Company: PDCC
Filing Date: 2025-07-18
Form Type: N-2
Source: 0001214659-25-010613
Chunk: 194

Company: Pearl Diver Credit Co Inc.
Filing Date: 2025-07-18
Form: N-2
Chunk 194
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 to which we would repurchase in the open market a specified percentage (up to 10%)
of our then-outstanding shares of common stock over a three-month period. We refer to such a program in this prospectus as a “Repurchase
Program”. If initiated, we currently expect that we would halt a Repurchase Program once shares of our common stock cease to trade
at a discount to NAV of more than 7.5% based on the average daily stock price over any two week period during the operation of such Repurchase
Program. We expect that repurchases of shares of our common stock pursuant to a Repurchase Program will be funded with our available cash
or proceeds from asset liquidations. If we announce a Repurchase Program during a calendar year as described above, we do not currently
intend to announce a subsequent Repurchase Program in the same calendar year or within the following six months.

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While it is our current intention to implement
a Repurchase Program in the circumstances described above, there are no assurances that the board of directors will approve any Repurchase
Program or that, if initiated, a Repurchase Program will reduce or eliminate any discount to NAV per share. The factors that the board
of directors may consider in determining whether to approve a Repurchase Program or any other action intended to reduce a discount in
the trading price of our common stock include, but are not limited to, the market price of shares of our common stock, the NAV per share
of our common stock, the liquidity of our assets, the effect on our expenses, whether such transactions would impair our status as a RIC
or result in a failure to comply with applicable asset coverage requirements, whether the use of cash or sale of portfolio securities
is desirable under current market conditions, any restrictions in or other impacts on our contractual arrangements, compliance with applicable
law, any potential other courses of action, any applicable conflicts of interest, general economic conditions, and such other events or
conditions that which may have a material effect on our ability to consummate such transactions.

<div align='center'>REGULATION AS A CLOSED-END
MANAGEMENT INVESTMENT COMPANY</div>

General

As a registered closed-end management investment
company, we are subject to regulation under the 1940 Act. Under the 1940 Act, unless authorized by vote of a majority of our outstanding
voting securities, we may not:

| · | change our classification to an open-end management investment company;                             |
| · |