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Navan IPO tumbles 20% after historic debut under SEC shutdown workaround
NavanNavan(US:NAVN) TechCrunch·2025-10-31 05:41

Navan, the corporate travel and expense platform, finished its first day of trading on the Nasdaq on Thursday down 20% from its 25IPOprice,resultinginavaluationofapproximately25 IPO price, resulting in a valuation of approximately 4.7 billion for the 10-year-old company.The company was the first to use a new SEC rule that allows public listings during a government shutdown. Unlike the traditional IPO path, which requires SEC regulators to review and grant final approval, companies using the shutdown workaround can get automatic approval for their IPO ...