Navan plows ahead with IPO during shutdown, targeting a $6.45B valuation despite market uncertainty.
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Navan IPO Targets $6.45B Amid Shutdown
Navan Plows Ahead With IPO During Shutdown, Aims For $6.45B Valuation Corporate travel management firm Navan — formerly known as TripActions — is moving forward with its public debut despite a U.S. government shutdown. The company’s bold move has captured industry attention as Navan plows ahead with IPO during shutdown, aims for $6.45B valuation , defying market expectations. Image Credits:PM Images / Getty Images Navigating The IPO Amid A Shutdown On Friday, Navan filed updated IPO documents with the U.S. Securities and Exchange Commission (SEC). Thanks to a new SEC rule, companies like Navan can proceed with their filings even when federal staff are unavailable due to a shutdown. This rule automatically approves IPO statements within 20 days unless staff later raise issues or require amendments. While Navan’s move signals confidence, it also comes with risks. Most companies prefer the traditional green light from SEC staff before launching a public offering — making Navan’s decision a rar…
