Company: PDCC
Filing Date: 2025-09-19
Form Type: 424B2
Source: 0001214659-25-013974
Chunk: 28

Company: Pearl Diver Credit Co Inc.
Filing Date: 2025-09-19
Form: 424B2
Chunk 28
---
 or more purchasers or through agents or through a combination
of methods of sale. The identities of such underwriters, dealers, market makers or agents, as the case may be, will be described in one
or more supplements to this prospectus. The securities may be offered at prices and on terms to be described in one or more supplements
to this prospectus. In the event we offer common stock, the offering price per share of our common stock exclusive of any underwriting
commissions or discounts will not be less than the net asset value, or “NAV”, per share of our common stock at the time we
make the offering except (1) in connection with a rights offering to our existing stockholders, (2) with the consent of the majority
of our common stockholders, (3) upon the conversion of a convertible security in accordance with its terms or (4) under such circumstances
as the Securities and Exchange Commission, or the “SEC”, may permit.

Shares of common stock of closed-end management investment companies that are listed on an exchange frequently trade at a discount to their NAV. If our shares of common stock trade at a discount to our NAV, it will likely increase the risk of loss for purchasers of our securities.

Our common stock trades
on the New York Stock Exchange, or “NYSE”, under the ticker symbol “PDCC”. In addition, our Series A Term Preferred
Stock trades on the NYSE under the symbol “PDPA”. The last reported closing sales price for our common stock on September
12, 2025 was $17.42 per share. We determine the NAV per share of our common stock on a monthly basis (or more frequently, as appropriate,
such as with respect to an offering). As of August 31, 2025, the NAV per share of our common stock was $17.41 (the last date prior to
the date of this prospectus as of which we determined our NAV).

As of September 12, 2025,
the aggregate market value of our outstanding common stock held by non-affiliates, or the public float, was approximately $45.2 million,
which was calculated based on 2,530,000 shares of outstanding common stock held by non-affiliates and on a price per share of $17.87,
the closing price of our common stock on July 23, 2025, which is within sixty days prior to the date of this prospectus. Pursuant
to certain SEC rules, in no event