Company: PDCC
Filing Date: 2025-09-19
Form Type: 424B2
Source: 0001214659-25-013974
Chunk: 2

Company: Pearl Diver Credit Co Inc.
Filing Date: 2025-09-19
Form: 424B2
Chunk 2
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”) relating to the issuance and sale of shares
of up to $75,000,000 of the Company’s common stock, as offered by this prospectus supplement, future prospectus supplements, and
the accompanying prospectus.

The Equity Distribution Agreement
provides that we may offer and sell shares of our common stock from time to time through the Placement Agent, as placement agent or principal.
Sales of our common stock 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 of 1933, as amended (the “Securities
Act”). There is no arrangement for funds to be received in an escrow, trust or similar arrangement.

The Placement Agent will
receive a commission from us equal to up to 2.0% of the gross sales price of any shares of our common stock sold through it under the
Equity Distribution Agreement. The Placement Agent is not required to sell any specific number or dollar amount of common stock but will
use its commercially reasonable efforts consistent with its sales and trading practices to sell the shares of our common stock offered
by this prospectus supplement and the accompanying prospectus. In connection with the sale of shares of the common stock on our behalf,
the Placement Agent may be deemed to be an “underwriter” within the meaning of the Securities Act, and the compensation of
the Placement Agent may be deemed to be underwriting commissions or discounts. We have also agreed to provide indemnification and contribution
to the Placement Agent against certain liabilities, including civil liabilities under the Securities Act. For all fees and expenses paid
to the Placement Agent, see “Plan of Distribution” beginning on page S-14 of this prospectus supplement. The
sales price per share of our common stock offered by this prospectus supplement and the accompanying prospectus, less commissions payable
under the Equity Distribution Agreement and discounts, if any, will not be less than the net asset value, or “NAV”, per share
of our common stock at the time of such sale.

We intend to make regular
monthly distributions of all or a portion of our investment company taxable income to holders of our common stock. If our distributions
exceed our investment company taxable income in a tax year, such excess will represent a return of capital to our stockholders. No assurance
can be given that we will be able to declare such distributions in future periods, and our ability to declare and pay distributions will