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A stock purchase agreement (SPA) is a contract between a seller and a buyer for the acquisition of company shares. Key components of the agreement include the number of shares for sale, the price per share, and the transaction date. Private entities must grant a due diligence period for buyers, whereas public stock purchases are protected under the Securities Act of 1933. Different classes of stock may have varying voting rights; for instance, Class A stock might offer three votes per share, Class B two votes, and Class C one vote. Essential details to include in a stock purchase agreement must be carefully stated to ensure clarity and compliance.