Company: PDCC
Filing Date: 2025-09-03
Form Type: N-CSRS
Source: 0001398344-25-017467
Chunk: 1

Company: Pearl Diver Credit Co Inc.
Filing Date: 2025-09-03
Form: N-CSRS
Chunk 1
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 a closed-end management investment
company registered under the Investment Company Act of 1940, as amended (the “1940 Act”) and is advised by Pearl Diver Capital
LLP (the “Adviser”). The Company’s 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 secured 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 analyze the collateral
loans of each CLO investment. In addition, the Adviser intends to leverage its CLO structuring expertise and deep experience in negotiations
of CLO documents in order to optimize for CLO investment returns.

Common Stock

The Company’s common shares trade on the New
York Stock Exchange under the symbol “PDCC”. Our common share price may differ from the NAV per share. As of June 30, 2025,
the Company’s NAV was $18.19 per common share, and the closing price was $17.98 per share.

During the period ended June 30, 2025, the Company paid distributions to common shareholders totaling $1.32 per share. The Company also paid a monthly distribution of $0.22 per common share for July 2025, and have declared monthly distributions of $0.22 per common share for August, September, and October 2025.1

For the period ended June 30, 2025, the Company recorded net investment income (“NII”) of $0.96 per weighted average common share.2

The Company’s dividend reinvestment plan allows
common stockholders to have their distributions automatically reinvested into new shares of common stock. If the prevailing market price
of our common stock exceeds our NAV per share, such reinvestment is at a discount (up to five percent) to the prevailing market price.

Preferred Stock

In addition to common stock