Western Asset Mortgage (WMC) closes its 13.8M secondary offering at a price of $22.20/share for...

|About: Western Asset Mortgage C... (WMC)|By:, SA News Editor

Western Asset Mortgage (WMC) closes its 13.8M secondary offering at a price of $22.20/share for total proceeds of $301M. The company intends to use the cash primarily to purchase both agency and non-agency MBS. Shares closed today at $22.37, putting the secondary buyers already above water. (PR)