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A Stock Purchase Agreement (SPA) is a contract between a seller and a potential buyer for the purchase of shares in a company. Key components of the SPA include the number of shares for sale, the cost per share, and the transaction date. Private entities must provide a due diligence period for buyers, whereas purchasers of public stock are protected under the Securities Act of 1933. Stock classes may differ in voting rights, enabling specific groups to influence company decisions. For instance, Class A shares may allow three votes per share, Class B two votes, and Class C one vote. The agreement must detail these aspects clearly.