Company: BLLN
Filing Date: 2025-10-07
Form Type: S-1
Source: 0001193125-25-233697
Chunk: 353

Company: BillionToOne, Inc.
Filing Date: 2025-10-07
Form: S-1
Chunk 353
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 in preparing the option pricing model for valuing the redeemable convertible preferred stock warrant liability as of December 31, 2023 and 2024 are as follows:

|                       |     | December 31, |  2023 |   |     |   |  2024 |   |
|:----------------------|:----|:-------------|------:|:--|:----|:--|------:|:--|
| Stock price           |     | $            | 17.45 |   |     | $ | 25.83 |   |
| Exercise price        |     | $            |  2.59 |   |     | $ |  2.59 |   |
| Volatility            |     |              |  60.0 | % |     |   |  84.0 | % |
| Expected term (years) |     |              |   1.5 |   |     |   |   2.3 |   |
| Risk-free rate        |     |              |  4.50 | % |     |   |  4.14 | % |
| Dividend yield        |     |              |     - | % |     |   |     - | % |

The fair value of the convertible notes is measured based on the present value of the notes based on the fair market yield to maturity and an estimate of the probability of the notes’ conversion features. The fair market yield was estimated based on publicly traded debt securities with similar maturities and risk. During the year ended December 31, 2024, the Company settled the convertible notes through the issuance of Series C-1redeemable convertible preferred stock to the noteholders (See Note 9). F-18

B ILLIONT OO NE, INC. Notes to Financial Statements The significant assumptions used in preparing discounted cash flow for valuing the convertible notes as of December 31, 2023 and right before the conversion date May 15, 2024 are as follows:

|                                   |     |     | December 31, 
         2023 |   |     |     | May 15, 
    2024 |   |
|:----------------------------------|:----|:----|-------------:|:--|:----|:----|--------:|:--|
| Principal outstanding (in $’000s) |     |     |       30,000 |   |     |