Company: BLLN
Filing Date: 2025-06-20
Form Type: DRS
Source: 0000950123-25-006095
Chunk: 117

Company: BillionToOne, Inc.
Filing Date: 2025-06-20
Form: DRS
Chunk 117
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 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, the midpoint of the estimated offering price range set forth on the cover page of this prospectus, after deducting underwriting discounts and commissions and estimated offering expenses payable by us. Our pro forma as adjusted net tangible book value as of June 30, 2025, was $ million, or $ per share. This amount represents an immediate increase in pro forma as adjusted net tangible book value of $ per share to our existing stockholders and an immediate dilution of $ per share to new investors participating in this offering. We determine dilution per share to investors participating in this offering by subtracting pro forma as adjusted net tangible book value per share after this offering from the assumed initial public offering price per share paid by investors participating in this offering. The following table illustrates this dilution on a per share basis to new investors (without giving effect to any exercise by the underwriters of their option to purchase additional shares):

| Assumed initial public offering price per share                                                             
 Historical net tangible book value (deficit) per share as of June 30, 2025                                  
 Increase in net tangible book value per share as of June 30, 2025 attributable to the pro forma             
 adjustments described above                                                                                 |     |     |     |   |
|:------------------------------------------------------------------------------------------------------------|:----|:----|:----|:--|
| Pro forma net tangible book value per share as of June 30, 2025                                             |     |     |     |   |
| Increase in pro forma net tangible book value per share attributable to new investors participating in this 
 offering                                                                                                    |     |     |     |   |
| Pro forma as adjusted net tangible book value per share after this offering                                 |     |     |     |   |
| Dilution per share to new investors purchasing Class A common stock in this offering                        |     |     |     | $ |

The dilution information discussed above is illustrative only and will change based on the actual initial public offering price and other terms of this offering determined at pricing. 83

Each $1.00 increase or decrease in the assumed initial public offering price of $ per share, the midpoint