Company: BLLN
Filing Date: 2025-10-07
Form Type: S-1
Source: 0001193125-25-233697
Chunk: 368

Company: BillionToOne, Inc.
Filing Date: 2025-10-07
Form: S-1
Chunk 368
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 the right to put the warrants back to the Company for cash equal to the greater of (x) $412,500 or (y) the value of the aggregate consideration payable to WAB had WAB exercised the warrants immediately prior to exercise such put right. All the warrants issued to WAB are puttable warrants and thus are liability classified. The warrants were initially recognized at fair value with any subsequent changes in fair value to be recorded in other income (expense) in the statements of operations and comprehensive loss (See Note 3). F-29

B ILLIONT OO NE, INC. Notes to Financial Statements The issuance date fair value of the warrants was determined using the option pricing model, with the following assumptions:

| Grant date                  |     | 2021 LSA | October 12, 2021 |   |     | 2022 LSA  
 Amendment | July 22, 2022 |   |
|:----------------------------|:----|:---------|-----------------:|:--|:----|:----------|--------------:|:--|
| Dividend yield              |     |          |                0 | % |     |           |             0 | % |
| Risk-free interest rate     |     |          |             1.59 | % |     |           |          2.77 | % |
| Expected volatility         |     |          |               70 | % |     |           |            78 | % |
| Expected term (in years)    |     |          |            10.00 |   |     |           |         10.00 |   |
| Total grant date fair value |     | $        |          169,592 |   |     | $         |       311,685 |   |

The fair value of the warrants as of their respective issuance dates were recorded as a debt discount that is being amortized to interest expense over the term of the loan. (11) Common Stock As of December 31, 2023 and 2024, the Company’s Certificate of Incorporation, as amended, authorized the Company to issue 42,176,761 and 51,100,000 shares of common stock with a par value of $0.00001, respectively. Total common stock outstanding as of December 31, 2023 and 2024 was 10,572,061 and 10,925,950, respectively. Each share of common stock is entitled to one vote. The holders of