Travel Software Firm Navan, Holders Raise $923 Million in IPO

Navan Inc., a business travel and expense management software maker, and some of its shareholders raised $923.1 million in a US initial public offering priced in the middle of the marketed range.

The Palo Alto, California-based company sold 30 million shares, and shareholders including Navan’s co-founders, Chief Executive Officer Ariel Cohen and Chief Technology Officer Ilan Twig, sold 6.9 million shares for $25 per share, according to a statement, after marketing them for $24 to $26 each.