Company: BLLN
Filing Date: 2025-06-20
Form Type: DRS
Source: 0000950123-25-006095
Chunk: 311

Company: BillionToOne, Inc.
Filing Date: 2025-06-20
Form: DRS
Chunk 311
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 was advanced on July 7, 2023. The fourth tranche of $5.0 million was advanced on October 11, 2023. The term loans have a maturity
date of July 1, 2027. The term loans were interest-only through July 31, 2025, followed by 24 equal payments of principal plus interest. The loans required a final payment of 4.25% of the total advanced amount, which resulted in an exit
fee liability of $1.5 million payable at the maturity of the debt. The final payment was accreted to the debt balance and recognized as interest expense over the term of the loan.

The term loan advances were secured by a lien on the Company’s assets. The Company was subject to certain financial and reporting covenants including a
requirement for the Company to meet certain test volumes, measured quarterly on a trailing two quarter basis.

During August 2024, the Company elected to
prepay the outstanding amount of the term loans of $35.0 million in principal and the $1.5 million exit fee that was due upon early loan payoff. The Company recognized a loss on the extinguishment of debt of $1.3 million in the
statements of operations and comprehensive loss. The loss on extinguishment consisted of incremental expense of $0.8 million unaccreted exit fee liability, $0.3 million unamortized debt issuance costs and a $0.2 million prepayment fee
assessed by the bank.

Oberland Note Purchase Agreement

In August 2024, the Company entered into a note purchase agreement (the “2024 Notes”) with BWCB SA LLC (an entity affiliated with Oberland Capital
Management, LLC (“Oberland Capital”)), which provided the Company with up to four tranches of capital advances totaling up to $140.0 million. The advanced principal accrues interest at a rate of 8.0% per annum. The first tranche of
$50.0 million was advanced on August 5, 2024, with a Maturity Date on the seventh anniversary of the first purchase date (August 31, 2031). The first tranche requires interest-only payments through August 31, 2031 and a lump sum
payment due on August 31, 2031.

The second tranche of up to $35.0 million in principal is available at the Company’s option at any time
prior to September 30,