Western Asset Mortgage Capital Corporation Announces Public Offering Of 12M Shares Of Common Stock

Western Asset Mortgage Capital Corporation

today announced that it has commenced a public offering of 12,000,000 shares of common stock. Western Asset Mortgage Capital Corporation also plans to grant the underwriters an option to purchase up to an additional 1,800,000 shares of common stock. 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. are acting 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.