An agreement between two parties in which the seller agrees to sell the stated number of shares to the buyer at a particular price.
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A share purchase agreement (SPA) is an agreement between 2 parties in which the seller agrees to sell the stated number of shares to the buyer at a particular price. The aim of the document is to prove that the terms of the agreement were mutually agreed upon. Such an agreement specifies the consideration and the number of shares to be sold, the conditions precedent (the authorisations necessary, for example) and covenants by the parties. The shares will be allotted after this agreement is signed (and on the basis of this agreement).
An SPA is an essential business practice when a shareholder is being inducted. While many new businesses take a casual approach to such matters, the absence of such a document can have several undesirable consequences.
Such a document gives both parties the opportunity to protect their interests before the shares are transferred. Being a comprehensive document, it covers every aspect of the transaction and is crucial for both parties to examine each clause covered in the document and understand its meaning.
Once you send in a request, our representative will get in touch with you to understand your requirements. If further details are required, we will contact you for the same. Once these are in, we will connect you to a verified lawyer, who will prepare the draft and send it to you for review within 3 to 4 working days.
In case you have any clarifications or would like to make changes to the draft, the assigned lawyer will work on them. Two rounds of iterations are included in the original price.
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