Company: PDCC
Filing Date: 2025-03-11
Form Type: N-CSR
Source: 0001398344-25-005419
Chunk: 0

Company: Pearl Diver Credit Co Inc.
Filing Date: 2025-03-11
Form: N-CSR
Chunk 0
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<div align='center'>UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT

INVESTMENT COMPANIES

Investment Company Act file number: 811-23912

PEARL DIVER CREDIT COMPANY INC.

(Exact name of registrant as specified in charter)

747 Third Avenue

Suite 3603

New York, New York 10017

(Address of principal Executive Offices)

(833) 736-6777

(Registrant’s telephone number, including Area Code)

The Corporation Trust Company

1209 Orange Street

Wilmington, Delaware 19801

(Name and address of agent for service)

Copies of Communications to:

Thomas S. Harman

Morgan, Lewis & Bockius LLP

1111 Pennsylvania Avenue, NW

Washington, DC 20004-2541

Date of fiscal year end:

Date of reporting period:</div>

Item 1. Reports to Stockholders.

| (a) | The Report to Stockholders of Pearl Diver Credit Company Inc. (the “Registrant” or the “Fund”) is attached 
 herewith.                                                                                                  |

TableofContents

| Letter to Shareholders and Management’s Discussion of Fund Performance (unaudited) |  1 |
| Summary of Certain Unaudited Portfolio Characteristics                             |  4 |
| Disclosure of Fund Expenses                                                        |  6 |
| Schedule of Investments                                                            |  7 |
| Statement of Assets and Liabilities                                                |  9 |
| Statement of Operations                                                            | 10 |
| Statement of Changes in Net Assets                                                 | 11 |
| Statement of Cash Flows                                                            | 12 |
| Financial Highlights                                                               | 13 |
| Notes to Financial Statements                                                      | 14 |
| Report of Independent Registered Public Accounting Firm                            | 26 |
| Dividend Reinvestment Plan (unaudited)                                             | 27 |
| Additional Information (unaudited)                                                 | 28 |

February 28, 2025

Dear Stockholders,

We are pleased to provide you with the inaugural semi-annual
report of Pearl Diver Credit Company, Inc. (“we”, “us”, “our”, “Company” or “PDCC”)
for the period beginning on July 9, 2024 (date of reorganization) and ending on December 31, 2024.

The Company is a closed-end management investment
company registered under