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A stock purchase agreement (SPA) is a contract between a seller and a potential buyer for the purchase of company shares. Key components of the agreement include the number of shares for sale, the price per share, and the transaction date. Private companies must allow a due diligence period for buyers, while purchasers of public stock are protected by the Securities Act of 1933. The agreement should also specify different classes of stock, which may have varying voting rights. For example, Class A stock might offer three votes per share, Class B two votes, and Class C one vote. A comprehensive SPA should clearly outline these details.