Western Asset Mortgage Opportunity Fund Enters Into $50 Million At-The-Market Equity Program
04.21.20
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Simpson Thacher represented Western Asset Mortgage Opportunity Fund Inc. (the “Fund”) in an SEC-registered at-the-market equity program pursuant to which the Fund may offer and sell shares of its common stock having an aggregate offering price of up to $50 million, from time to time, through JonesTrading Institutional Services, LLC.
The Fund is a non-diversified, closed-end investment company advised by Legg Mason Partners Fund Advisor, LLC and sub-advised by Western Asset Management Company, each of which are wholly owned subsidiaries of Legg Mason, Inc. The Fund seeks to achieve its investment objectives by investing primarily in a diverse portfolio of mortgage-backed securities and mortgage whole loans. Its shares of common stock are listed on the New York Stock Exchange under the symbol “DMO.”
The Simpson Thacher team for the transaction included David Blass, Ryan Brizek and Debbie Sutter (Registered Funds); Jonathan Cantor and Morgan Otway (Tax); and Jennie Getsin (Blue Sky and FINRA).