SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report Pursuant to Section 13 or 15 (d) of
The Securities Act of 1934
Date of Report (Date of earliest event reported) October 3, 1997
SIMTEK CORPORATION
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(Exact name of registrant as specified in its charter)
Colorado 0-19027 84-1057605
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(State or other (Commission (I.R.S. Employer
jurisdiction File Number) Identification No.)
of incorporation)
1465 Kelly Johnson Boulevard
Colorado Springs, Colorado 80920
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(Address of principal executive offices) (Zip Code)
Registrant's telephone, including area code: (719) 531-9444
Not applicable
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Former name or former address, if changed since last report
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Item 5: Other Information
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(1) The Registrant issued the following press release, dated October 2,
1997, announcing its special shareholders meeting to be held November 6, 1997:
FOR IMMEDIATE RELEASE
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SIMTEK ANNOUNCES SPECIAL SHAREHOLDERS MEETING
COLORADO SPRINGS, Colorado - October 2, 1997 -- Today Simtek Corporation
announced a special shareholders meeting to be held at 1:00 PM on November 6,
1997 at the Marriott Hotel in Colorado Springs, CO (DEFS14A filed with the SEC).
The purposes of the meeting include voting on a proposed increase of the number
of authorized shares, the ratification of Hein + Associates LLP as auditors of
the company and to transact any other business as may be properly brought before
the meeting. The "Notice of Special Meeting of Shareholders" and the proxy card
for voting is in the process of being mailed out to all shareholders of record
as of September 22, 1997.
Simtek currently has 40 million shares of common stock authorized, with
approximately 28.7 million issued and approximately 9.8 million reserved for
stock options and warrants. This leaves approximately 1.5 million authorized
shares of Common Stock available for future use as of August 31, 1997.
While the Board has no specific commitments, plans or intentions to issue
shares of Common Stock at this time, it is currently exploring various financing
alternatives, none of which would change control of the Company. However, with
so few shares available, the Company has little flexibility to take actions in
the best interest of the company which may require additional shares. The
increase in authorized shares will have no impact on the number of shares in the
public market unless they are issued. Among the possible uses for additional
shares are the issuance in connection with acquisitions of other companies or
properties, issuance in public or private offerings to raise additional capital
to fund production and marketing of its 0.8 micron 256 kilobit nvSRAM, the
development of other new products, declaration and issuance of stock dividends
and issuance under stock option plans that may be adopted in the future.
Simtek has experienced sales growth of its nonvolatile Static RAM (nvSRAM)
products, with revenues of $2.0M in 1995, $5.2M in 1996 and $3.3M in the first
half of 1997. With the solid base of 16 kilobit and 64 kilobit nvSRAMs and the
recent introduction of its 256 kilobit products, Simtek continues to broaden its
customer base and establish the nvSRAM technology in applications requiring high
performance, cost effective nonvolatile memory solutions.
Simtek Corporation develops, produces and markets high performance
nonvolatile memories. Headquartered in Colorado Springs, Colorado, with
international sales and marketing channels, Simtek is listed under the symbol
SRAM on the OTC electronic Bulletin Board. Information on Simtek products can be
obtained from its web site www.simtek.com, email [email protected] or by calling
(719) 531-9444 or FAX (719) 531-9481.
For more information contact:
Simtek Corporation [email protected]
1465 Kelly Johnson Boulevard or see our Web site at
Colorado Springs, CO 80920 USA http://www.simtek.com
(719) 531-9444 FAX (719) 531-9481
Editor's Note: Please send inquiries to: Communications Department, Simtek
Corporation, 1465 Kelly Johnson Boulevard, Colorado Springs, CO 80920 USA. (719)
531-9444; FAX (719) 531-9481.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned and hereunto duly authorized.
SIMTEK CORPORATION
/s/Richard L. Petritz
October 3, 1997 By:_______________________________________
RICHARD L. PETRITZ
Chief Executive Officer and Chief
Financial Officer (acting)
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