Company: BLLN
Filing Date: 2025-09-17
Form Type: DRS/A
Source: 0001193125-25-206347
Chunk: 122

Company: BillionToOne, Inc.
Filing Date: 2025-09-17
Form: DRS/A
Chunk 122
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. Any future determination to pay dividends will be made at the discretion of our
Board of Directors, subject to applicable laws, and will depend upon, among other factors, our results of operations, financial condition, contractual restrictions, and capital requirements. Our ability to declare or pay dividends is also subject to
the restrictions and limitations set forth in the Note Purchase Agreement. Furthermore, we may also enter into other loan or credit agreements or similar borrowing arrangements that may further restrict our ability to declare or pay dividends on our
Class A common stock. Consequently, investors who purchase Class A common stock in this offering may be unable to realize a return on their investment except by selling such shares after price appreciation, which may never occur. Our
inability or decision not to pay dividends, particularly when others in our industry have elected to do so, could also adversely affect the market price of our Class A common stock.

General risk factors

Our failure to timely and effectively implement controls and procedures required by Section 404 of the Sarbanes-Oxley Act could have a material adverse effect on our business.

As a public company, we
will be required to provide management’s assessment regarding internal control over financial reporting in our second Annual Report on Form 10-K. The standards required for a public company
under Section 404(a) of the Sarbanes-Oxley Act are significantly more stringent than those required of us as a private company. In addition, at such time as we are no longer an “emerging growth company,” we would be required to
comply with the auditor attestation requirements of Section 404(b) of the Sarbanes-Oxley Act requiring our auditors to provide an opinion on the effectiveness of our internal controls over financial reporting. While we have begun implementation
of such controls and procedures, management may not be able to effectively and timely implement controls and procedures that adequately respond to the increased regulatory compliance and reporting requirements that became applicable after the
completion of this offering and, when applicable, upon our ceasing to be an emerging growth company. If we are not able to implement the additional requirements of Section 404 in a timely manner or with adequate compliance, we and our auditors
may not be able to assess whether our internal controls over financial reporting are effective, which may subject us to adverse regulatory consequences and could harm investor confidence and the market price of our Class A common stock.

74

In addition to the material weaknesses in internal control over financial reporting identified in connection with the
preparation of our financial statements,