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A Stock Purchase Agreement (SPA) is a contract between a seller of company shares and a potential buyer for ownership of a business. Key elements include the number of shares for sale, their cost, and the transaction date. Private companies must provide a due diligence period for buyers, while purchasers of public stock are protected under the Securities Act of 1933. Different classes of stock may have varying voting rights, allowing specific groups to influence major decisions; for example, Class A shares may grant three votes each, Class B shares two votes, and Class C shares one vote. An SPA must detail essential conditions and terms relevant to the transaction.