Company: PDCC
Filing Date: 2025-09-19
Form Type: 424B2
Source: 0001214659-25-013974
Chunk: 23

Company: Pearl Diver Credit Co Inc.
Filing Date: 2025-09-19
Form: 424B2
Chunk 23
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0 million. We have not offered any securities pursuant to the SEC
rules noted above during the 12 calendar months prior to and including the date of this prospectus supplement.

Sales
of our common stock, if any, under this prospectus supplement and the accompanying prospectus may be made by any method that is deemed
to be an “at the market offering,” as defined in Rule 415 under the Securities Act. The Placement Agent will provide
written confirmation of a sale to us no later than the opening of the trading day on the NYSE following each trading day in which shares
of our common stock are sold under the Equity Distribution Agreement. Each confirmation will include the number of shares of common stock
sold on the preceding day, the net proceeds to us and the commission payable by us to the Placement Agent, in connection with the sales.

The Placement
Agent will receive a commission from us equal to the lesser of (i) 2.00% of the gross sales price per share from the sale of shares of
our common stock under the Equity Distribution Agreement and (ii) the difference between the gross sale price per share from such sale
of common stock and the most recently determined NAV per share. We have agreed to reimburse fees and expenses of counsel to the Placement
Agent up to $75,000 for entering into the Equity Distribution Agreement, and up to $10,000 per calendar quarter during the term of the
Equity Distribution Agreement for fees and expenses of counsel to the Placement Agent incurred in connection with quarterly updates for
this offering. We estimate that the total expenses for the offering, excluding commission and reimbursements payable to the Placement
Agent under the terms of the Equity Distribution Agreement, will be approximately $255,257.

| S-14 |

Unless
otherwise specified in our instructions, settlement for sales of shares of common stock will occur on the first trading day (or such shorter
settlement cycle as may be in effect under the Securities Exchange Act of 1934 (the “Exchange Act”) Rule 15c6-1 from
time to time) following the date on which such sales are made, in return for payment of the net proceeds to us. There is no arrangement
for funds to be received in an escrow, trust or similar arrangement. We will disclose, through our annual report, semi-annual report and
quarterly report, as applicable, at least quarterly, the number of shares of our common stock sold through the Placement Agent under the
Equity Distribution Agreement and the net