UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (date of earliest event reported): June 29, 2022

Vecta Inc.

(Exact name of registrant as specified in its charter)

Registrant’s Telephone Number, Including Area Code: (914) 591-8000

(Former Name or Former Address, if Changed Since Last Report): N/A

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

Securities registered pursuant to Section 12(b) of the Act:

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 1.01. Entry Into a Material Definitive Agreement.

On June 29, 2022, Vecta Inc. (f/k/a Sunnyside Bancorp, Inc.) (the “Company”) entered into a subscription agreement (the “Subscription Agreement”) with its sole shareholder, Vecta Partners LLC, a Delaware limited liability company (“Shareholder”), pursuant to which Shareholder purchased 222,222 shares of common stock of the Company, par value $0.01 per share (the “Subscription Shares”), at $20.25 per share for total aggregate gross proceeds of $4,500,000 in a private placement (the “Sale”). Shareholder is an accredited investor and there were no underwriting discounts or commissions paid in the Sale. Mark M. Silber, a member of our board of directors, is the sole member of Shareholder.

The foregoing description of the Subscription Agreement is not complete and is subject to and qualified in its entirety by reference to the Subscription Agreement, which is filed as Exhibit 10.1 hereto and the terms of which are incorporated by reference herein. The Subscription Agreement attached hereto is not intended to provide any other information about the Company or the Shareholder and their respective affiliates. The representations, warranties and covenants contained in the Subscription Agreement were made only for purposes of that agreement, are solely for the benefit of the parties to the Subscription Agreement and may be subject to limitations agreed upon by the contracting parties. Persons other than the parties to the Subscription Agreement should not rely on the representations, warranties or covenants or any description thereof as characterizations of the actual state of facts or condition of the parties thereto or any of their respective subsidiaries or affiliates. Moreover, information concerning the subject matter of representations and warranties may change after the date of the Subscription Agreement, which subsequent information may or may not be fully reflected in the Company’s public disclosures.

Item 3.02. Unregistered Sales of Equity Securities.

The information provided in Item 1.01 of this Current Report on Form 8-K is hereby incorporated by reference in this Item 3.02. The Subscription Shares issued pursuant to the Subscription Agreement were not registered under the Securities Act of 1933, as amended (the “Securities Act”), and were issued in reliance on the exemption from registration requirements thereof provided by Section 4(a)(2) of the Securities Act.

Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.

Change of Corporate Name

Effective July 18, 2022, the Company amended its charter to change its name from Sunnyside Bancorp, Inc to Vecta Inc. The name change was effected pursuant to Articles of Amendment to the charter of the Company (the “Amendment”), which were filed with the Maryland State Department of Assessments and Taxation on July 18, 2022. A copy of the Amendment is attached hereto as Exhibit 3.1.

Increase in the Number of Authorized Shares

The Amendment, effective as of July 18, 2022, also (i) increased the total number of authorized shares of capital stock of the Company from 31,000,000 shares to 102,000,000 shares, (ii) increased the total number of shares of common stock of the Company, par value $0.01 per share, from 30,000,000 shares to 100,000,000 shares, and (iii) increased the total number of shares designated as preferred stock of the Company, par value $0.01 per share, from 1,000,000 shares to 2,000,000 shares.

The foregoing description of the Amendment is subject to and qualified in its entirety by reference to the Amendment, a copy of the which is attached hereto as Exhibit 3.1.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

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 hereunto duly authorized.