Austin-based Resideo plans a stock offering that could potentially raise more than $330 million for the technology company.

Resideo — which makes smart home technology products — plans to sell 17 million shares of common stock, according to filings with the U.S. Securities and Exchange Commission.

The securities filings do not yet list a proposed sale price for the shares, but Resideo’s stock closed Friday at $19.49 per share. If the 17 million shares in the new offering sold at that price, the gross proceeds from the sale would be $331.3 million.

The underwriters for the offering will also have an option to purchase up to 2.55 million shares from Resideo, according to the securities filings.

Resideo plans to use the net proceeds from the sale “to repay borrowings under its revolving credit facility and for general corporate purposes, including funding growth investments and potential acquisitions,” according to the securities file.

The filing does not list a proposed date for the offering to take place.

Resideo — which makes internet-connected devices for the residential and business markets, including climate control, camera and security products — is a spinoff from manufacturing conglomerate Honeywell. It became a publicly traded company in 2018 and chose Austin as its headquarters.

Resideo reported revenue of $1.36 billion in the third quarter. In its most recent earnings release, CEO Jay Geldmacher said: “While we are closely monitoring our operations and supply chain for impacts related to the COVID-19 pandemic, we are encouraged by the strong demand trends we are seeing across our end markets as we close out 2020.”

In its earnings release, Resideo said it expects fourth-quarter revenue of $1.36 billion to $1.41 billion, and operating profit of $130 million to $140 million.

The company’s share price dropped Monday morning after the company reported plans for the stock offering, dipping about 9% to $17.69 shortly before 10 a.m.