Company: PDCC
Filing Date: 2025-09-19
Form Type: 424B2
Source: 0001214659-25-013974
Chunk: 53

Company: Pearl Diver Credit Co Inc.
Filing Date: 2025-09-19
Form: 424B2
Chunk 53
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 investment in the CLO Warehouse. This     
 shortfall may be attributable to, amongst other things, a fall in the value of the Collateral between the date of the Company’s           
 participation in the CLO Warehouse and the date that the Collateral is realized.                                                          |

| 16 |

| · | Fair                                                                                                
 Valuation of Our Portfolio Investments. Generally, there is a more limited public                   
 market for the CLO investments we target. As a result, we value these securities at least           
 monthly, or more frequently as may be required from time to time, at fair value. Our determinations 
 of the fair value of our investments have a material impact on our net earnings through the         
 recording of unrealized appreciation or depreciation of investments and may cause our NAV           
 on a given date to understate or overstate, possibly materially, the value that we may ultimately   
 realize on one or more of our investments.                                                          |

| · | Limited Investment Opportunities Risk. The market for CLO securities is more limited than                                                 
 the market for other credit related investments. We can offer no assurances that sufficient investment opportunities for our capital will 
 be available.                                                                                                                             |

| · | Non-Diversification Risk. We are a non-diversified investment company under the 1940 Act 
 and may hold a narrower range of investments than a diversified fund under the 1940 Act. |

| · | Currency Risk. Although we intend to primarily make investments denominated in U.S. dollars,                                               
 we may make investments denominated in other currencies. Our investments denominated in currencies other than U.S. dollars will be subject 
 to the risk that the value of such currency will decrease in relation to the U.S. dollar.                                                  |

| · | Hedging Risk. Hedging transactions seeking to reduce risks may result in poorer overall                                                 
 performance than if we had not engaged in such hedging transactions, and they may also not properly hedge our risks. To the extent that 
 we use derivatives to hedge our investment risks, we will be subject to risks specific to derivatives transactions. Such risks include  
 counterparty risk, correlation risk, liquidity risk, leverage risk, and volatility risk.                                                |

| · | Conflicts of Interest Risk. Our executive officers and directors, and the Adviser and certain                                            
 of its affiliates and their officers and employees, including the Investment Team, have several conflicts of interest as a result of the 
 other activities in which they engage. See “Conflicts of Interest.”                                                                      |

| · | Incentive