UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. ___)*
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BioSpecifics Technologies Corp.
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(Name of Issuer)
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Common Stock, $0.001 par value
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(Title of Class of Securities)
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090931106
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(CUSIP Number)
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December 15, 2014
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Date of Event Which Requires Filing of this Statement
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1
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Name of Reporting Person:
Abdiel Qualified Master Fund LP
I.R.S. Identification No. of above Person (entities only) (voluntary)
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2
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Check the Appropriate Box if a Member of a Group
(a) o
(b) o
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3
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SEC USE ONLY
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4
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Citizenship or Place of Organization
Cayman Islands
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NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
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5
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SOLE VOTING POWER
0
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6
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SHARED VOTING POWER
318,238
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||
7
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SOLE DISPOSITIVE POWER
0
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8
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SHARED DISPOSITIVE POWER
318,238
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9
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AGGREGATE AMOUNT BENEFICIALLY OWNED
318,238
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10
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
o
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11
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.9% *
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12
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TYPE OF REPORTING PERSON
PN
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1
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Names of Reporting Person:
Abdiel Capital LP
I.R.S. Identification No. of above Person (entities only) (voluntary)
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||
2
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Check the Appropriate Box if a Member of a Group
(a) o
(b) o
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3
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SEC USE ONLY
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4
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Citizenship or Place of Organization
Delaware
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NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
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5
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SOLE VOTING POWER
0
|
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6
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SHARED VOTING POWER
19,329
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||
7
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SOLE DISPOSITIVE POWER
0
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8
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SHARED DISPOSITIVE POWER
19,329
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9
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AGGREGATE AMOUNT BENEFICIALLY OWNED
19,329
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||
10
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
o
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11
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.3% *
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12
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TYPE OF REPORTING PERSON
PN
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1
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Names of Reporting Person:
Abdiel Capital Management, LLC
I.R.S. Identification No. of above Person (entities only) (voluntary)
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||
2
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Check the Appropriate Box if a Member of a Group
(a) o
(b) o
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||
3
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SEC USE ONLY
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4
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Citizenship or Place of Organization
Delaware
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NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
|
5
|
SOLE VOTING POWER
0
|
|
6
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SHARED VOTING POWER
337,567 **
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||
7
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SOLE DISPOSITIVE POWER
0
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||
8
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SHARED DISPOSITIVE POWER
337,567 **
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9
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AGGREGATE AMOUNT BENEFICIALLY OWNED
337,567 **
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10
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
o
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11
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.2% *
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12
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TYPE OF REPORTING PERSON
OO
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1
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Names of Reporting Person:
Abdiel Capital Advisors, LLC
I.R.S. Identification No. of above Person (entities only) (voluntary)
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||
2
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Check the Appropriate Box if a Member of a Group
(a) o
(b) o
|
||
3
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SEC USE ONLY
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4
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Citizenship or Place of Organization
Delaware
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NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
|
5
|
SOLE VOTING POWER
0
|
|
6
|
SHARED VOTING POWER
337,567 **
|
||
7
|
SOLE DISPOSITIVE POWER
0
|
||
8
|
SHARED DISPOSITIVE POWER
337,567 **
|
||
9
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AGGREGATE AMOUNT BENEFICIALLY OWNED
337,567 **
|
||
10
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
o
|
||
11
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.2% *
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12
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TYPE OF REPORTING PERSON
OO
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1
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Names of Reporting Person:
Colin T. Moran
I.R.S. Identification No. of above Person (entities only) (voluntary)
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2
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Check the Appropriate Box if a Member of a Group
(a) o
(b) o
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3
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SEC USE ONLY
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4
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Citizenship or Place of Organization
United States
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NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
|
5
|
SOLE VOTING POWER
0
|
|
6
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SHARED VOTING POWER
337,567 **
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||
7
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SOLE DISPOSITIVE POWER
0
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||
8
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SHARED DISPOSITIVE POWER
337,567 **
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9
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AGGREGATE AMOUNT BENEFICIALLY OWNED
337,567 **
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||
10
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
o
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11
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.2% *
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12
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TYPE OF REPORTING PERSON
IN
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Item 1(a)
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Name of Issuer: BioSpecifics Technologies Corp.
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Item 1(b)
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Address of Issuer’s Principal Executive Offices:
35 Wilbur Street, Lynbrook, NY 11563
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Item 2(a)
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Name of Persons Filing:
Abdiel Qualified Master Fund LP
Abdiel Capital LP
Abdiel Capital Management, LLC
Abdiel Capital Advisors, LLC
Colin T. Moran
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Item 2(b)
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Address of Principal Business Office, or if None, Residence:
410 Park Avenue, Suite 540, New York, NY 10022
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Item 2(c)
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Citizenship:
Abdiel Qualified Master Fund LP – Cayman Islands
Abdiel Capital LP - Delaware
Abdiel Capital Management, LLC - Delaware
Abdiel Capital Advisors, LLC - Delaware
Colin T. Moran – United States
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Item 2(d)
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Title of Class of Securities: Common Stock, $0.001 par value
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Item 2(e)
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CUSIP Number: 090931106
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Item 3
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If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is:
Not Applicable.
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Item 4
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Ownership:
(a) through (c):
The information set forth in Items 5 through 9 and 11 of the cover pages to this Schedule 13G is incorporated herein by reference thereto. Ownership is stated as of December 18, 2014 and ownership percentages are based on 6,500,712 shares of Common Stock outstanding as of November 7, 2014, as reported in the Issuer’s Report on Form 10-Q for the period ended September 30, 2014 filed with the Securities and Exchange Commission on November 10, 2014.
Abdiel Capital Management, LLC and Abdiel Capital Advisors, LLC serve as the general partner and the investment manager, respectively, of Abdiel Qualified Master Fund LP and Abdiel Capital LP. Colin T. Moran serves as managing member of each of Abdiel Capital Management, LLC and Abdiel Capital Advisors, LLC. Each of the Reporting Persons disclaims beneficial ownership of the shares reported herein except to the extent of its or his pecuniary interest therein.
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Item 5
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Ownership of Five Percent or Less of the Class: Not Applicable.
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Item 6
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Ownership of More Than Five Percent on Behalf of Another Person: Not Applicable.
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Item 7
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Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company: Not Applicable.
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Item 8
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Identification and Classification of Members of the Group: Not Applicable.
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Item 9
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Notice of Dissolution of Group: Not Applicable.
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Item 10
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Certification:
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 such purpose or effect.
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ABDIEL QUALIFIED MASTER FUND LP
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By: |
Abdiel Capital Management, LLC,
its General Partner
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By:
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/s/ Colin T. Moran |
Colin T. Moran, Managing Member
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ABDIEL CAPITAL LP
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By:
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Abdiel Capital Management, LLC,
its General Partner
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By:
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/s/ Colin T. Moran
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Colin T. Moran, Managing Member
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ABDIEL CAPITAL MANAGEMENT, LLC
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By:
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/s/ Colin T. Moran
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Colin T. Moran, Managing Member
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ABDIEL CAPITAL ADVISORS, LLC
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By:
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/s/ Colin T. Moran
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Colin T. Moran, Managing Member
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COLIN T. MORAN
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By:
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/s/ Colin T. Moran
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Colin T. Moran, Individually
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ABDIEL QUALIFIED MASTER FUND LP
|
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By:
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Abdiel Capital Management, LLC,
its General Partner
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By:
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/s/ Colin T. Moran
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Colin T. Moran, Managing Member
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ABDIEL CAPITAL LP
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By:
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Abdiel Capital Management, LLC,
its General Partner
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By:
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/s/ Colin T. Moran
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Colin T. Moran, Managing Member
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ABDIEL CAPITAL MANAGEMENT, LLC
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By:
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/s/ Colin T. Moran
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Colin T. Moran, Managing Member
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ABDIEL CAPITAL ADVISORS, LLC
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By:
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/s/ Colin T. Moran
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Colin T. Moran, Managing Member
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COLIN T. MORAN
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By:
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/s/ Colin T. Moran
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Colin T. Moran, Individually
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