Company: BLLN
Filing Date: 2025-10-07
Form Type: S-1
Source: 0001193125-25-233697
Chunk: 404

Company: BillionToOne, Inc.
Filing Date: 2025-10-07
Form: S-1
Chunk 404
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, and BWCB SA LLC (an entity affiliated with Oberland Capital), as purchaser’s agent (the Note Purchase Agreement). As of June 30, 2025, we have drawn $50 million under the debt facility. The advanced principal accrues interest at a rate of 8.0% per annum. Under the Note Purchase Agreement, subject to the terms and conditions set forth in such Agreement, we have the option, but not the obligation, to issue and sell an additional two separate tranches of notes in the amounts of $35.0 million and $25.0 million, and an obligation to sell a tranche of notes in the amount of $30.0 million prior to March 31, 2026 as we have crossed the thresholds triggering this obligation. The thresholds are trailing six-month revenue of at least $112.5 million and a trailing six-month gross margin (as defined in the Note Purchase Agreement) of at least 45%. II-2

Redeemable convertible preferred stock

| • |     | Between March 2022 and September 2022, we issued an aggregate of 5,628,825 shares of Series C redeemable convertible                                                   
 preferred stock at a cash purchase price of $25.4937 per share to for an aggregate purchase price of approximately $143.5 million to thirty-nine accredited investors. |

| • |     | In May 2024, we issued an aggregate of 4,656,233 shares of Series D redeemable convertible preferred stock at a cash                      
 purchase price of $28.0204 per share for an aggregate purchase price of approximately $130.5 million to thirty-five accredited investors. |

Options

| • |     | We have granted options to purchase 13,990,563 shares of common stock to employees, directors and other service providers                                                                                                                
 pursuant to our 2018 Stock Plan, with per share exercise prices ranging from $0.06 to $30.78. Since January 1, 2022, 834,783 shares of common stock have been issued upon the exercise of stock options pursuant to the 2018 Stock Plan. |

Warrants

| • |     | In July 2022, we issued a warrant to purchase up to 41,209 shares of common stock with an exercise price of                                                                                                                                     
 $10.92 per share to one accredited investor; 30,907 warrants were exercisable upon execution of the agreement; the remaining warrants became exercisable as we made additional draws on the