Company: BLLN
Filing Date: 2025-10-07
Form Type: S-1
Source: 0001193125-25-233697
Chunk: 115

Company: BillionToOne, Inc.
Filing Date: 2025-10-07
Form: S-1
Chunk 115
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 more of these analysts cease coverage of us or fail to publish reports on us regularly, demand for our Class A common
stock could decrease, which may cause the market price of our Class A common stock and trading volume to decline.

In addition, the stock prices of many
companies in the precision diagnostics industry have declined significantly after those companies failed to meet the financial guidance publicly announced by the companies or the expectations of analysts, and stock prices have even declined
significantly after such companies exceeded, or even significantly exceeded, such guidance or expectations. If our financial results fail to meet any guidance we announce, or the expectations of analysts or public investors, or even if our financial
results exceed, or even significantly exceed, any such guidance or expectations, or if we reduce any such guidance for future periods, the market price of our Class A common stock may decline.

We will have broad discretion in the use of the net proceeds from this offering and may not use them effectively.

We will have considerable discretion in the application of the net proceeds of this offering, including for any of the purposes described in the section of this
prospectus titled “Use of proceeds,” and you will not have the opportunity as part of your investment decision to assess whether the net proceeds are being used appropriately. Investors will need to rely upon the judgment of our
management with respect to the use of such net proceeds. Pending their use, we may invest the net proceeds from this offering in short-term, investment-grade, interest-bearing securities, such as money market accounts, certificates of deposit,
commercial paper, and guaranteed obligations of the U.S. government, which may not produce income or may lose value. If we do not use the net proceeds that we receive in this offering effectively, our business, financial condition and results
of operations could be harmed and the market price of our Class A common stock could decline.

As the initial public offering price is substantially higher than our net tangible book value per share of Class A common stock, you will incur immediate and substantial dilution.

If you purchase
Class A common stock in this offering, you will experience substantial and immediate dilution in the pro forma net tangible book value per share after giving effect to this offering of $ per share as of
, 2025, based on the initial public offering price of $ per share of Class A common stock, the midpoint of the estimated offering price range on the cover page of this prospectus, because the price that
you pay will be substantially greater than the pro forma net tangible book value per share