Company: PDCC
Filing Date: 2025-09-19
Form Type: 424B2
Source: 0001214659-25-013974
Chunk: 1

Company: Pearl Diver Credit Co Inc.
Filing Date: 2025-09-19
Form: 424B2
Chunk 1
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er
is registered as an investment adviser with the U.S. Securities and Exchange Commission (the “SEC”) and, as of August 31,
2025, had approximately $3.0 billion of committed assets under management for investment in CLO securities and related investments.

Our common stock trades on
the New York Stock Exchange, or “NYSE”, under the ticker symbol “PDCC”. 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). In
conjunction with this offering, we determined that the Fund’s NAV per share as of September 17, 2025 was $16.89. The closing sales
price for shares of the Company’s common stock on the NYSE on September 17, 2025 was $16.99, which represented a 0.6% premium to
NAV per share as of that date.

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 supplement. Pursuant
to certain SEC rules, in no event will we sell our securities in a public primary offering with a value exceeding more than one-third
of our public float in any 12-month period so long as our public float remains below $75.0 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.

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We are offering up to $15,000,000
aggregate offering price of our common stock pursuant to this prospectus supplement and the accompanying prospectus. The Company and the
Adviser have entered into an Equity Distribution Agreement, dated September 19, 2025 (the “Equity Distribution Agreement”),
with Lucid Capital Markets, LLC (“Lucid” or the “Placement Agent