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) July 8, 2002





                               SIMTEK CORPORATION
             ------------------------------------------------------
             (Exact name of registrant as specified in its charter)




   Colorado                          0-19027                    84-1057605
--------------------------------------------------------------------------------
(State or other                    (Commission               (I.R.S. Employer
jurisdiction                       File Number)              Identification No.)
of incorporation)



                        4250 Buckingham Dr. #100
                       Colorado Springs, Colorado               80907
                ----------------------------------------       --------
                (Address of principal executive offices)       Zip Code


          Registrant's telephone, including area code: (719) 531-9444


                                 Not applicable
          -----------------------------------------------------------
          Former name or former address, if changed since last report





Item 5: Other Information:

Simtek  Corporation  released the  following  press  release dated July 8, 2002,
titled "Simtek Closes $3 Million Financing  Transaction with Renaissance Capital
of Dallas":

               Simtek Closes $3 Million Financing Transaction with
                          Renaissance Capital of Dallas

Colorado  Springs,  CO, July 8, 2002 - Simtek  Corporation  (OTC BB: SRAM),  has
announced  the closing of a $3 million  financing  transaction  with three funds
advised by Renaissance Capital Group of Dallas, TX.

Simtek's  funding  from  Renaissance  consists  of  $3  million  of  convertible
debentures  with a 7-year term at a 7.5% percent per annum  interest  rate.  The
debentures are  convertible at the option of the holder into Simtek common stock
at 31.2 cents per share,  a 20% premium to the 26 cent market  closing  price on
June 28. Upon certain conditions, the Company may redeem the debentures or force
conversion.  Renaissance  also has the right to appoint one member to the Simtek
Board of Directors.

The funds advised by Renaissance  Capital Group seek to invest in the securities
of small  capitalization  emerging growth companies,  frequently through private
placements, with the objective of realizing above average rates of return.

Simtek plans to use the net proceeds  primarily  for working  capital to support
the company's growth plans.

"We are  pleased  that  Renaissance  Capital is showing  continued  support  for
Simtek,"  stated Douglas  Mitchell,  Simtek's  president and CEO. "They know our
business well and will provide valuable guidance going forward as we continue to
build  our  product  portfolio  and our  markets.  This  additional  capital  is
especially  important while the overall market is so unpredictable.  These funds
provide  additional  security  for the  company  during a time of  exciting  new
product   development   activities   that  will   extend   our  reach  into  new
applications."

Current Simtek  products are  continually  being optimized while the nonvolatile
process is being integrated into Amkor  Technology's Anam facility on their 0.25
micron process. The new developments will support 1 million bit nvSRAM products,
providing 4 times the density of Simtek's current products along with additional
system-specific features. The smaller feature sizes, resulting in higher product
densities,  less power  consumption  and lower  system  cost will  result in the
highest  performance  byte-addressable  nonvolatile  memory  technology  in  the
marketplace.

Simtek  Corporation  delivers  fast  re-programmable  nonvolatile  semiconductor
memories and  cost-effective  FPGA to ASIC  conversions.  Information  on Simtek
products   can  be   obtained   from  its  web  page:   www.simtek.com;   email:
info@simtek.com;  by calling (719) 531-9444; or fax (719) 531-9481.  The company
is headquartered in Colorado Springs,  Colorado,  with  international  sales and
marketing channels. Simtek is listed under the symbol SRAM on the OTC Electronic
Bulletin Board.


                                      -2-



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 the
availability of new products during 2002 and statements predicting the Company's
future  growth.  Such  statements  involve risks and  uncertainties,  and actual
results  could  differ   materially   from  the  results   anticipated  in  such
forward-looking  statements as a result of a number of factors,  including,  but
not limited to, the risk of delays in the  availability  of new  products due to
technological,  market  or  financial  factors  including  the  availability  of
necessary working capital,  or the other factors described in the Company's most
recent  Form  10-KSB and Form  10-QSB  filed with the  Securities  and  Exchange
Commission.












                                      -3-


                                    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




July 8, 2002                            By: /s/Douglas Mitchell
                                            ------------------------------------
                                                    DOUGLAS MITCHELL
                                            Chief Executive Officer, President
                                            and Chief Financial Officer (acting)






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