What do you mean by SPA term?

Share Purchase Agreement (SPA) is a contract between a company, its shareholders, and investors that sets the basic terms for the purchase and sale of shares. Also called Share Sale Agreement (SSA). Share Purchase Agreement is an agreement entered into between the buyer and seller(s) of shares of a target company. This would provide a proper idea of the functioning of the company as well as potential liabilities which may arise for the buyer in the future.