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Company NameWestern Asset Mortgage Capital Corporation
Offering TypeFollow-On
DescriptionCommon Shares
Currency of IssueUSD
Trading Symbol (Exchange)WMC (NYSE)
Announcement Date4/3/2014
Trade Date4/3/2014
Settlement Date4/9/2014
Completion Date4/3/2014
Overallotment Expiration5/9/2014
Lock-up Expiration6/2/2014
Date Overallotment Exercised5/2/2014
Shelf Filing Date3/25/2014
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, non agency RMBS and CMBS, focusing primarily on agency RMBS, and for general corporate purposes, in each case consistent with its investment guidelines. The company may invest in or seek to gain exposure to whole loan mortgages, secured by both single family residential and commercial properties.

Offer Price ($)14.67
Gross Amount Offered ($000)190,710
Amount Including Overallotment ($000)205,380
Shares Offered13,000,000
Total Shares Offered14,000,000
Original Shelf Value ($000)205,380

Overallotment Amount Available ($000)28,607
Overallotment Shares Available1,950,000
Overallotment Amount Exercised ($000)14,670
Overallotment Shares Exercised1,000,000

UnderwritersShares UnderwrittenAmount Underwritten($000)
Book Manager(s)
  Merrill Lynch, Pierce, Fenner & Smith Incorporated4,225,00061,981
  Morgan Stanley & Co. LLC3,900,00057,213
  Citigroup Global Markets Inc.1,787,50026,223
  UBS Securities LLC1,787,50026,222
  Barclays Capital Inc.1,300,00019,071

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

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