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Navan Inc, the business travel and expense management platform, has officially launched its initial public offering (IPO) roadshow, marking a major milestone in its journey toward becoming a publicly traded company, as per a report.Navan to offer 36.9 million shares at $24–$26 price rangeAccording to the company’s announcement, Navan plans to offer a total of 36,924,406 shares of Class A common stock, with an expected price range between $24.00 and $26.00 per share, as per an Investing.com report. Of those, 30 million shares will be issued by Navan itself, while 6,924,406 shares will be sold by existing stockholders, as per the report. The company will not receive any proceeds from the stockholder sales, as per the Investing.com report.In addition, Navan has granted underwriters a 30-day option to purchase up to 5,538,660 additional shares to cover potential over-allotments, a standard move for companies anticipating strong investor interest,as reported by Investing.com.ALSO READ: Why is Alphabet stock down today? Key points for investors to trackNavan aims for Nasdaq listing under ticker symbol “NAVN”Navan has applied to list its Class A common stock on the Nasdaq Global Select Market under the ticker symbol “NAVN”, as per the report. Leading the charge for the offering are Goldman Sachs and Citigroup, serving as lead book-running managers, as per the Investing.com report.Live EventsStrong underwriter lineup reflects confidence in Navan’s IPOThe underwriting group is extensive, reflecting the scale of Navan’s market ambitions. Jefferies, Mizuho, and Morgan Stanley are joint bookrunners, while BNP Paribas, Citizens Capital Markets, Oppenheimer & Co., MUFG, Needham & Company, and BTIG round out the additional bookrunners, as reported by Investing.com. Loop Capital Markets, Academy Securities, and Rosenblatt are acting as co-managers, as per the report.ALSO READ: OpenAI launches ChatGPT Atlas browser in open challenge to Google - key points to knowSEC review pending before Navan’s shares become publicly availableThe company has already filed a registration statement on Form S-1 with the US Securities and Exchange Commission (SEC), as per the Investing.com report. However, the filing has not yet become effective, meaning the securities cannot be sold or offered until the SEC grants approval, as per the report.Navan’s all-in-one travel and expense platform explainedNavan operates as an all-in-one business platform that integrates travel management, payments, and expense tracking, streamlining how companies handle corporate travel and spending, as per the Investing.com report.Investor focus: Can Navan become the next enterprise software success storyWhile it remains to be seen how investors will respond once the IPO opens, the move signals Navan’s growing confidence in its market position and its ambition to stand among the next generation of enterprise software leaders, as per the report.FAQsWhy is Navan launching an IPO?Navan is going public to raise capital and expand its presence in the business travel and expense management space.Where will Navan’s stock be listed?Navan plans to list on the Nasdaq Global Select Market under the ticker symbol “NAVN.”Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) Read More News onnavan ipo stock market newsNavan IPONavan stock price rangeNavan IncNavannavan stocknavan nasdaq listingshould i invest in navan iponavan ipo offeringnavan ipo investing (Catch all the US News, UK News, Canada News, International Breaking News Events, and Latest News Updates on The Economic Times.) Download The Economic Times News App to get Daily International News Updates....moreless (You can now subscribe to our Economic Times WhatsApp channel)Read More News onnavan ipo stock market newsNavan IPONavan stock price rangeNavan IncNavannavan stocknavan nasdaq listingshould i invest in navan iponavan ipo offeringnavan ipo investing(Catch all the US News, UK News, Canada News, International Breaking News Events, and Latest News Updates on The Economic Times.) Download The Economic Times News App to get Daily International News Updates....moreless Explore More Stories123
