Austin-based technology company Resideo has set the share price for a stock offering that could be worth nearly $300 million, according to securities filings.

Resideo — which makes smart home technology products — plans to sell 17 million shares of common stock at $15 per share, according to filings with the U.S. Securities and Exchange Commission.

If it sells 17 million shares at $15 per share, the offering would be worth $255 million. However, the underwriters for the offering also have an option to purchase up to 2.55 million shares from Resideo, according to the securities filings. If all those shares were also purchased, the total value of the stock offering would be $298.3 million.

The company expects the offering to close on Friday, according to its securities filing.

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 a securities filing.

Resideo had previously estimated that net proceeds from the offering would be $314.1 million, or $361.3 million if the underwriters fully exercise their purchase options. However, that was based on a projected per share price of $19.49. Resideo’s latest filings do not provide an updated estimate for net proceeds based on the $15 share price.

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. Resideo 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.