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A Stock Purchase Agreement (SPA) is a contract between a seller of company shares and a buyer, detailing the ownership transfer of a business entity. Key components of the agreement include the number of shares for sale, the cost per share, and the transaction date. Private companies must allow a due diligence period for buyers, while public stock purchasers are protected by the Securities Act of 1933. Additionally, stock classes may differ in voting rights, influencing decision-making within a company. For instance, Class A stock may offer three votes per share, Class B two votes, and Class C one vote. Essential elements to include in an SPA must be addressed.