(Save thedate: RealShareApartments comesto the Westin Bonaventure, Los Angeles, October24.)
PASADENA, CA-Legg Mason’s Western Asset Mortgage CapitalCorp., based here, said Monday it plans to conduct an IPO,pricing eight million shares of common stock at $20 per share. In arelease, the REIT says it plans to use the netproceeds to purchase agency RMBS.
The $160-million stock offering will be augmented by an offeringof about 2.2 million units, consisting of a share and a warrant tohalf a share, and 46,043 shares in concurrent private placements.This would give the REIT a market value of $207 million, accordingto published reports.
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