RALEIGH – Bandwidth, a provider of various communications services, is looking to raise $350 million, up from a previous intent to raise $300 million.

Underwriters have the option to purchase an additional $50 million.

The sale is expected to close Feb. 28.

The companie expects to use the proceeds in a number of ways.

“Bandwidth estimates that the net proceeds from the offering will be approximately $339.5 million, after deducting the initial purchasers’ discount and estimated offering expenses payable by Bandwidth (assuming no exercise of the initial purchasers’ option to purchase additional Notes),” the company said Wednesday in the announcement.

“Bandwidth intends to use a portion of the net proceeds from the offering to pay the cost of the capped call transactions [described in the full release].

“Bandwidth intends to use the remainder of the net proceeds for working capital or other general corporate purposes, which may include capital expenditures and potential acquisitions and strategic transactions. However, Bandwidth has not designated any specific uses and has no current agreements with respect to any acquisition or strategic transaction.”

Read the full announcement online.