Company: BLLN
Filing Date: 2025-09-17
Form Type: DRS/A
Source: 0001193125-25-206347
Chunk: 59

Company: BillionToOne, Inc.
Filing Date: 2025-09-17
Form: DRS/A
Chunk 59
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 dilute the ownership of our stockholders. If the market price of our Class A common stock is low or volatile, we may not be able to acquire other companies or fund a joint venture project using our stock as consideration. Also, the anticipated benefit of any strategic alliance, joint venture or acquisition may not materialize or such strategic alliance, joint venture or acquisition may be prohibited. For example, our debt facility with Oberland Capital Management LLC (Oberland Capital) restricts our ability to pursue certain mergers, acquisitions, or consolidations that we may believe to be in our best interest. Additionally, future acquisitions or dispositions could result in potentially dilutive issuances of our equity securities, the incurrence of debt, contingent liabilities or amortization expenses or write-offs of goodwill, any of which could harm our financial condition. We cannot predict the number, timing or size of future joint ventures or acquisitions, or the effect that any such transactions might have on our operating results. New product development and commercialization involve a lengthy and complex process and we may be unable to develop or commercialize new products on a timely basis or at all. Our products have taken time and considerable resources to develop, and we may not be able to complete the development and commercialization of new products on a timely basis, or at all. Before we can commercialize any new products, we may need to expend significant funds to:

| • |     | conduct substantial research and development, including validation studies; |

| • |     | find appropriate third party collaborators to conduct clinical studies; |

| • |     | further develop and scale our laboratory processes to accommodate different products; and |

| • |     | further develop and scale our infrastructure to be able to analyze increasingly large amounts of data. |

Our product development process involves a high degree of risk, and product development efforts may fail for many reasons, including:

| • |     | failure of the product to perform as expected, including defects and errors; |

| • |     | inability to pass validation required by regulatory requirements; |

| • |     | inability to find appropriate samples for clinical validity and utility studies; |

| • |     | failure to demonstrate the clinical validity or utility of the product; |

| • |     | inability to obtain necessary reimbursement by commercial or government payors; |

| • |     | unattractive economics due to unexpected higher costs of the final version of the product; or |

| • |     | high cost of commercialization. |

Our development plan involves using data and