SC 13G - Western Asset Mortgage Capital Corp (0001465885) (Subject)

SC 13G/A - Western Asset Mortgage Capital Corp (0001465885) (Subject)

SC 13G - Western Asset Mortgage Capital Corp (0001465885) (Subject)

SC 13G/A - Western Asset Mortgage Capital Corp (0001465885) (Subject)

B of A Securities reiterated coverage of Western Asset Mortgage with a rating of Underperform and set a new price target of $2.00 from $3.00 previously

Western Asset Mortgage Capital Corporation (the "Company," "we," or "WMC") (NYSE:WMC) announced today that its stockholders have voted to approve the proposed merger transaction with AG Mortgage Investment Trust, Inc. ("MITT") (NYSE:MITT) at a special meeting of stockholders of WMC held today. Approximately 55% of the issued and outstanding shares of WMC common stock entitled to vote at the special meeting of stockholders of WMC voted in favor of the adoption of the previously announced Agreement and Plan of Merger, dated as of August 8, 2023 (the "Merger Agreement"), by and among MITT, AGMIT Merger Sub, LLC, a wholly owned subsidiary of MITT ("Merger Sub"), WMC and, solely for the limite

Western Asset Mortgage Capital Corporation (NYSE:WMC) ("WMC") announced that its Board of Directors has declared a second interim fourth quarter dividend of $0.10 per common share in light of the adjournment of the special meeting of WMC stockholders until December 5, 2023. The dividend is payable on December 5, 2023 to stockholders of record as of November 30, 2023. The second interim fourth quarter dividend is being made in connection with the previously announced Agreement and Plan of Merger, dated as of August 8, 2023 (the "Merger Agreement"), by and among AG Mortgage Investment Trust, Inc. ("MITT"), AGMIT Merger Sub, LLC ("Merger Sub"), WMC and, solely for the limited purposes set fo

Western Asset Mortgage Capital Corporation (NYSE:WMC) ("WMC") announced that it expects to adjourn its special meeting of stockholders (the "Special Meeting") relating to the proposed merger with AG Mortgage Investment Trust, Inc. ("MITT") until December 5, 2023, at 9:00 a.m. Pacific Time, online in a virtual-only meeting format, due to a lack of quorum and to allow further solicitation of proxies from WMC common stockholders for the approval of the merger at the Special Meeting. A substantial majority of stockholders who have voted to date have voted in favor of the proposed merger with MITT. However, as of the date of this release, a quorum has not been achieved and there are not suffic

Western Asset Mortgage Capital Corporation Strongly Encourages Stockholders to Vote "FOR" the Merger by Monday, November 6, 2023 Western Asset Mortgage Capital Corporation (the "Company," "we," or "WMC") (NYSE:WMC) announced today that Glass Lewis became the second leading independent proxy advisory firm, joining Institutional Shareholder Services Inc. (ISS), to recommend that stockholders vote "FOR" the proposed merger with AG Mortgage Investment Trust, Inc. ("MITT"), in which each outstanding share of WMC common stock will be converted into the right to receive (i) 1.498 shares of MITT common stock and (ii) the per share portion of a cash payment equal to the lesser of $7,000,000 or app

Western Asset Mortgage Capital Corporation Encourages Stockholders to Vote "FOR" the Merger Western Asset Mortgage Capital Corporation (the "Company," "we," or "WMC") (NYSE:WMC) announced today that leading proxy advisory firm Institutional Shareholder Services Inc. ("ISS") recommends that stockholders vote "FOR" the proposed merger with AG Mortgage Investment Trust, Inc. ("MITT"), in which each outstanding share of WMC common stock will be converted into the right to receive (i) 1.498 shares of MITT common stock and (ii) the per share portion of a cash payment equal to the lesser of $7,000,000 or approximately 9.9% of the aggregate per share merger consideration. Any difference between $

Western Asset Mortgage Capital Corporation (NYSE:WMC) ("WMC") announced that its Board of Directors has declared an interim fourth quarter dividend of $0.14 per common share. The dividend is payable on November 8, 2023 to stockholders of record as of November 3, 2023. The interim fourth quarter dividend is being made pursuant to the terms of the previously announced Agreement and Plan of Merger, dated as of August 8, 2023 (the "Merger Agreement"), by and among AG Mortgage Investment Trust, Inc. ("MITT"), AGMIT Merger Sub, LLC ("Merger Sub"), WMC and, solely for the limited purposes set forth in the Merger Agreement, AG REIT Management, LLC, pursuant to which, subject to the terms and cond

AG Mortgage Investment Trust, Inc. (NYSE:MITT) ("MITT"), a publicly traded residential mortgage REIT managed by AG REIT Management, LLC, an affiliate of Angelo, Gordon & Co., L.P. ("Angelo Gordon"), a leading $74 billion alternative investment firm, and Western Asset Mortgage Capital Corporation (NYSE:WMC) ("WMC"), jointly announced today that they have determined the final exchange ratio in accordance with the terms of the Agreement and Plan of Merger, dated as of August 8, 2023 (the "Merger Agreement"), by and among MITT, AGMIT Merger Sub, LLC, a Delaware limited liability company and wholly owned subsidiary of MITT ("Merger Sub"), WMC and, solely for the limited purposes set forth in the

Western Asset Mortgage Capital Corporation (the "Company") (NYSE:WMC) announced today that its Board of Directors has declared a cash dividend of $0.35 per share for the third quarter of 2023. Today's dividend is payable on October 26, 2023 to common shareholders of record as of October 2, 2023, with an ex-dividend date of September 29, 2023. In addition, the Company estimates that its GAAP book value per share, as of August 31, 2023, was approximately $13.97. The August 31, 2023 estimated GAAP book value is unaudited, has not been verified or reviewed by any third party and is subject to normal quarterly reconciliation and other procedures. Further, the estimated book value is as of Augu

NEW YORK, Aug. 12, 2023 (GLOBE NEWSWIRE) -- Western Asset Mortgage Capital Corporation (NYSE:WMC) Lifshitz Law PLLC announces an investigation into possible breach of fiduciary duties in connection with the sale of WMC to AG Mortgage Investment Trust, Inc. Under the terms of the proposed merger, WMC shareholders will receive 1.5 shares of AG Mortgage Investment Trust, Inc. for each share of WMC common stocked owned and a cash payment from Angelo Gordon equal to approximately 9.99% of the aggregate per share merger consideration (not to exceed $7 million in total). If you are a WMC investor, and would like additional information about our investigation, please complete the Information R

Terra Property Trust, Inc. ("TPT" or "we") today issued the below statement regarding its terminated merger agreement with Western Asset Mortgage Capital Corporation (NYSE:WMC) ("WMC"). Vik Uppal, Chairman & CEO of TPT and Mavik Capital Management, L.P., commented: "We are disappointed that we could not come to an agreement with WMC's Board of Directors to merge. Our innovative proposal provided superior value to WMC stockholders in every regard, including higher total and cash consideration, perpetually reduced management fees, greater scale with lower leverage, lower transaction costs, and greater certainty of closing. WMC requested additional changes that we were unwilling to make be

Western Asset Mortgage Capital Corporation (the "Company," "we," or "WMC") (NYSE:WMC) announced today that its stockholders have voted to approve the proposed merger transaction with AG Mortgage Investment Trust, Inc. ("MITT") (NYSE:MITT) at a special meeting of stockholders of WMC held today.Approximately 55% of the issued and outstanding shares of WMC common stock entitled to vote at the special meeting of stockholders of WMC voted in favor of the adoption of the previously announced Agreement and Plan of Merger, dated as of August 8, 2023 (the "Merger Agreement"), by and among MITT, AGMIT Merger Sub, LLC, a wholly owned subsidiary of MITT ("Merger Sub"), WMC and, solely for the limited pu

Wednesday marks the last chance for investors to receive the next dividend payout from Western Asset Mortgage (NYSE:WMC). What's Happening The company announced on Thursday that it would pay shareholders a quarterly dividend of 14 cents per share. On Thursday, Western Asset Mortgage will go ex-dividend, meaning the stock will trade lower to reflect that payout. In other words, the stock will likely open 14 cents lower than it would have opened on any other day. In order to be eligible to receive a company's dividend, shareholders must own the stock prior to the ex-dividend date—in this case, Thursday. Shareholders who own WMC as of the end of Wednesday's session are eligible to receive the

The most oversold stocks in the financial sector presents an opportunity to buy into undervalued companies. The RSI is a momentum indicator, which compares a stock's strength on days when prices go up to its strength on days when prices go down. When compared to a stock's price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the RSI is below 30. Here’s the latest list of major oversold players in this sector, having an RSI near or below 30. Hannon Armstrong Sustainable Infrastructure Capital, Inc. (NYSE:HASI) Morgan Stanley maintained an Equal-Weight rating on the stock but lowered its price targe

Thursday marks the last chance for investors to receive the next dividend payout from Western Asset Mortgage (NYSE:WMC). What's Happening The company announced on Thursday that it would pay shareholders a quarterly dividend of 35 cents per share. On Friday, Western Asset Mortgage will go ex-dividend, meaning the stock will trade lower to reflect that payout. In other words, the stock will likely open 35 cents lower than it would have opened on any other day. In order to be eligible to receive a company's dividend, shareholders must own the stock prior to the ex-dividend date—in this case, Friday. Shareholders who own WMC as of the end of Thursday's session are eligible to receive the 35 ce

Asserts New Proposal Delivers Superior Value for the Company's Stockholders Relative to AG Mortgage Investment Trust's Unsolicited Offer Highlights Proposal Provides Stockholders with Larger Value on a Total Basis and Cash Basis, Perpetually Lower Management Fees, and Greater Certainty of Closing Notes Proposal Also Provides for a Performance-Based, Tiered Incentive Fee Structure, Superior to the Model Utilized by Angelo Gordon Underscores Commitment to Consummating the Merger and Taking All Necessary Steps to Protect Stockholders' Interests Terra Property Trust, Inc. today released the below letter sent to the Board of Directors of Western Asset Mortgage Capital Corporation (NYSE:WMC).

Under the terms of MITT's proposal, each outstanding share of WMC common stock would be converted into the right to receive (i) 1.468 shares of MITT common stock pursuant to a fixed exchange ratio (subject to adjustment for transaction expenses) and (ii) the per share portion of a cash payment from MITT's external manager equal to the lesser of $7 million or approximately 9.9% of the aggregate per share merger consideration (any difference between $7 million and the 9.9% cap would be used to benefit the combined company post-closing by offsetting reimbursable expenses that would otherwise be payable to MITT's external manager). Additionally, MITT's external manager, which would be the manage

TPT believes that MITT is undervalued and intends to consider all options to unlock this value in a constructive manner for its stockholders, including, without limitation, a strategic combination involving MITT. TPT remains firmly committed to completing the merger contemplated by its executed merger agreement with Western Asset Mortgage Capital Corporation (NYSE:WMC) ("WMC") in the fourth quarter of 2023.

On July 13, 2023, WMC received a non-binding proposal from MITT to acquire WMC. As a result of the WMC board's determination, WMC intends to engage in discussions with MITT regarding its proposal, in accordance with the terms of the merger agreement with TPT. Each outstanding share of WMC common stock would be converted into the right to receive (i) 1.468 shares of MITT common stock and (ii) the per share portion of an aggregate cash payment from MITT's external manager equal to the lesser of $7.0 million or approximately 9.9% of the aggregate per share merger consideration.

On July 13, 2023, AG Mortgage Investment Trust submitted an unsolicited non-binding proposal to the Board of Directors of WMC to acquire WMC. TPT believes that its proposed combination with WMC represents the most compelling transaction for stockholders of WMC.