Western Asset Mortgage Capital Corporation Announces Closing $301M Public Offering Of Common Stock

Western Asset Mortgage Capital Corporation (NYSE: WMC) today announced that it closed a public offering of 13,800,000 shares of its common stock, including 1,800,000 shares pursuant to an option that was fully exercised by the underwriters, at a public offering price of $22.20 per share, for total net proceeds of approximately $301 million after deduction of underwriting discounts and commissions and estimated expenses.

The Company intends to use the net proceeds of the offering primarily to purchase Agency RMBS (residential mortgage-backed securities for which the principal and interest payments are guaranteed by a U.S. Government agency or sponsored entity) and may, at opportunistic times, also purchase its potential target assets (as described below).

Deutsche Bank Securities Inc., Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Jefferies & Company, Inc. acted as the joint book runners for the offering.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction

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