Company: BLLN
Filing Date: 2025-06-20
Form Type: DRS
Source: 0000950123-25-006095
Chunk: 101

Company: BillionToOne, Inc.
Filing Date: 2025-06-20
Form: DRS
Chunk 101
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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 of Class A common stock that you acquire. This dilution is due in large part to the fact that our earlier investors paid substantially less than the initial public offering price when
they purchased their shares. As of June 30, 2025, we had shares of our Class A common stock issuable upon the exercise of outstanding options at a weighted average exercise price of $ per share, of
which were vested as of such date, and additional shares of our Class A common stock reserved for future issuance under our 2018 Plan. See the section of this prospectus titled “Dilution” for additional
information.

Any additional shares of our Class A common stock that we issue, including under our equity incentive plans, would dilute the percentage ownership
and voting power held by the investors who purchase Class A common stock in this offering. In the future, we may also issue additional securities if we need to raise capital, including, in connection with acquisitions