Powell Goldstein attorneys, G. William Speer and William B. Shearer Jr., represent Phoenix water services provider, Global Water Resources Inc., in connection with its proposed $50 million initial public offering.

Global Water did not disclose how many shares or at what price they will be sold. But Global Water said it would use some of the proceeds to repay $38 million owed to Wells Fargo Bank. The rest will be used for capital expenditures and acquisitions. Janney Montgomery Scott LLC is sole book-runner and lead manager.

Global Water hopes to list on the Nasdaq under the symbol GWRI.