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A Stock Purchase Agreement (SPA) is a contract between a seller and buyer regarding the purchase of company shares. Key components of the SPA include the number of shares, their cost, and the transaction date. Private companies must offer a due diligence period for buyers, whereas public stock purchasers are protected under the Securities Act of 1933. Different classes of stock may grant varying voting rights, allowing specific groups to influence company decisions. For instance, Class A stock may allow three votes per share, Class B may allow two, and Class C may allow one. A complete stock purchase agreement should cover essential details needed for the transaction.