Just a quick question.

It's done in various degrees of complexity. It may be preceded by written offers from each would-be purchaser, setting forth the proosed terms.

The board of directors then votes to issue shares. The resolution which the board adopts may provide that they will issue so many shares to each person, and the consideration for each block of shares. Then, when the specified consideration is received, the physical share certificates are delivered to the respective shareholders.

Further to AK lawyer's response, some states do not require the delivery of physical share certificates. The shares can be issued on the books.