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A stock purchase agreement (SPA) is a contract between a seller of company shares and a potential buyer to acquire ownership of a business entity. Key components of an SPA include the number of shares for sale, the cost per share, and the transaction date. Buyers of private entities must be provided a due diligence period, while buyers of public stocks are protected by the Securities Act of 1933. Different classes of stock may have varying voting rights, allowing specific groups to make key decisions: for example, Class A shares might offer three votes per share, Class B two votes, and Class C one vote. A well-structured SPA includes essential information that facilitates the transaction.