01:52 PM EDT, 10/30/2025 (MT Newswires) -- Navan (NAVN) shares were down over 15% in their Nasdaq debut on Thursday after the company priced its initial public offering of 36.9 million shares at $25 each.

Underwriters were granted a 30-day option to purchase up to an additional 5.5 million share of Navan's class A stock, the business travel and expense software provider said on Wednesday.

The offering is expected to close Friday, subject to customary closing conditions, the company said.

Price: 21.10, Change: -3.90, Percent Change: -15.60