Company: PDCC
Filing Date: 2025-09-16
Form Type: N-2/A
Source: 0001214659-25-013826
Chunk: 148

Company: Pearl Diver Credit Co Inc.
Filing Date: 2025-09-16
Form: N-2/A
Chunk 148
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 U.S. federal
income or excise tax thereon. To the extent we qualify for treatment as a RIC and satisfy the applicable distribution requirements, we
will not be subject to U.S. federal income tax on our income to the extent paid to holders of our common stock in the form of dividends
or capital gains distributions.

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As a RIC, we are not subject to federal income
tax on our investment company taxable income (as that term is defined in the Code, but without regard to the deductions for dividend paid)
and net capital gains (the excess of net long-term capital gains over net short-term capital loss), if any, that we timely distribute
in each taxable year to holders of our common stock, provided that we distribute an amount at least equal to the sum of 90% of our investment
company taxable income and 90% of our net tax-exempt interest income for such taxable year. We intend to distribute to holders of our
common stock, at least annually, substantially all of our investment company taxable income, net tax-exempt income, and net capital gains.
In order to avoid incurring a nondeductible 4% federal excise tax obligation, the Code requires that we generally distribute (or be deemed
to have distributed) by December 31 of each calendar year an amount at least equal to the sum of (i) 98% of our ordinary income (taking
into account certain deferrals and elections) for such year, (ii) 98.2% of our capital gains net income, generally computed on the basis
of the one-year period ending on October 31 of such year, and (iii) 100% of any ordinary income and capital gains net income from the
prior year (as previously computed) that were not paid out during such year and on which we paid no U.S. federal income tax.

Additional Information

The tax treatment and characterization of our
distributions may vary substantially from time to time because of the varied nature of our investments. If our total monthly distributions
in any year exceed the amount of our current and accumulated earnings and profits, any such excess would generally be characterized as
a return of capital for federal income tax purposes. Under the 1940 Act, for any distribution that includes amounts from sources other
than net income (calculated on a book basis), we are required to provide holders of our common stock a written statement regarding the
components of such distribution. Such a statement will be provided at the