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A Stock Purchase Agreement (SPA) is a contract between a seller of company shares and a buyer, detailing the sale of ownership in a business. Key elements included are the number of shares for sale, the price per share, and the transaction date. Private entities must offer a due diligence period for buyers, while public stock purchases are governed by the Securities Act of 1933. There are different classes of stock, often having distinct voting rights: Class A shares may offer three votes each, Class B shares two votes, and Class C shares one vote. It's essential to ensure that all necessary details are included in an SPA.