Company: BLLN
Filing Date: 2025-10-07
Form Type: S-1
Source: 0001193125-25-233697
Chunk: 132

Company: BillionToOne, Inc.
Filing Date: 2025-10-07
Form: S-1
Chunk 132
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92 per share;                                                                                            |

| • |     | shares of our Class A common stock reserved for future issuance under our 2025 Plan, which                                                                                                                                                           
 will become effective upon the effectiveness of the registration statement of which this prospectus forms a part, as well as any future increases in the number of shares of our Class A common stock reserved for issuance under the 2025 Plan; and |

| • |     | shares of our Class A common stock reserved for future issuance under                                                                                                                                                                             
 the ESPP, which will become effective upon the effectiveness of the registration statement of which this prospectus forms a part, as well as any future increases in the number of shares of our Class A common stock reserved for issuance under 
 the ESPP.                                                                                                                                                                                                                                         |

85

Dilution If you invest in our Class A common stock in this offering, your ownership interest will be diluted to the extent of the difference between the initial public offering price per share of our Class A common stock and the pro forma as adjusted net tangible book value per share of our Class A common stock immediately after this offering. Our historical net tangible book value (deficit) as of June 30, 2025 was $(249) million, or $(22.46) per share. Our historical net tangible book value (deficit) per share represents our total tangible assets less our total liabilities and redeemable convertible preferred stock (which is not included within stockholders’ (deficit) equity), divided by the number of shares of common stock outstanding as of June 30, 2025. Our pro forma net tangible book value as of June 30, 2025, was $ million, or $ per share. Our pro forma net tangible book value per share represents our total tangible assets less our total liabilities, divided by the number of shares of Class A and Class B common stock outstanding as of June 30, 2025, after giving effect to: (i) the Preferred Stock Conversion, (ii) the conversion of the A-6Warrant to a warrant to purchase common stock and the related reclassification of the warrant liability to stockholders’ equity, and (iii) the filing and effectiveness of our Post-IPOCertificate of Incorporation, all of which will occur immediately prior to the completion of this offering. Our pro forma as adjusted net tangible book value represents our pro forma net tangible book value after giving further effect to the sale of shares of Class A common stock in this offering at an assumed initial public offering price of $ per share,