Company: PDCC
Filing Date: 2025-09-19
Form Type: 424B2
Source: 0001214659-25-013974
Chunk: 166

Company: Pearl Diver Credit Co Inc.
Filing Date: 2025-09-19
Form: 424B2
Chunk 166
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 the most recently disclosed NAV of our common stock and ending as of a time    
 within 48 hours (excluding Sundays and holidays) of the sale of our common stock; and         |

| • | the magnitude of the difference                                                                
 between (i) a value that the Adviser has determined reflects the current (as of a time         
 within 48 hours, excluding Sundays and holidays) NAV of our common stock, which is based       
 upon the NAV of our common stock disclosed in the most recent periodic report that we filed    
 with the SEC, as adjusted to reflect the Adviser’s assessment of any material change           
 in the NAV of our common stock since the date of the most recently disclosed NAV of our common 
 stock, and (ii) the offering price of the shares of our common stock in the proposed           
 offering.                                                                                      |

Moreover, to the extent that there is even
a remote possibility that we may issue shares of our common stock at a price below the then current net asset value of our common stock
at the time at which the sale is made, we will either postpone the offering until such time that there is no longer the possibility of
the occurrence of such event or undertake to determine the NAV of our common stock within two days prior to any such sale to ensure
that such sale will not be below our then current NAV.

| 96 |

<div align='center'>DISTRIBUTION POLICY</div>

Regular Distributions

We intend to make regular monthly cash distributions
of all or a portion of our investment company taxable income to holders of our common stock. We also intend to make at least annual distributions
of all or a portion of our “net capital gains” (which is the excess of net long-term capital gains over net short-term capital
losses) as described below. Any dividends to our holders of our common stock will be declared out of assets legally available for distribution.

While we anticipate a portion of such distributions,
if made, to be paid from income primarily generated by interest income earned on our investment portfolio, and a portion of such distributions
may also comprise a return of capital. A return of capital will lower a shareholder’s tax basis in his or her shares, which could
result in shareholders having to pay higher taxes in the future when shares are sold, even when shares are sold at a loss from the original
investment. No assurance can be given that we will be able to declare such distributions in future periods, and our ability to declare
and pay distributions will be subject to a number