Company: BLLN
Filing Date: 2025-09-17
Form Type: DRS/A
Source: 0001193125-25-206347
Chunk: 385

Company: BillionToOne, Inc.
Filing Date: 2025-09-17
Form: DRS/A
Chunk 385
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| Expected term (years)             |     |         |      - |   |
| Risk-free rate                    |     |         |   5.46 | % |
| Interest rate                     |     |         |   8.00 | % |

In August 2024, the Company entered into a new term loan agreement for which the Company elected to account for using the fair value option. As such, the fair value of the debt is calculated by using the probability weighting of the present value of settlement scenarios (See Note 9). The significant assumptions used in preparing the income approach model for valuing the new term loan as of December 31, 2024 and June 30, 2025, are as follows:

|                                    |     |     | December 31, 
         2024 |   |     |     | June 30, 
     2025 |   |
|:-----------------------------------|:----|:----|-------------:|:--|:----|:----|---------:|:--|
| Discount rate                      |     |     |         9.37 | % |     |     |     9.22 | % |
| Annual interest rate               |     |     |         8.00 | % |     |     |     8.00 | % |
| Expected term (years) – Scenario 1 |     |     |         5.32 |   |     |     |     4.75 |   |
| Expected term (years) – Scenario 2 |     |     |         6.69 |   |     |     |     6.10 |   |

The common stock warrants, redeemable convertible preferred stock warrants, convertible notes and term loan are all classified as Level 3 fair value measurements due to the lack of relevant observable market data for the respective fair value inputs for each instrument. The following table presents a summary of the changes in the fair value of the Company’s Level 3 financial instruments (in thousands):

|                              |     | Common Stock 
 Warrants     |       |     | Redeemable      
 Convertible     
 Preferred Stock 
 Warrants        |     |     | Convertible 
 Notes       |         |   |
|:-----------------------------|:----|:-------------|------:|:----|:----------------|----:|:----|:------------|--------:|:--|
| Balance at December 31, 2023 |     | $            | 1