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A Stock Purchase Agreement (SPA) is a contract between a seller and a buyer for the purchase of company shares. It details key elements such as the number of shares for sale, their price, and the transaction date. Private entities must allow a due diligence period for buyers, whereas purchasers of public stock are protected under the Securities Act of 1933. The agreement should also address different classes of stock, which may carry varying voting rights. For instance, Class A stock may provide three votes per share, Class B two votes, and Class C one vote. Essential components of an SPA include relevant transaction details and terms specific to the bought shares.