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Company NameWestern Asset Mortgage Capital Corporation
Offering TypeFollow-On
DescriptionCommon Shares
Currency of IssueUSD
Trading Symbol (Exchange)WMC (NYSE)
Announcement Date9/12/2012
Trade Date9/28/2012
Settlement Date10/3/2012
Completion Date9/28/2012
Overallotment Expiration11/2/2012
Lock-up Expiration11/27/2012
Date Overallotment Exercised9/28/2012
Mandatory Redemption?No
Exchange for Existing Issue?No

Use of Proceeds
The company plans to use the net proceeds from this offering 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 in interest-bearing short-term investments, including money market accounts and/or funds, that are consistent with the company intention to qualify as a REIT and maintain the company exemption from registration under the 1940 Act. Prior to the time the company has fully used the net proceeds of this offering to acquire Agency RMBS and its potential target assets, the company may fund its quarterly distributions out of such net proceeds.

Offer Price ($)22.20
Gross Amount Offered ($000)266,400
Amount Including Overallotment ($000)306,360
Shares Offered12,000,000
Total Shares Offered13,800,000

Overallotment Amount Available ($000)39,960
Overallotment Shares Available1,800,000
Overallotment Amount Exercised ($000)39,960
Overallotment Shares Exercised1,800,000

Underwriting Fees
Gross Spread ($)0.35
Gross Spread (%)1.58
Sales Concession ($)0.15

UnderwritersShares UnderwrittenAmount Underwritten($000)
Book Manager(s)
  Deutsche Bank Securities Inc.5,100,000113,220
  Citigroup Global Markets Inc.3,900,00086,580
  J.P. Morgan Securities LLC1,500,00033,300
  Jefferies LLC1,500,00033,300

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

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