Corporate travel and expense management software company Navan made its Nasdaq debut Thursday trading under the ticker symbol NAVN. Its comprehensive platform is designed to streamline travel booking experiences, while also providing businesses with solutions for tracking and controlling travel-related spending.
The company announced the pricing for its initial public offering at $25 per share, and trading opened at $22. The offering consisted of 30 million shares of Class A common stock being sold by Navan and approximately 6.9 million shares being sold by existing stockholders.
Wednesday’s pricing announcement put Navan’s valuation at approximately $6.2 billion, according to reporting by Reuters.
“From day one, our focus has been on making travel easy for every frequent traveler. This mission, and our fierce belief in the importance of in-person connections, has driven our efforts to upgrade the travel and expense industry,” the company wrote in a short statement following its official Nasdaq listing.
