Zone Healthcare and Farallon disclose 7.6% and 9.7% holdings in Beta Bionics

Rhea-AI Filing Summary

This Schedule 13G/A discloses significant beneficial ownership positions in Beta Bionics common stock by Zone Healthcare, multiple Farallon-managed funds, their management company and numerous Farallon individual reporting persons. Zone Healthcare Holdings, LLC and Farallon Capital Management, L.L.C. are each reported with shared voting and dispositive power over 3,277,220 shares (7.6% of the class). Several Farallon funds disclose smaller direct holdings (examples include 166,877 and 380,597 shares). A set of Farallon individual reporting persons are each shown with an aggregate beneficial amount of 4,203,920 shares (9.7% of the class), and the filing states these individuals may be deemed beneficial owners based on their roles while disclaiming beneficial ownership.

The filing is submitted pursuant to the passive investor provision of the rules and includes a certification that the securities were not acquired to change or influence control. The Reporting Persons indicate they neither affirm nor disclaim the existence of a group among them and include standard power-of-attorney signatures for the reporting entities and individuals.

Positive

• Zone Healthcare and Farallon report shared voting/dispositive power over 3,277,220 shares (7.6% of class)
• Farallon individual reporting persons are disclosed with an aggregate beneficial amount of 4,203,920 shares (9.7% of class)
• Filing made under the passive investor rule (Section 13d-1(c)), with a certification that shares were not acquired to change or influence control

Negative

• None.

Insights

Securities Analyst

TL;DR: Farallon-related entities report meaningful passive stakes—Zone/Farallon show 7.6% via ZHH LLC and individuals listed at 9.7% aggregate.

The Schedule 13G/A documents material passive positions in Beta Bionics by multiple Farallon-managed vehicles and affiliated individuals. The clear presentation of shared voting and dispositive power for 3,277,220 shares (7.6%) via Zone/Farallon entities and the listing of 4,203,920 shares (9.7%) under individual reporting persons are the most consequential data points for holders and observers. Filing under the passive investor rule signals no current intent to influence control, which limits immediate governance implications but identifies concentrated ownership that investors should monitor through subsequent filings.

Corporate Governance Expert

TL;DR: Ownership concentrations are material but declared passive; governance impact is currently limited by disclaimers and the 13G filing route.

The disclosure shows multiple affiliated entities and senior managers connected to the same investment adviser structure, with reporting lines that could create de facto coordination despite legal disclaimers. The filing explicitly states the Reporting Persons "neither disclaim nor affirm the existence of a group," and individual managers are listed as having potential investment discretion. Because this is a Schedule 13G/A filed under the passive-investor provision, the stated posture is non-control; however, the aggregated percentages—especially the 9.7% figure noted for individual reporting persons—represent a meaningful ownership block from a governance perspective if holdings were to change or be recharacterized.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

Beta Bionics, Inc.

(Name of Issuer)

Common Stock, $0.0001 par value per share (the "Shares")

(Title of Class of Securities)

08659B102

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 08659B102

1

Names of Reporting Persons

Zone Healthcare Holdings, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 3,277,220.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 3,277,220.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,277,220.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.6 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP No. 08659B102

1

Names of Reporting Persons

Farallon Capital Partners, L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

CALIFORNIA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 166,877.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 166,877.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

166,877.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.4 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP No. 08659B102

1

Names of Reporting Persons

Farallon Capital Institutional Partners, L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

CALIFORNIA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 169,691.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 169,691.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

169,691.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.4 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP No. 08659B102

1

Names of Reporting Persons

Farallon Capital Institutional Partners II, L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

CALIFORNIA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 63,840.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 63,840.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

63,840.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.1 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP No. 08659B102

1

Names of Reporting Persons

Farallon Capital Institutional Partners III, L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 43,138.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 43,138.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

43,138.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.1 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP No. 08659B102

1

Names of Reporting Persons

Four Crossings Institutional Partners V, L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 42,216.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 42,216.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

42,216.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.1 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP No. 08659B102

1

Names of Reporting Persons

Farallon Capital Offshore Investors II, L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 380,597.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 380,597.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

380,597.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.9 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP No. 08659B102

1

Names of Reporting Persons

Farallon Capital (AM) Investors, L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 26,029.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 26,029.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

26,029.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.1 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP No. 08659B102

1

Names of Reporting Persons

Farallon Capital F5 Master I, L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 34,312.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 34,312.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

34,312.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.1 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP No. 08659B102

1

Names of Reporting Persons

Farallon Capital Management, L.L.C.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 3,277,220.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 3,277,220.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,277,220.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.6 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP No. 08659B102

1

Names of Reporting Persons

Farallon Partners, L.L.C.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 892,388.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 892,388.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

892,388.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

2.1 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP No. 08659B102

1

Names of Reporting Persons

Farallon F5 (GP), L.L.C.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 34,312.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 34,312.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

34,312.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.1 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP No. 08659B102

1

Names of Reporting Persons

Farallon Institutional (GP) V, L.L.C.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 42,216.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 42,216.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

42,216.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.1 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP No. 08659B102

1

Names of Reporting Persons

Dapice Joshua J.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 4,203,920.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 4,203,920.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,203,920.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.7 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

CUSIP No. 08659B102

1

Names of Reporting Persons

Dreyfuss, Philip D.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 4,203,920.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 4,203,920.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,203,920.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.7 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

CUSIP No. 08659B102

1

Names of Reporting Persons

Dunn Hannah E.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 4,203,920.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 4,203,920.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,203,920.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.7 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

CUSIP No. 08659B102

1

Names of Reporting Persons

Fried, Richard B

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 4,203,920.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 4,203,920.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,203,920.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.7 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

CUSIP No. 08659B102

1

Names of Reporting Persons

Gehani, Varun N.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 4,203,920.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 4,203,920.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,203,920.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.7 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

CUSIP No. 08659B102

1

Names of Reporting Persons

Giauque, Nicolas

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

FRANCE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 4,203,920.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 4,203,920.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,203,920.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.7 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

CUSIP No. 08659B102

1

Names of Reporting Persons

Kim, David T.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 4,203,920.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 4,203,920.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,203,920.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.7 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

CUSIP No. 08659B102

1

Names of Reporting Persons

Linn, Michael G.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 4,203,920.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 4,203,920.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,203,920.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.7 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

CUSIP No. 08659B102

1

Names of Reporting Persons

Luo Patrick (Cheng)

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

CHINA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 4,203,920.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 4,203,920.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,203,920.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.7 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

CUSIP No. 08659B102

1

Names of Reporting Persons

Patel, Rajiv A.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 4,203,920.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 4,203,920.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,203,920.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.7 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

CUSIP No. 08659B102

1

Names of Reporting Persons

Roberts, Jr., Thomas G.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 4,203,920.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 4,203,920.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,203,920.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.7 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

CUSIP No. 08659B102

1

Names of Reporting Persons

Saito Edric C.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 4,203,920.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 4,203,920.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,203,920.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.7 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

CUSIP No. 08659B102

1

Names of Reporting Persons

Seybold, William

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 4,203,920.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 4,203,920.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,203,920.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.7 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

CUSIP No. 08659B102

1

Names of Reporting Persons

Short Daniel S.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 4,203,920.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 4,203,920.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,203,920.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.7 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

CUSIP No. 08659B102

1

Names of Reporting Persons

Spokes, Andrew J. M.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED KINGDOM

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 4,203,920.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 4,203,920.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,203,920.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.7 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

CUSIP No. 08659B102

1

Names of Reporting Persons

Warren, John R.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 4,203,920.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 4,203,920.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,203,920.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.7 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

CUSIP No. 08659B102

1

Names of Reporting Persons

Wehrly, Mark C.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 4,203,920.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 4,203,920.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,203,920.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.7 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Beta Bionics, Inc.
(b)	Address of issuer's principal executive offices: 11 Hughes, Irvine, California, 92618
Item 2.
(a)	Name of person filing: This statement is filed by the entities and persons listed below, all of whom together are referred to herein as the "Reporting Persons." (i) Zone Healthcare Holdings, LLC, a Delaware limited liability company ("ZHH LLC"), with respect to the Shares held by it; (ii) Farallon Capital Partners, L.P., a California limited partnership ("FCP"), with respect to the Shares held by it; (iii) Farallon Capital Institutional Partners, L.P., a California limited partnership ("FCIP"), with respect to the Shares held by it; (iv) Farallon Capital Institutional Partners II, L.P., a California limited partnership ("FCIP II"), with respect to the Shares held by it; (v) Farallon Capital Institutional Partners III, L.P., a Delaware limited partnership ("FCIP III"), with respect to the Shares held by it; (vi) Four Crossings Institutional Partners V, L.P., a Delaware limited partnership ("FCIP V"), with respect to the Shares held by it; (vii) Farallon Capital Offshore Investors II, L.P., a Cayman Islands exempted limited partnership ("FCOI II"), with respect to the Shares held by it; (viii) Farallon Capital (AM) Investors, L.P., a Delaware limited partnership ("FCAMI"), with respect to the Shares held by it; and (ix) Farallon Capital F5 Master I, L.P., a Cayman Islands exempted limited partnership ("F5MI"), with respect to the Shares held by it. FCP, FCIP, FCIP II, FCIP III, FCIP V, FCOI II, FCAMI and F5MI are together referred to herein as the "Farallon Funds." (x) Farallon Capital Management, L.L.C., a Delaware limited liability company (the "Management Company"), which is the manager of ZHH LLC, with respect to the Shares held by ZHH LLC. (xi) Farallon Partners, L.L.C., a Delaware limited liability company (the "Farallon General Partner"), which is (i) the general partner of each of FCP, FCIP, FCIP II, FCIP III, FCOI II and FCAMI, and (ii) the sole member of the FCIP V General Partner (as defined below), with respect to the Shares held by each of the Farallon Funds other than F5MI. (xii) Farallon Institutional (GP) V, L.L.C., a Delaware limited liability company (the "FCIP V General Partner"), which is the general partner of FCIP V, with respect to the Shares held by FCIP V. (xiii) Farallon F5 (GP), L.L.C., a Delaware limited liability company (the "F5MI General Partner"), which is the general partner of F5MI, with respect to the Shares held by F5MI. (xiv) The following persons, each of whom is a managing member or senior managing member, as the case may be, of the Management Company and the Farallon General Partner and a manager or senior manager, as the case may be, of the FCIP V General Partner and the F5MI General Partner, with respect to the Shares held by ZHH LLC and the Farallon Funds: Joshua J. Dapice ("Dapice"); Philip D. Dreyfuss ("Dreyfuss"); Hannah E. Dunn ("Dunn"); Richard B. Fried ("Fried"); Varun N. Gehani ("Gehani"); Nicolas Giauque ("Giauque"); David T. Kim ("Kim"); Michael G. Linn ("Linn"); Patrick (Cheng) Luo ("Luo"); Rajiv A. Patel ("Patel"); Thomas G. Roberts, Jr. ("Roberts"); Edric C. Saito ("Saito"); William Seybold ("Seybold"); Daniel S. Short ("Short"); Andrew J. M. Spokes ("Spokes"); John R. Warren ("Warren"); and Mark C. Wehrly ("Wehrly"). Dapice, Dreyfuss, Dunn, Fried, Gehani, Giauque, Kim, Linn, Luo, Patel, Roberts, Saito, Seybold, Short, Spokes, Warren and Wehrly are together referred to herein as the "Farallon Individual Reporting Persons."
(b)	Address or principal business office or, if none, residence: The address of the principal business office of each of the Reporting Persons is c/o Farallon Capital Management, L.L.C., One Maritime Plaza, Suite 2100, San Francisco, California 94111.
(c)	Citizenship: The citizenship of each of ZHH LLC, the Farallon Funds, the Management Company, the Farallon General Partner, the FCIP V General Partner and the F5MI General Partner is set forth above. Each of the Farallon Individual Reporting Persons, other than Giauque, Luo and Spokes, is a citizen of the United States. Giauque is a citizen of France. Luo is a citizen of China. Spokes is a citizen of the United Kingdom.
(d)	Title of class of securities: Common Stock, $0.0001 par value per share (the "Shares")
(e)	CUSIP No.: 08659B102
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: The information required by Items 4(a) - (c) and set forth in Rows 5 through 11 of the cover page for each Reporting Person is incorporated herein by reference for each such Reporting Person. The Shares reported hereby for ZHH LLC are held directly by ZHH LLC. The Shares reported hereby for the Farallon Funds are held directly by the Farallon Funds. The Management Company, as the manager of ZHH LLC, may be deemed to be a beneficial owner of such Shares held by ZHH LLC. The Farallon General Partner, as the general partner of each of FCP, FCIP, FCIP II, FCIP III, FCOI II and FCAMI, and as the sole member of the FCIP V General Partner, may be deemed to be a beneficial owner of such Shares held by the Farallon Funds other than F5MI. The FCIP V General Partner, as the general partner of FCIP V, may be deemed to be a beneficial owner of such Shares held by FCIP V. The F5MI General Partner, as the general partner of F5MI, may be deemed to be a beneficial owner of such Shares held by F5MI. Each of the Farallon Individual Reporting Persons, as a managing member or senior managing member, as the case may be, of the Management Company and the Farallon General Partner, and as a manager or senior manager, as the case may be, of the FCIP V General Partner and the F5MI General Partner, in each case with the power to exercise investment discretion, may be deemed to be a beneficial owner of such Shares held by ZHH LLC and the Farallon Funds. Each of the Management Company, the Farallon General Partner, the FCIP V General Partner, the F5MI General Partner and the Farallon Individual Reporting Persons hereby disclaims any beneficial ownership of any such Shares.
(b)	Percent of class: The information required by Items 4(a) - (c) and set forth in Rows 5 through 11 of the cover page for each Reporting Person is incorporated herein by reference for each such Reporting Person.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: The information required by Items 4(a) - (c) and set forth in Rows 5 through 11 of the cover page for each Reporting Person is incorporated herein by reference for each such Reporting Person.
	(ii) Shared power to vote or to direct the vote: The information required by Items 4(a) - (c) and set forth in Rows 5 through 11 of the cover page for each Reporting Person is incorporated herein by reference for each such Reporting Person.
	(iii) Sole power to dispose or to direct the disposition of: The information required by Items 4(a) - (c) and set forth in Rows 5 through 11 of the cover page for each Reporting Person is incorporated herein by reference for each such Reporting Person.
	(iv) Shared power to dispose or to direct the disposition of: The information required by Items 4(a) - (c) and set forth in Rows 5 through 11 of the cover page for each Reporting Person is incorporated herein by reference for each such Reporting Person.
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	If a group has filed this schedule pursuant to §240.13d-1(b)(1)(ii)(J), so indicate under Item 3(j) and attach an exhibit stating the identity and Item 3 classification of each member of the group. If a group has filed this schedule pursuant to §240.13d-1(c) or §240.13d-1(d), attach an exhibit stating the identity of each member of the group. The Reporting Persons are filing this Schedule 13G pursuant to Section 240.13d-1(c). The Reporting Persons neither disclaim nor affirm the existence of a group among them. Each Reporting Person is a beneficial owner only of the securities reported by it on its cover page.
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Zone Healthcare Holdings, LLC

Signature:	/s/ Hannah E. Dunn
Name/Title:	Hannah E. Dunn, Managing Member of its Manager
Date:	08/13/2025

Farallon Capital Partners, L.P.

Signature:	/s/ Hannah E. Dunn
Name/Title:	Hannah E. Dunn, Managing Member of its General Partner
Date:	08/13/2025

Farallon Capital Institutional Partners, L.P.

Signature:	/s/ Hannah E. Dunn
Name/Title:	Hannah E. Dunn, Managing Member of its General Partner
Date:	08/13/2025

Farallon Capital Institutional Partners II, L.P.

Signature:	/s/ Hannah E. Dunn
Name/Title:	Hannah E. Dunn, Managing Member of its General Partner
Date:	08/13/2025

Farallon Capital Institutional Partners III, L.P.

Signature:	/s/ Hannah E. Dunn
Name/Title:	Hannah E. Dunn, Managing Member of its General Partner
Date:	08/13/2025

Four Crossings Institutional Partners V, L.P.

Signature:	/s/ Hannah E. Dunn
Name/Title:	Hannah E. Dunn, Manager of its General Partner
Date:	08/13/2025

Farallon Capital Offshore Investors II, L.P.

Signature:	/s/ Hannah E. Dunn
Name/Title:	Hannah E. Dunn, Managing Member of its General Partner
Date:	08/13/2025

Farallon Capital (AM) Investors, L.P.

Signature:	/s/ Hannah E. Dunn
Name/Title:	Hannah E. Dunn, Managing Member of its General Partner
Date:	08/13/2025

Farallon Capital F5 Master I, L.P.

Signature:	/s/ Hannah E. Dunn
Name/Title:	Hannah E. Dunn, Manager of its General Partner
Date:	08/13/2025

Farallon Capital Management, L.L.C.

Signature:	/s/ Hannah E. Dunn
Name/Title:	Hannah E. Dunn, Managing Member
Date:	08/13/2025

Farallon Partners, L.L.C.

Signature:	/s/ Hannah E. Dunn
Name/Title:	Hannah E. Dunn, Managing Member
Date:	08/13/2025

Farallon F5 (GP), L.L.C.

Signature:	/s/ Hannah E. Dunn
Name/Title:	Hannah E. Dunn, Manager
Date:	08/13/2025

Farallon Institutional (GP) V, L.L.C.

Signature:	/s/ Hannah E. Dunn
Name/Title:	Hannah E. Dunn, Manager
Date:	08/13/2025

Dapice Joshua J.

Signature:	/s/ Hannah E. Dunn
Name/Title:	Hannah E. Dunn, as attorney-in-fact
Date:	08/13/2025

Dreyfuss, Philip D.

Signature:	/s/ Hannah E. Dunn
Name/Title:	Hannah E. Dunn, as attorney-in-fact
Date:	08/13/2025

Dunn Hannah E.

Signature:	/s/ Hannah E. Dunn
Name/Title:	Hannah E. Dunn
Date:	08/13/2025

Fried, Richard B

Signature:	/s/ Hannah E. Dunn
Name/Title:	Hannah E. Dunn, as attorney-in-fact
Date:	08/13/2025

Gehani, Varun N.

Signature:	/s/ Hannah E. Dunn
Name/Title:	Hannah E. Dunn, as attorney-in-fact
Date:	08/13/2025

Giauque, Nicolas

Signature:	/s/ Hannah E. Dunn
Name/Title:	Hannah E. Dunn, as attorney-in-fact
Date:	08/13/2025

Kim, David T.

Signature:	/s/ Hannah E. Dunn
Name/Title:	Hannah E. Dunn, as attorney-in-fact
Date:	08/13/2025

Linn, Michael G.

Signature:	/s/ Hannah E. Dunn
Name/Title:	Hannah E. Dunn, as attorney-in-fact
Date:	08/13/2025

Luo Patrick (Cheng)

Signature:	/s/ Hannah E. Dunn
Name/Title:	Hannah E. Dunn, as attorney-in-fact
Date:	08/13/2025

Patel, Rajiv A.

Signature:	/s/ Hannah E. Dunn
Name/Title:	Hannah E. Dunn, as attorney-in-fact
Date:	08/13/2025

Roberts, Jr., Thomas G.

Signature:	/s/ Hannah E. Dunn
Name/Title:	Hannah E. Dunn, as attorney-in-fact
Date:	08/13/2025

Saito Edric C.

Signature:	/s/ Hannah E. Dunn
Name/Title:	Hannah E. Dunn, as attorney-in-fact
Date:	08/13/2025

Seybold, William

Signature:	/s/ Hannah E. Dunn
Name/Title:	Hannah E. Dunn, as attorney-in-fact
Date:	08/13/2025

Short Daniel S.

Signature:	/s/ Hannah E. Dunn
Name/Title:	Hannah E. Dunn, as attorney-in-fact
Date:	08/13/2025

Spokes, Andrew J. M.

Signature:	/s/ Hannah E. Dunn
Name/Title:	Hannah E. Dunn, as attorney-in-fact
Date:	08/13/2025

Warren, John R.

Signature:	/s/ Hannah E. Dunn
Name/Title:	Hannah E. Dunn, as attorney-in-fact
Date:	08/13/2025

Wehrly, Mark C.

Signature:	/s/ Hannah E. Dunn
Name/Title:	Hannah E. Dunn, as attorney-in-fact
Date:	08/13/2025

FAQ

Who filed the Schedule 13G/A for Beta Bionics (BBNX)?

The statement is filed by Zone Healthcare Holdings, LLC; multiple Farallon-managed funds and entities; Farallon Capital Management, L.L.C.; Farallon Partners, L.L.C.; related general partners; and named Farallon individual reporting persons.

How many shares does Zone Healthcare/Farallon report owning in Beta Bionics (BBNX)?

Zone Healthcare Holdings, LLC and related Farallon reporting entities are shown with shared voting and dispositive power over 3,277,220 shares, representing 7.6% of the class as reported on the cover pages.

What is the 4,203,920 shares figure listed in the filing for BBNX?

Several Farallon individual reporting persons are each listed with an aggregate beneficial amount of 4,203,920 shares, representing 9.7% of the class as shown on their respective cover pages.

Was this filing made as a passive investor under Schedule 13G?

Yes. The Reporting Persons state the Schedule is filed pursuant to the passive investor rule and include a certification that the securities were not acquired to change or influence control.

Do the Reporting Persons claim control or a group agreement in this filing for BBNX?

The filing states the Reporting Persons "neither disclaim nor affirm the existence of a group among them," and they assert the positions are not held to change or influence control.