Company: BLLN
Filing Date: 2025-12-10
Form Type: 10-Q
Source: 0001628280-25-056321
Chunk: 321

Company: BillionToOne, Inc.
Filing Date: 2025-12-10
Form: 10-Q
Item: Part II, Item 1A
Chunk 321
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 our operations or those of our competitors;

•developments or disputes concerning our or third-party intellectual property or proprietary rights;

•announced or completed acquisitions of businesses or technologies, or other strategic transactions by us or our competitors;

•actual or perceived breaches of, or failures relating to, privacy, data protection or data security;

•new laws or regulations or new interpretations of existing laws or regulations applicable to our business;

•actual or anticipated changes in our senior management or key personnel;

•expiration of contractual lock-up agreements and market stand-off agreements with our executive officers, directors, employees and stockholders;

•changes in the size or growth of our target markets;

•economic and market conditions in general, including those resulting from geopolitical tensions, tariffs and other trade actions, war, pandemics, terrorism or responses to these events; and

•the realization of any risks described under this “Risk Factors” section, or other risks that may materialize in the future.

Furthermore, the stock market has experienced extreme volatility that in some cases has been unrelated or disproportionate to the operating performance of particular companies. These and other factors may cause the market price and demand for our Class A common stock to fluctuate substantially, which may limit or prevent investors from readily selling their shares of Class A common stock and may otherwise negatively affect the liquidity of our Class A common stock.

Our dual-class capital structure has the effect of concentrating voting power with holders of our Class B common stock, who have significant influence over us and, if acting together, will be able to control matters requiring stockholder approval.

Our Class A common stock has one vote per share and our Class B common stock has 15 votes per share. The holders of our outstanding Class B common stock, Drs. Atay and Tsao, together hold 63.5% of the voting power of our outstanding capital stock.. As a result, Drs. Atay and Tsao are able to exert significant influence over us and, if acting together, will be able to control matters requiring stockholder approval, including the election of our Board of Directors, the adoption of amendments to our  Certificate of Incorporation and  Bylaws and the approval of any merger, consolidation, sale of all or substantially all of our assets or other major corporate transactions. In addition, if our Co-Founders continue to beneficially own shares representing in excess of 50% of the voting power of our outstanding capital stock and determine to act together in the future, we could 

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become eligible to elect the “controlled