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A stock purchase agreement (SPA) is a contract between a seller and a buyer for purchasing ownership in a business through its shares. Key components of the SPA include the number of shares for sale, the cost per share, and the transaction date. Private entities must provide a due diligence period for buyers, while public stock purchasers are protected under the Securities Act of 1933. The agreement should also address various classes of stock, which can have different voting rights. For instance, Class A shares may allow three votes per share, Class B two votes, and Class C one vote. To create a comprehensive SPA, specific details and terms must be clearly outlined.