"Fenwick Advises Underwriters in Navan's $923 Million IPO"

"Fenwick represented the underwriters in Navan, Inc.'s initial public offering, raising $923 million through the sale of Class A common stock at $25 per share. Navan is a business travel, payments, and expense management platform. The offering, led by Goldman Sachs and Citigroup, closed on October 31, 2025."

Fenwick represented the underwriters, while Goldman Sachs & Co. LLC and Citigroup acted as lead book-running managers, in Navan, Inc.’s (Nasdaq: “NAVN”) initial public offering. The transaction involved a total offering size of $923 million, consisting of 30,000,000 shares of Class A common stock sold by Navan and 6,924,406 shares of Class A common stock sold by existing stockholders at an initial public offering price of $25.00 per share. The offering closed on October 31, 2025. Navan is an all-in-one business travel, payments, and expense management platform designed for frequent travelers. The Fenwick transaction team included corporate partners Ran Ben-Tzur, Cindy Hess, Jen Hitchcock, and Aman Singh, as well as associates Lexi Smith, Warren Pugash, and Ross Willmot.

"Fenwick Advises Underwriters in Navan's $923 Million IPO"

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