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A stock purchase agreement (SPA) is a contract between a seller and buyer for the acquisition of company shares. It includes details such as the number and cost of shares, as well as the transaction date. Private entities offer a due diligence period, while public stock buyers are safeguarded by the Securities Act of 1933. Different stock classes provide varying voting rights, with Class A having three votes per share, Class B two votes, and Class C one vote. When creating a SPA, it is crucial to outline all relevant terms and conditions.