Navan and MapLight Lead Post-Shutdown US IPO Revival with Nearly $1.2 B Raised

Corporate travel platform Navan and biotech firm MapLight Therapeutics spearheaded the rebound of US IPOs after the October government shutdown. Navan priced its debut at $27 per share, raising $923 million at an $8.1 billion valuation, while MapLight secured $251 million at $17 per share. Both listings were oversubscribed, marking renewed investor appetite in tech and biotech. The Nasdaq IPO Index climbed 4.2 percent post-launch, outperforming the S&P 500. Analysts said strong pricing momentum signals investor rotation back into growth sectors as monetary-policy uncertainty subsides.