DULUTH, Ga.—National Vision Holdings Inc., parent of optical retailer National Vision Inc. (NVI), announced today the launch of its planned initial public offering (IPO), which, if fully subscribed, could raise about $363 million, according to a filing with the Securities and Exchange Commission.

The offering price is expected to be between $18 and $20 per share, according to the company’s announcement. The company indicated in a September filing with the SEC that it intended to launch an IPO, as VMail reported.

National Vision Holdings will offer 15.8 million shares of its common stock, and may grant the underwriters a 30-day option to purchase up to an additional 2,370,000 shares to cover over-allotments, if any, according to the announcement.

The pricing of the offering is expected to occur the week of Oct. 23, a spokeswoman told VMail.

In its announcement today, National Vision said it intends to use the offering’s net proceeds, first, to repay all $125 million outstanding of its second lien term loans, and, second, to repay approximately $150 million of the outstanding amount of its first lien term loans.

A registration statement, including a prospectus, which is preliminary and subject to completion, has been filed with the SEC, but has not yet become effective, the company said. The shares may not be sold, nor may offers to buy be accepted, prior to the time that the registration statement becomes effective. No other details on the timing of the share offering were available Monday.

According to the company’s September SEC filing, National Vision Holdings, in fiscal years 2015 and 2016, had net revenue of $1.1 billion and $1.2 billion, respectively. Over a five-year period, the company achieved a compound annual growth rate (CAGR) of approximately 14 percent, the filing noted.

National Vision said it has applied to have its common stock approved for listing on the NASDAQ Global Select Market under the symbol “EYE.”

National Vision, the fourth-largest optical retailer in the U.S. according to Vision Monday’s 2017 Top 50 U.S. Optical Retailers report, operates 996 retail stores and 19 consumer websites. It’s five retail brands are: America’s Best Contacts & Eyeglasses, Eyeglass World, Vision Centers inside select Walmart stores, and Vista Optical locations inside Fred Meyer stores and on select military bases.

After the completion of this offering, affiliates of Kohlberg Kravis Roberts & Co., or KKR Sponsor, and private equity funds managed by Berkshire Partners, or Berkshire, will continue to own a majority of the voting power, according to the announcement.

BofA Merrill Lynch, Goldman Sachs & Co., Citigroup and KKR Capital Markets are acting as joint book-running managers for the proposed offering, and Morgan Stanley, Jefferies, UBS Investment Bank and Wells Fargo Securities also are acting as book-runners for the proposed offering. Guggenheim Securities, Mizuho Securities and Macquarie Capital are acting as co-managers for the proposed offering.