UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
|
BioSpecifics Technologies Corp.
|
(Name of Issuer)
|
Common Stock, $0.001 par value
|
(Title of Class of Securities)
|
090931106
|
(CUSIP Number)
|
December 31, 2014
|
Date of Event Which Requires Filing of this Statement
|
1
|
Name of Reporting Person:
Abdiel Qualified Master Fund LP
I.R.S. Identification No. of above Person (entities only) (voluntary)
|
||||
2
|
Check the Appropriate Box if a Member of a Group
(a) o
(b) o
|
||||
3
|
SEC USE ONLY
|
||||
4
|
Citizenship or Place of Organization
Cayman Islands
|
||||
NUMBER OF
|
5
|
SOLE VOTING POWER
0
|
|||
SHARES
BENEFICIALLY
OWNED BY
|
6
|
SHARED VOTING POWER
321,746 *
|
|||
EACH
REPORTING
PERSON
|
7
|
SOLE DISPOSITIVE POWER
0
|
|||
WITH
|
8
|
SHARED DISPOSITIVE POWER
321,746 *
|
|||
9
|
AGGREGATE AMOUNT BENEFICIALLY OWNED
321,746 *
|
||||
10
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
o
|
||||
11
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.9% **
|
||||
12
|
TYPE OF REPORTING PERSON
PN
|
1
|
Names of Reporting Person:
Abdiel Capital LP
I.R.S. Identification No. of above Person (entities only) (voluntary)
|
||||
2
|
Check the Appropriate Box if a Member of a Group
(a) o
(b) o
|
||||
3
|
SEC USE ONLY
|
||||
4
|
Citizenship or Place of Organization
Delaware
|
||||
NUMBER OF
|
5
|
SOLE VOTING POWER
0
|
|||
SHARES
BENEFICIALLY
OWNED BY
|
6
|
SHARED VOTING POWER
19,329 *
|
|||
EACH
REPORTING
PERSON
|
7
|
SOLE DISPOSITIVE POWER
0
|
|||
WITH
|
8
|
SHARED DISPOSITIVE POWER
19,329 *
|
|||
9
|
AGGREGATE AMOUNT BENEFICIALLY OWNED
19,329 *
|
||||
10
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
o
|
||||
11
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.3% **
|
||||
12
|
TYPE OF REPORTING PERSON
PN
|
1
|
Names of Reporting Person:
Abdiel Capital Management, LLC
I.R.S. Identification No. of above Person (entities only) (voluntary)
|
||||
2
|
Check the Appropriate Box if a Member of a Group
(a) o
(b) o
|
||||
3
|
SEC USE ONLY
|
||||
4
|
Citizenship or Place of Organization
Delaware
|
||||
NUMBER OF
|
5
|
SOLE VOTING POWER
0
|
|||
SHARES
BENEFICIALLY
OWNED BY
|
6
|
SHARED VOTING POWER
341,075 **
|
|||
EACH
REPORTING
PERSON
|
7
|
SOLE DISPOSITIVE POWER
0
|
|||
WITH
|
8
|
SHARED DISPOSITIVE POWER
341,075 **
|
|||
9
|
AGGREGATE AMOUNT BENEFICIALLY OWNED
341,075 **
|
||||
10
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
o
|
||||
11
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.2% *
|
||||
12
|
TYPE OF REPORTING PERSON
OO
|
1
|
Names of Reporting Person:
Abdiel Capital Advisors, LP ***
I.R.S. Identification No. of above Person (entities only) (voluntary)
|
||||
2
|
Check the Appropriate Box if a Member of a Group
(a) o
(b) o
|
||||
3
|
SEC USE ONLY
|
||||
4
|
Citizenship or Place of Organization
Delaware
|
||||
NUMBER OF
|
5
|
SOLE VOTING POWER
0
|
|||
SHARES
BENEFICIALLY
OWNED BY
|
6
|
SHARED VOTING POWER
341,075 **
|
|||
EACH
REPORTING
PERSON
|
7
|
SOLE DISPOSITIVE POWER
0
|
|||
WITH
|
8
|
SHARED DISPOSITIVE POWER
341,075 **
|
|||
9
|
AGGREGATE AMOUNT BENEFICIALLY OWNED
341,075 **
|
||||
10
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
o
|
||||
11
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.2% *
|
||||
12
|
TYPE OF REPORTING PERSON
PN
|
1
|
Names of Reporting Person:
Colin T. Moran
I.R.S. Identification No. of above Person (entities only) (voluntary)
|
||||
2
|
Check the Appropriate Box if a Member of a Group
(a) o
(b) o
|
||||
3
|
SEC USE ONLY
|
||||
4
|
Citizenship or Place of Organization
United States
|
||||
NUMBER OF
|
5
|
SOLE VOTING POWER
0
|
|||
SHARES
BENEFICIALLY
OWNED BY
|
6
|
SHARED VOTING POWER
341,075 **
|
|||
EACH
REPORTING
PERSON
|
7
|
SOLE DISPOSITIVE POWER
0
|
|||
WITH
|
8
|
SHARED DISPOSITIVE POWER
341,075 **
|
|||
9
|
AGGREGATE AMOUNT BENEFICIALLY OWNED
341,075 **
|
||||
10
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
o
|
||||
11
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.2% *
|
||||
12
|
TYPE OF REPORTING PERSON
IN
|
Reference is hereby made to the statement on Schedule 13G filed with the Securities and Exchange Commission on December 19, 2014 (the “Schedule 13G”). Terms defined in the Schedule 13G are used herein as so defined.
The following Items of the Schedule 13G are hereby amended and restated as follows:
|
|
Item 2(a)
|
Name of Persons Filing:
Abdiel Qualified Master Fund LP
Abdiel Capital LP
Abdiel Capital Management, LLC
Abdiel Capital Advisors, LP (formerly Abdiel Capital Advisors, LLC; converted from limited liability company to limited partnership effective January 5, 2015)
Colin T. Moran
|
Item 2(c)
|
Citizenship:
Abdiel Qualified Master Fund LP – Cayman Islands
Abdiel Capital LP - Delaware
Abdiel Capital Management, LLC - Delaware
Abdiel Capital Advisors, LP - Delaware
Colin T. Moran – United States
|
Item 4
|
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 31, 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, LP serve as the general partner and the investment manager, respectively, of Abdiel Qualified Master Fund LP and Abdiel Capital LP. (Abdiel Capital Advisors, LP was formerly Abdiel Capital Advisors, LLC; it converted from a limited liability company to a limited partnership effective January 5, 2015.) Colin T. Moran serves as managing member of Abdiel Capital Management, LLC and Abdiel Capital Partners, LLC, which serves as the general partner of Abdiel Capital Advisors, LP. Each of the Reporting Persons disclaims beneficial ownership of the shares reported herein except to the extent of its or his pecuniary interest therein.
|
Item 10
|
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.
|
ABDIEL QUALIFIED MASTER FUND LP
|
|
By:
|
Abdiel Capital Management, LLC,
its General Partner
|
By:
|
/s/ Colin T. Moran
|
Colin T. Moran, Managing Member
|
|
ABDIEL CAPITAL LP
|
|
By:
|
Abdiel Capital Management, LLC,
its General Partner
|
By:
|
/s/ Colin T. Moran
|
Colin T. Moran, Managing Member
|
|
ABDIEL CAPITAL MANAGEMENT, LLC
|
|
By:
|
/s/ Colin T. Moran
|
Colin T. Moran, Managing Member
|
|
ABDIEL CAPITAL ADVISORS, LP
|
|
By:
|
Abdiel Capital Partners, LLC,
its General Partner
|
By:
|
/s/ Colin T. Moran
|
Colin T. Moran, Managing Member
|
|
COLIN T. MORAN
|
|
By:
|
/s/ Colin T. Moran
|
Colin T. Moran, Individually
|
ABDIEL QUALIFIED MASTER FUND LP
|
|
By:
|
Abdiel Capital Management, LLC,
its General Partner
|
By:
|
/s/ Colin T. Moran
|
Colin T. Moran, Managing Member
|
|
ABDIEL CAPITAL LP
|
|
By:
|
Abdiel Capital Management, LLC,
its General Partner
|
By:
|
/s/ Colin T. Moran
|
Colin T. Moran, Managing Member
|
|
ABDIEL CAPITAL MANAGEMENT, LLC
|
|
By:
|
/s/ Colin T. Moran
|
Colin T. Moran, Managing Member
|
|
ABDIEL CAPITAL ADVISORS, LP
|
|
By:
|
Abdiel Capital Partners, LLC,
its General Partner
|
By:
|
/s/ Colin T. Moran
|
Colin T. Moran, Managing Member
|
|
COLIN T. MORAN
|
|
By:
|
/s/ Colin T. Moran
|
Colin T. Moran, Individually
|