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SIMTEK Raises $11M In Private Placement

Colorado Springs-based SIMTEK, a provider of SRAM products, said this morning that it has raised $11M in a private placement. The bulletin board listed company said that it was advised by C.E. Unterberg, Towbin. The firm said that the proceeds would be used to complete the purchase of nonvolatile static random memory (nvSRAM) from Zentrum Mikroelektronik Dresden AG ("ZMD") of Germany. The company also said that it is pursuing a revese stock split, potentially enabling the company to re-incorporate as a Delaware corporation.