Company: BLLN
Filing Date: 2025-09-17
Form Type: DRS/A
Source: 0001193125-25-206347
Chunk: 363

Company: BillionToOne, Inc.
Filing Date: 2025-09-17
Form: DRS/A
Chunk 363
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 to make revenue participation payments under the agreement. The term loan advances are secured by a lien on the Company’s assets.

F-28

B ILLIONT OO NE, INC. Notes to Financial Statements The Company elected to account for the 2024 Notes using the fair value option and changes in fair value related to the 2024 Notes are recorded in change in fair value of term loan on the Company’s statements of operations and comprehensive loss. The Company also elected to present interest incurred on the 2024 Notes in the change in fair value of the term loan; interest expense under the Oberland Capital arrangement was $1.6 million for the year ended December 31, 2024. The Company’s total indebtedness as of December 31, 2023 and 2024 is as follows (in thousands):

| As of December 31:                 |     | 2023 |        |   |     | 2024 |        |
|:-----------------------------------|:----|:-----|-------:|:--|:----|:-----|-------:|
| Long-term debt                     |     | $    | 35,000 |   |     | $    | 51,481 |
| Plus: accreted exit fee            |     |      |    441 |   |     |      |      - |
| Less: unamortized debt discount    |     |      |   (441 | ) |     |      |      — |
| Long-term debt, net                |     |      | 35,000 |   |     |      | 51,481 |
| Less: current portion              |     |      |      - |   |     |      |      - |
| Long-term debt, noncurrent portion |     | $    | 35,000 |   |     | $    | 51,481 |

Future principal payments of the Company’s long-term debt as of December 31, 2024 of $50.0 million is due during the year ending December 31, 2031. Redeemable Convertible Preferred Stock Warrants The Company has issued Comerica Bank a warrant to purchase 9,660 Series A-6redeemable convertible preferred shares at an exercise price of $2.59 per share in connection with a former loan and security agreement entered into in March 2020. The warrants are exercisable until March 15, 2030. The warrants are classified as liabilities on the Company’s