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A Stock Purchase Agreement (SPA) is a contract between a seller and a buyer regarding the purchase of company shares. It outlines key details such as the number of shares for sale, their cost, and the transaction date. Private companies must offer a due diligence period for buyers, while public stock purchases are protected by the Securities Act of 1933. Additionally, shares may come in different classes that entail varying voting rights, allowing certain shareholders to influence company decisions more than others. For instance, Class A shares may have three votes each, Class B shares two votes, and Class C shares one vote. An effective SPA should include these crucial details.