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Company NameWestern Asset Mortgage Capital Corporation
Offering TypeFollow-On
DescriptionCommon Shares
ISINUS95790D1054
Currency of IssueUSD
Trading Symbol (Exchange)WMC (NYSE)
 
Announcement Date9/20/2018
Trade Date9/20/2018
Settlement Date9/25/2018
Completion Date9/20/2018
Overallotment Expiration10/25/2018
Lock-up Expiration11/4/2018
Shelf Filing Date3/7/2017
 
144a?No
Mandatory Redemption?No
Convertible?No
Exchange for Existing Issue?No

Use of Proceeds
The company intends to use the net proceeds of this offering to opportunistically invest in the company's target assets in accordance with its investment guidelines.

Pricing
Offer Price ($)10.85
Gross Amount Offered ($000)70,525
Amount Including Overallotment ($000)70,525
Shares Offered6,500,000
Total Shares Offered6,500,000
Original Shelf Value ($000)400,000

Overallotments
Overallotment Amount Available ($000)10,579
Overallotment Shares Available975,000

Underwriting Fees
Gross Spread ($)0.38
Gross Spread (%)3.50

UnderwritersShares UnderwrittenAmount Underwritten($000)
Book Manager(s)
  Morgan Stanley & Co. LLC2,210,00023,979
  Merrill Lynch, Pierce, Fenner & Smith Incorporated2,047,50022,215
  Credit Suisse Securities (USA) LLC1,202,50013,047
  Keefe, Bruyette & Woods, Inc.1,040,00011,284

Professionals
Issuer's CounselSkadden, Arps, Slate, Meagher & Flom LLP & Affiliates
Underwriter's CounselClifford Chance US LLP
Auditor(s)PricewaterhouseCoopers LLP

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