Company: PDCC
Filing Date: 2025-09-19
Form Type: 424B2
Source: 0001214659-25-013974
Chunk: 193

Company: Pearl Diver Credit Co Inc.
Filing Date: 2025-09-19
Form: 424B2
Chunk 193
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 Moreover, the DRD may be disallowed or reduced if an otherwise eligible corporate
stockholder fails to satisfy the foregoing requirements with respect to shares of our stock or by application of the Code. Given our investment
strategies, it is not anticipated that a significant portion of our dividends will be eligible for the DRD.

Shareholders who have not held our shares for
a full year should be aware that we may report and distribute, as ordinary dividends or capital gain dividends, a percentage of income
that is not equal to the percentage of our ordinary income or net capital gain, respectively, actually earned during the applicable shareholder’s
period of investment in us. A taxable shareholder may wish to avoid investing in us shortly before a dividend or other distribution, because
the distribution will generally be taxable even though it may economically represent a return of a portion of the shareholder’s
investment.

A RIC that receives business interest income may
pass through its net business interest income for purposes of the tax rules applicable to the interest expense limitations under
Section 163(j) of the Code. A RIC’s total “Section 163(j) Interest Dividend” for a tax year is limited
to the excess of the RIC’s business interest income over the sum of its business interest expense and its other deductions properly
allocable to its business interest income. A RIC may, in its discretion, designate all or a portion of ordinary dividends as Section 163(j) Interest
Dividends, which would allow the recipient shareholder to treat the designated portion of such dividends as interest income for purposes
of determining such shareholder’s interest expense deduction limitation under Section 163(j). This can potentially increase
the amount of a shareholder’s interest expense deductible under Section 163(j). In general, to be eligible to treat a Section 163(j) Interest
Dividend as interest income, you must have held your shares in the Company for more than 180 days during the 361-day period beginning
on the date that is 180 days before the date on which the share becomes ex-dividend with respect to such dividend. Section 163(j) Interest
Dividends, if so designated by the Company, will be reported to your financial intermediary or otherwise in accordance with the requirements
specified by the IRS.

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Capital gain dividends distributed to a stockholder
are characterized as long-term capital gains, regardless of how long the stockholder has held our shares. A distribution of an amount
in excess of our current and accumulated earnings and