Company: BLLN
Filing Date: 2025-10-07
Form Type: S-1
Source: 0001193125-25-233697
Chunk: 363

Company: BillionToOne, Inc.
Filing Date: 2025-10-07
Form: S-1
Chunk 363
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 or $562,500, due upon the earlier of maturity or termination of the loan. The final payment was accreted to interest expense over the term of
the loan. The term loan advances are secured by a lien on the Company’s assets.

In July 2022, the Company amended its October 2021 loan and
security agreement with WAB, such that WAB made four tranches of capital advances available to the Company for an aggregate amount up to $35.0 million (“2022 LSA Amendment”). The advanced principal will accrue interest based on the
floating prime rate per annum, which was 8.5% at December 31, 2023.

Under the 2022 LSA Amendment, the first tranche of $20.0 million in
principal was advanced on July 22, 2022 and was used to pay off the existing $15.0 million in principal outstanding to WAB under the 2021 LSA, resulting in net proceeds to the Company of $5.0 million. The second tranche of
$5.0 million in principal was advanced on January 25, 2023 and the third tranche of $5.0 million in principal was advanced on July 7, 2023. The fourth tranche of $5.0 million was advanced on October 11, 2023. The term
loans have a maturity date of July 1, 2027. The term loans were interest-only through July 31, 2025, followed by 24 equal payments of principal plus interest. The loans required a final payment of 4.25% of the total advanced amount, which
resulted in an exit fee liability of $1.5 million payable at the maturity of the debt. The final payment was accreted to the debt balance and recognized as interest expense over the term of the loan.

The term loan advances were secured by a lien on the Company’s assets. The Company was subject to certain financial and reporting covenants including a
requirement for the Company to meet certain test volumes, measured quarterly on a trailing two quarter basis.

During August 2024, the Company elected to
prepay the outstanding amount of the term loans of $35.0 million in principal and the $1.5 million exit fee that was due upon early loan payoff. The Company recognized a loss on the extinguishment of debt of $1.3 million in the
statements of operations and comprehensive loss. The