Company: PDCC
Filing Date: 2025-09-19
Form Type: 424B2
Source: 0001214659-25-013974
Chunk: 122

Company: Pearl Diver Credit Co Inc.
Filing Date: 2025-09-19
Form: 424B2
Chunk 122
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 | The Company commenced operations on July 9, 2024. |

Shares of closed-end management investment
companies may trade at a market price that is less than the NAV that is attributable to those shares. The possibility that the Company’s
shares of common stock will trade at a discount to NAV or at a premium that is unsustainable over the long term is separate and distinct
from the risk that the Company’s NAV will decrease. It is not possible to predict whether the Company’s shares will trade
at, above or below NAV in the future. Our NAV per share was $17.41
as of August 31, 2025. The closing sales price for shares of the Company’s common stock on the NYSE on September 12, 2025 was $17.42,
which represented a 0.1%
premium to NAV per share. As of September 12, 2025, there was one stockholder of record of the Company’s common stock (which does
not reflect holders whose shares are held in street name by a broker, bank or other nominee).

<div align='center'>BUSINESS</div>

The Company is a newly organized, externally managed,
non-diversified, closed-end management investment company that has registered as an investment company under the 1940 Act.

Our Structure

We were organized as Pearl Diver Credit Company,
LLC, a Delaware limited liability company, on April 12, 2023 and, effective July 9, 2024, we converted from a Delaware limited liability
company into a Delaware corporation under the name Pearl Diver Credit Company Inc.

| 65 |

Investment Strategy

Our primary investment objective is to maximize
our portfolio’s total return with a secondary objective to generate high current income. CLOs represent an efficient way for investors
to access diversified portfolios of broadly syndicated secures loans. We seek to invest in CLO securities that the Adviser believes have
the potential to generate attractive risk-adjusted returns and to outperform other similar CLO securities issued within the respective
vintage period, in the primary CLO market (i.e.,acquiring securities at the inception of a CLO), as well as in the secondary CLO
market (i.e.,acquiring existing CLO securities). We intend to pursue a differentiated strategy within the CLO equity market premised
upon the Adviser’s strong emphasis on assessing the skill of CLO collateral managers, analysis of CLO structure and application
of fundamental credit analysis to