Company: BLLN
Filing Date: 2025-12-10
Form Type: 10-Q
Source: 0001628280-25-056321
Chunk: 196

Company: BillionToOne, Inc.
Filing Date: 2025-12-10
Form: 10-Q
Item: Part I, Item 1
Chunk 196
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Table of ContentsBillionToOne, IncNotes to Unaudited Interim Financial Statements

Expected term (years) 1.50  2.30 Risk-free rate3.50 %4.14 %Dividend yield- %- %The significant assumptions used in preparing the option pricing model for valuing the redeemable convertible preferred stock warrant liability as of September 30, 2025 and December 31, 2024, are as follows:September 30,2025December 31,2024Stock price$42.08 $25.83 Exercise price$2.59 $2.59 Volatility76.1 %84.0 %Expected term (years) 1.50 2.30Risk-free rate3.50 %4.14 %Dividend yield- %- %The fair value of the convertible notes is measured based on the present value of the notes based on the fair market yield to maturity and an estimate of the probability of the notes’ conversion features. The fair market yield was estimated based on publicly traded debt securities with similar maturities and risk. During the nine months ended September 30, 2024, the Company settled the convertible notes through the issuance of Series C-1 redeemable convertible preferred stock to the noteholders (See Note 7).The significant assumptions used in preparing discounted cash flow for valuing the convertible notes as of right before the conversion date of May 15, 2024, are as follows:May 15,2024Principal outstanding (in $’000s)30,000 Expected term (years)- Risk-free rate5.46 %Interest rate8.00 %In August 2024, the Company entered into a new term loan agreement for which the Company elected to account for using the fair value option. As such, the fair value of the debt is calculated by using the probability weighting of the present value of settlement scenarios (See Note 8).The significant assumptions used in preparing the income approach model for valuing the new term loan as of September 30, 2025 and December 31, 2024, are as follows:September 30,2025December 31,2024Discount rate8.02 %9.37 %Annual interest rate8.00 %8.00 %Expected term (years) – Scenario 14.505.