SBA and the FAR contain rules governing a situation where a small business is purchased by another entity and becomes a large business. SBA has recently updated those rules in a new regulation found at 13 C.F.R. § 125.12. In particular, there is a special scenario where a small business has submitted an offer on a small-business procurement and then is acquired within 180 days after that offer. But how does SBA define an “offer”? A recent SBA decision answers that question.