Company: BLLN
Filing Date: 2025-08-11
Form Type: DRS/A
Source: 0000950123-25-007483
Chunk: 340

Company: BillionToOne, Inc.
Filing Date: 2025-08-11
Form: DRS/A
Chunk 340
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 million was advanced on August 5, 2024, with a Maturity Date on the seventh anniversary of the first purchase date (August 31, 2031). The first tranche requires interest-only payments through August 31, 2031 and a lump sum
payment due on August 31, 2031.

The second tranche of up to $35.0 million in principal is available at the Company’s option at any time
prior to September 30, 2025 provided that the trailing six-month worldwide net revenue of the Company is at least $80.0 million. The third tranche of up to $30.0 million in principal is
available at the Company’s option at any time prior to March 31, 2026, provided that the trailing six-month Gross Margin of the Company is at least 45%.

F-27

B ILLIONT OO NE, INC. Notes to Financial Statements Gross Margin is defined as (I) net revenue minus cost of goods sold divided by (II) net revenue, expressed as a percentage. The fourth tranche of up to $25.0 million in principal will be made available to the Company at the mutual agreement of the parties at any time prior to March 31, 2026. The Company has the option at any time to prepay all of the then-outstanding notes, and Oberland Capital has the option to redeem the notes upon (i) a change in control of the Company, (ii) an event of default, or (iii) the maturity date. The repayment amount of the note shall equal to the following: (1) 130% of principal amount of notes if the payment is made within 24 months of issuance; (2)145% of principal amounts of notes if the payment is made within 36 months of issuance; (3) if the payment is made within 48 months, an amount that would generate an internal rate of return (“IRR”) for the purchasers of 12.25%; (4) if the payment is made within 60 months of issuance, an amount that would generate an IRR for the purchasers of 11.75%; (5) If the payment is made thereafter but before maturity, an amount that would generate an IRR for the purchasers of 11.25%; and (6) if the payment is made at maturity, an amount that would generate an IRR for the purchasers of 10.0%. Under the terms of the 2024 Notes,