Altice advanced its plans to launch a U.S.-based stock today disclosing, in an SEC filing, it expects to sell about 46.6 million shares at between $27 and 31 a share — to be listed at the New York Stock Exchange under the symbol “ATUS.”

At $29 a share, the offering could raise $1.35 billion. But the bulk of the shares would be sold by existing stock holders and underwriters, the company says in an update to its preliminary prospectus. Altice estimates it could net about $331 million.

If it proceeds with the IPO plan, Altice would use the cash to redeem part of its $2 billion in Senior Notes debt it inherited last year when it completed its $10 billion acquisition of Cablevision. The notes are due 2025 and pay a steep 10.875% in interest.

The company also asked underwriters, led by Morgan Stanley, to reserve as much as 5% of the stock at the IPO price for directors, officers, and employees. The directors and officers would have to hold their shares for at least 180 days. Others would be subject to a 35-day lock up period.

Buyers of the Class A shares will have little influence on Altice USA: About 98% of the votes will be controlled by owners of Class B stock — primarily Altice founder Patrick Drahi — which comes with 25 votes per share.

The filing notes that Altice will be deemed a “controlled company.” That exempts it from having to adhere to some NYSE corporate governance standards, including one that requires a majority of the directors to be independent of management.

Dexter Goei will continue to be Altice USA’s CEO and Chairman. He made $10 million last year, the bulk of it in stock awards, the filing says. That included $223,231 for personal use of the company aircraft, and $160,862 in global mobility and relocation expenses.

The nation’s No. 4 cable operator had 3.5 million video customers, and 4.0 million broadband subscribers, as of March. It filed preliminary paperwork for an IPO in April without the dollar amount it hoped to raise.