Navan Files Updated IPO to Raise up to ~$960M and Pursue $6.45B Valuation

Deal Summary

Corporate travel management company Navan (formerly TripActions) filed updated S-1 documents aiming to sell 30M shares (plus 7M insider shares) with a $24–$26 range, which at the high end would raise about $960M and value the company at $6.45B. The filing was submitted on 2025-10-10 amid a U.S. government shutdown under new SEC rules.