SmartKem (NASDAQ:SMTK)
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From Jul 2019 to Jul 2024
Simtek Corporation (NASDAQ:SMTK), the inventor, pioneer, and world’s
leading supplier of nonvolatile static random access memory (nvSRAM)
integrated circuits, today commented on the Schedule 13D/A filed with
the Securities and Exchange Commission, by Cypress Semiconductor
Corporation (“Cypress”),
on February 6, 2008. The Cypress filing stated, in part, that Cypress
has contacted Simtek representatives with the intent to explore a
potential acquisition of the Company.
Harold A. Blomquist, Simtek's president and chief executive officer
stated, “Simtek has not been contemplating
selling the Company. However, in response to recent actions by Cypress,
we will consider all options. The Company intends to engage an advisor
to assist management and the Board with respect to this and other
strategic options in order to maximize long-term value for shareholders.”
Blomquist concluded, “We are prepared to enter
into more serious discussions with Cypress and other potential strategic
partners. The value of Simtek’s overall
business is a function of three elements: the Company’s
core nvSRAM business, new products being launched in 2008 at 4 megabit
and larger densities, and new high density nvRAMs being developed in the
Company’s San Diego design center, each of
which has potential for sustained and considerable growth.”
About Simtek Corporation
Simtek Corporation designs and markets "NV + fast SRAM" nonvolatile
semiconductor memory products for use in a variety of systems including
RAID servers, storage arrays, GPS navigational systems, industrial
controllers, robotics, copiers, avionics, metering, consumer, UPS, and
networking and broadcast equipment. Information on Simtek products can
be obtained from its web site: www.simtek.com;
email: information@simtek.com.
The company is headquartered in Colorado Springs, Colorado.
Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended,
including statements predicting Simtek's future growth. These
forward-looking statements are inherently difficult to predict and
involve risks and uncertainties that could cause actual results to
differ materially, including, but not limited to, projections of future
performance including predictions of future profitability and
expectations of the business environment in which Simtek operates. For a
detailed discussion of these and other risk factors, please refer to
Simtek's filings with the Securities and Exchange Commission (SEC),
including its Annual Report on Form 10-K and subsequent Form 10-Q and
Form 8-K filings.