platform combining business travel, payments, and expense management services. The information is based on the company's press release statement.

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