Navan aims for a $6.45 billion valuation in its U.S. IPO despite the government shutdown. It plans to raise $960 million by offering 36.92 million shares priced between $24 and $26 each. Market volatility is easing, with strong IPO debuts boosting investor sentiment, but the shutdown poses a risk to the recovery. Navan was valued at $9.2 billion in 2022 after a Series G funding round. Founded in 2015 as TripActions, Navan now offers corporate travel, payments, and expense management services globally. Underwriters for the IPO include Goldman Sachs, Citigroup, and Morgan Stanley.

Read more at Yahoo Finance: Travel tech firm Navan eyes $6.45 billion valuation in US IPO