Snap CEO Evan Spiegel. Photo by Steve Jennings/Getty Images for TechCrunch

Snap Inc, the company behind Snapchat, has announced its intention to issue up to $750 million in convertible bonds that’ll be due by 2025, its intention, however, “subject to market conditions and other factors.” Snap says it intends to put the proceeds from the bond offering towards general corporate purposes such as working capital and operating expenses, and also possible acquisitions or stock repurchases.

The bonds Snap intends to offer will be due on the 1st of May, 2025. The bonds will be convertible to Snap Inc Class A shares at the choice of buyers. The interest rate, initial conversion rate, and other terms of the proposed bond offering are yet to be determined. Snap intends to settle the bonds with cash payments, shares, or a combination of cash and shares.

Update: Snap has boosted the proposed bond offering by $100 million, now amounting to $850 million.