Navan plows ahead with IPO during shutdown, aims for $6.45B valuation | TechCrunch

Image for article Navan plows ahead with IPO during shutdown, aims for $6.45B valuation | TechCrunch
News Source : TechCrunch

News Summary

  • Corporate travel management company Navan filed updated IPO documents with the U.S. Securities and Exchange Commission on Friday.
  • Navan is proceeding under new SEC rules that allow wanna-be public companies that are in limbo during the shutdown to file updated information.
  • The company plans to sell 30 million shares, with insiders selling an additional 7 million.
  • It priced its range at $24 to $26.
  • At the high-end, the company would raise more than $960 million and be valued at $6.45 billion.
Corporate travel management company Navan once known asTripActions filed updatedIPO documentswith the U.S. Securities and Exchange Commissionon Friday,even though the federal government is c [+1295 chars]

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