Company: BLLN
Filing Date: 2025-06-20
Form Type: DRS
Source: 0000950123-25-006095
Chunk: 308

Company: BillionToOne, Inc.
Filing Date: 2025-06-20
Form: DRS
Chunk 308
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3,085 |     | $ | 3,436 |
| Operating cash flows from financing leases (interest paid): |     |   |   361 |     |   |   243 |
| Total finance lease cost                                    |     | $ | 3,446 |     | $ | 2,619 |

(9) Convertible Notes In September 2022, the Company entered into a Note Purchase Agreement for unsecured Convertible Promissory Notes (the “Notes”) to several note holders (the “Note Holders”) with a principal sum of $30.0 million together with interest thereon from the date of the Notes. The Notes accrue interest at a rate of 8.0% per annum, simple interest. The Notes were scheduled to mature on September 20, 2024, and the Company may not make prepayments without written consent of the majority Note holders. F-25

B ILLIONT OO NE, INC.

Notes to Financial Statements

Holders of the Notes could have converted their notes into shares of common stock at or after an initial
public offering at a conversion price dependent on the initial price per share offered in connection with the initial public offering; or 70% of the price per share payable to common stockholders in connection with another liquidation event.

Upon the Company’s next equity financing, the Notes could have automatically converted into the equity issued in that financing (which was expected to be
Series D redeemable convertible preferred stock) at a conversion price equal to the lower of 70% of the next equity price per share and an amount calculated by dividing a valuation cap of $1 billion by the fully diluted number of shares.

Due to the presence of certain embedded derivatives within the Notes, the Company elected to account for the Notes using the fair value option and changes in
fair value related to the Notes are recorded in other income (expense) in the Company’s statements of operations and comprehensive loss. Changes in fair value attributable to credit risk are immaterial to the financial statements as of
December 31, 2023 and 2024. Inputs for fair value were determined by evaluating the probability of various conversion scenarios and applicable market interest rates.

The estimated fair value of the Notes was determined by using a scenario-based analysis that estimated the fair value of the Notes based on the
probability-weighted present value of expected future investment returns, considering possible outcomes available to the noteholder, including conversions to common stock and maturity. The estimated fair value of the Notes