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Company NameWestern Asset Mortgage Capital Corporation
Offering TypeIPO
DescriptionCommon Shares
ISINUS95790D1054
Currency of IssueUSD
Trading Symbol (Exchange)WMC (NYSE)
 
Announcement Date6/12/2009
Trade Date5/9/2012
Settlement Date5/15/2012
Completion Date5/9/2012
Overallotment Expiration6/14/2012
Lock-up Expiration11/5/2012
 
144a?No
Mandatory Redemption?No
Convertible?No
Exchange for Existing Issue?No

Use of Proceeds
The company plans to use the net proceeds from this offering and the concurrent private placements initially to purchase Agency RMBS and its potential target assets in the following ranges: approximately 85-100% Agency RMBS, approximately 0-15% non-Agency RMBS, approximately 0-5% CMBS and approximately 0-5% ABS. Until appropriate investments can be identified, the company may invest the net proceeds from this offering and the concurrent private placements in interest-bearing short-term investments, including money market accounts and/or funds. Prior to the time the company has fully used the net proceeds of this offering and the concurrent private placements to acquire Agency RMBS and its potential target assets, the company may fund its quarterly distributions out of such net proceeds.

Pricing
Offer Price ($)20.00
Gross Amount Offered ($000)160,000
Amount Including Overallotment ($000)160,000
Shares Offered8,000,000
Total Shares Offered8,000,000

Overallotments
Overallotment Amount Available ($000)24,000
Overallotment Shares Available1,200,000

Underwriting Fees
Gross Spread ($)0.80
Gross Spread (%)4.00
Sales Concession ($)0.48
Reallowance ($)0.16

UnderwritersShares UnderwrittenAmount Underwritten($000)
Book Manager(s)
  Citigroup Global Markets Inc.1,720,00034,400
  Deutsche Bank Securities Inc.1,720,00034,400
  J.P. Morgan Securities LLC1,720,00034,400
  Jefferies LLC800,00016,000
Non-book Lead Manager(s)
  JMP Securities LLC480,0009,600
  RBC Capital Markets, LLC480,0009,600
  Stifel, Nicolaus & Company, Incorporated480,0009,600
Co-Manager(s)
  B. Riley Wealth Management, Inc.200,0004,000
  National Securities Corporation200,0004,000
  Sterne, Agee & Leach, Inc.200,0004,000

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

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